Listing Agency: R.W. Holmes Commercial Real Estate Show Phone

Listed By: Dean Blackey · License #9031258-RE-S Show Phone

Source: Moodyscre

Added: Dec 5, 2024 Changed: Oct 4 Last Checked: Oct 4 at 1:03PM

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Investment Insights

Based on property information with market context.

Located directly off Route 27 in downtown Sherborn, Massachusetts, 20 North Main Street is a 14,400 square foot office complex available for sale for the first time. Constructed in 1984 by Timberpeg, the building features a post and beam design. Currently used as a multi-tenant office building, its open layout allows for easy conversion to single-occupant use. Existing leases have been intentionally converted to tenancy at will, providing flexibility for potential users to occupy the entire building or lease out unused space. The property is located in the heart of downtown Sherborn.

Key Highlights

• Prime location in the heart of downtown Sherborn, directly off Route 27.
• 14,400 SF office complex with potential for single or multi‑tenant use.
• Unique open layout allows for flexible space utilization and easy conversion.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$456,918

Cap Rate

8.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,138,360 $9.1M

Cap Rate 7%

$6,527,400 $6.5M

Cap Rate 9%

$5,076,867 $5.1M

Market Conditions

NOI Build-Up for 14,400 SF

Gross rent

$781.1K $54.24/SF

− Vacancy

−$171.8K −$11.93/SF

EGI

$609.2K $42.31/SF

− OpEx

−$152.3K −$10.58/SF

NOI

$456.9K $31.73/SF

Area

Middlesex County, MA

Vacancy

22.00%

Lease Rate

$54.24 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,138,360

Cap Rate 7%

$6,527,400

Cap Rate 9%

$5,076,867

Alternative Uses

Best Use

Office B

$6.53M

$5.71M – $7.62M (±1% cap)

NOI $456,918 @ 7.0% cap · market cap 8.96%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$8.52M

$7.46M – $9.95M (±1% cap)

NOI $596,732 @ 7.0% cap · market cap 11.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

R & P Lowell ... Architect Raymond James Financial ... Financial Advisor Howland Company, Inc. Construction Company Bolt & Lambert Elec ... Electrical Service Heaven On Earth Antiques ... Home Decor Store

Suggested Use

Top Pick Building Supply Auto Repair Shop Dental Office HVAC Service Real Estate Agency Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

159

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office building - 14,400 SF office complex in downtown Sherborn, Massachusetts.

Where is this office building located?

The property is located at 20 N Main St Sherborn, MA.

What is the asking price?

The asking price for this property is $5,100,000.

What are key features of this property?

This property features: Prime location in the heart of downtown Sherborn, directly off Route 27.; 14,400 SF office complex with potential for single or multi‑tenant use.; Unique open layout allows for flexible space utilization and easy conversion.