Fall River Retail
For Sale
Contact for pricing
246 E Main St, Fall River, MA
Meticulously maintained building in a vibrant, walkable Fall River community.
Property Size1,760 SF
Lot Size0.08 Acres
Price / SF$186.93
Days on Market581
Property Features for 246 E Main St
General Information
Standard status
Active
Size
1,760 SF
Lot size
0.08 Acres
Property subtype
RETAIL
Listing Agency:
Coastal Commercial Real Estate
(774) 644-3420
Listed By:
Rick Trapilo
(774) 644-3420
Source:
Moodyscre
Added: Jan 8, 2025
Changed: Aug 11
Last Checked: Aug 11 at 11:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coastal Commercial Real Estate
Investment Insights
Based on property information with market context.
This meticulously maintained building on East Main St in Fall River presents an opportunity for investors and business owners. The property, formerly a neighborhood pharmacy, includes six off-street parking spots at the rear. The versatile space is suitable for various businesses, including a laundromat, convenience store, or office space. Upgrades include brick siding and windows replaced in 2018, a 200 amp electric panel, and a roof installed in 2011. A complete renovation in 2007 introduced new lighting, ceiling tiles, and a refreshed interior with a kitchen. The property also features a spacious basement for additional storage. Located in a walking community, the property offers potential for growth. The property size is 1,760 square feet. All furniture and display fixtures are included.
Key Highlights
- Prime location on East Main St in revitalizing Fall River.
- Enjoy the convenience of 6 off‑street parking spots.
- Versatile space suitable for various businesses (laundromat, convenience store, office, etc.).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,237
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$464,740
$464.7K
Cap Rate 7%
$331,957
$332.0K
Cap Rate 9%
$258,189
$258.2K
Market Conditions
NOI Build-Up for 1,760 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.7K $18.00/SF
− Vacancy
−$697 −$0.40/SF
EGI
$31.0K $17.60/SF
− OpEx
−$7.7K −$4.40/SF
NOI
$23.2K $13.20/SF
Area
Bristol County, MA
Vacancy
2.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$464,740
Cap Rate 7%
$331,957
Cap Rate 9%
$258,189
Alternative Uses
Best Use
Retail
$516.4K
$451.8K – $602.5K
NOI $36,147 @ 7.0% cap · market cap 10.99%
Second Best
Specialty Retail
$332.0K
$290.5K – $387.3K
NOI $23,237 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$1.07M
$937.8K – $1.25M
NOI $75,027 @ 7.0% cap · market cap 22.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walgreens Pharmacy — 328 Rhode Island Ave, Fall River, MA 02721
- COVID-19 Drive-Thru Testing at Walgreens — 328 Rhode Island Ave, Fall River, MA 02721
- Tetee Kuyateh — 328 Rhode Island Ave, Fall River, MA 027212330
- John Wilkins — 328 Rhode Island Ave, Fall River, MA 027212330
- Livonia Lau — 328 Rhode Island Ave, Fall River, MA 027212330
Frequently Asked Questions
What type of property is this?
Drug store - Meticulously maintained building in a vibrant, walkable Fall River community.
Where is this drug store located?
The property is located at 246 E Main St Fall River, MA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Prime location on East Main St in revitalizing Fall River.; Enjoy the convenience of 6 off‑street parking spots.; Versatile space suitable for various businesses (laundromat, convenience store, office, etc.).
