Renovated Industrial Warehouse
For Sale
$2,400,000
124 Turnpike Street, Easton, MA 02375
Industrial-zoned warehouse units provide both drive-in and loading dock access.
Property Size12,160 SF
Price / SF$197.37
Days on Market65
Property Features for 124 Turnpike Street
General Information
Standard status
Active
Size
12,160 SF
Property subtype
Industrial - Warehouse/Distribution
Zoning
Industrial
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Dock-High Doors
2
Drive-In Doors
2
Building Details
Building Size
12,160 SF
Year Built
1989
Year Renovated
2000
Units
3
Listing Agency:
Ellis Realty Advisors
(781) 919-0800
Listed By:
Dave Ellis, SIOR · License #9524572
Source:
Commercialcafe
Added: Jun 28
Changed: Aug 30
Last Checked: Aug 31 at 1:45PM
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 Ellis Realty Advisors
Investment Insights
Based on property information with market context.
This offering includes condominium warehouse space within a larger industrial building, totaling 12,160 square feet. The units were constructed in 1989 and renovated in 2000, with two drive-in doors and two loading docks supporting warehouse, manufacturing, or distribution operations. The space is fully occupied and located in an Industrial-zoned area.
The property is at 124 Turnpike Street in Easton, Massachusetts, with on-site access to Route 138. Route 24 and I-495 are also nearby, connecting the property with the Providence–Rhode Island and southeastern Massachusetts metro region. The location is identified within the Attleboro/New Bedford submarket.
The property is at 124 Turnpike Street in Easton, Massachusetts, with on-site access to Route 138. Route 24 and I-495 are also nearby, connecting the property with the Providence–Rhode Island and southeastern Massachusetts metro region. The location is identified within the Attleboro/New Bedford submarket.
Key Highlights
- 12,160 SF of industrial condominium warehouse space
- Renovated in 2000; original construction dates to 1989
- Two drive‑in doors and two loading docks
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
$157,539
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
6.56%
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%
$3,150,780
$3.2M
Cap Rate 7%
$2,250,557
$2.3M
Cap Rate 9%
$1,750,433
$1.8M
Market Conditions
NOI Build-Up for 12,160 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
$194.1K $15.96/SF
− Vacancy
−$8.7K −$0.72/SF
EGI
$185.3K $15.24/SF
− OpEx
−$27.8K −$2.29/SF
NOI
$157.5K $12.96/SF
Area
Bristol County, MA
Vacancy
4.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
15.00%
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%
$3,150,780
Cap Rate 7%
$2,250,557
Cap Rate 9%
$1,750,433
Alternative Uses
Best Use
Warehouse
$2.25M
$1.97M – $2.63M
NOI $157,539 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.41M
$6.48M – $8.64M
NOI $518,366 @ 7.0% cap · market cap 21.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Dock-high doors
2
Drive-in doors
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02375, MA
10,373
Population
4,682
Households
2.2
Avg Household Size
44
Median Age
50%
College-Educated
97%
High-School Grad
13.8 sq mi
ZIP Area
752
Density / Sq Mi
$117,717
Median Household Income
$72,166
Median Earnings
$2,080
Median Rent
$492,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial-zoned warehouse units provide both drive-in and loading dock access.
Where is this warehouse located?
The property is located at 124 Turnpike Street Easton, MA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12,160 SF of industrial condominium warehouse space; Renovated in 2000; original construction dates to 1989; Two drive‑in doors and two loading docks
