Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Triplex Near Westwood Line Title is generated by Realmo AI

    240 Washington St, Norwood, MA 02062

    View on Map
    Claim this Listing
    For Sale
    $1,150,000

    Recently renovated triplex with strong rental history and commuter-friendly location.

    Type:Investment
    Added:
    Apr 15, 2026
    Days on Market:
    49
    Last Refresh:
    Mar 31 at 4:34 am

    Property Features for 240 Washington St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1959

    We can help!

    Listing Contact
    Michael Lord

    Listing agent Michael Lord

    Listing office

    Listing date Apr 15, 2026

    Source Elliman

    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 Michael Lord

    HighLights

    • High CAP Rate (7+%) indicating strong investment potential.
    • Recently renovated 3‑family property offering immediate cash flow.
    • Prime commuter‑friendly location near the Westwood line and within walking distance to the train.
    • Three generously sized units with separate utilities.
    • Newer kitchens with new appliances and renovated bathrooms.
    • Walkable location close to shops, restaurants, and supermarkets (Walk Score: 71).

    Overview

    This recently renovated three-family property offers an investment opportunity in a commuter-friendly location. The property features three generously sized units, each with separate utilities and a strong rental history. The units have been well maintained and include newer kitchens with new appliances, renovated bathrooms, and oversized rooms. A shared backyard is available. The property provides multiple parking spaces and separate laundry facilities, along with additional storage in the basement. The location is within walking distance of the train, shops, restaurants, and supermarkets. The property is near the Westwood line and has a walk score of 71, indicating it is very walkable, and a bike score of 45, indicating it is somewhat bikeable. The property has an attractive 7+ CAP rate.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norwood
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.1948578
    Latitude
    42.2053218

    Nearby Similar for Sale

    • $995,000
      2,888 SF

      Historic Farmhouse on Expansive Lot

      Charming farmhouse with flexible living, investment potential, and expansion possibilities.
      397 Washington St, Norwood, MA 02062
      View Details
    • $1,750,000
      10,084 SF

      Norwood Mixed-Use Investment Opportunity

      Mixed-use property with restaurant, apartments, and development potential.
      1086-1088 Washington St, Norwood, MA 02062
      View Details
    • $350,000
      3,441 SF

      Retail Property in Prime Location

      Retail property in a thriving community, ideal for various ventures.
      345 Nahatan Street, Norwood, MA 02062
      View Details
    • $2,500,000
      2,610 SF

      Auto Repair Facility For Sale

      Fully occupied auto repair facility near Route 1 Auto Mile.
      900 Pleasant Street, Norwood, MA 02062
      View Details
    • $2,449,000
      2,175 SF

      Freestanding Building on High-Visibility Location

      Versatile commercial building on Route 1 with ample parking.
      924 Boston Providence, Norwood, MA 02062
      View Details
    • $3,650,000
      13,847 SF

      Norwood Industrial/Automotive Opportunity

      Versatile 14,000 SF industrial/automotive space on 1 acre.
      451 Walpole Street, Norwood, MA 02062
      View Details
    • $799,900
      4,000 SF

      Four Contiguous Office Units

      Four contiguous office units totaling 4,000 square feet for sale.
      77 Access Rd #8, Norwood, MA 02062
      View Details
    • $2,450,000
      7,000 SF

      Industrial/Automotive Building For Sale

      7,000 SF industrial/automotive building with multiple tenants.
      915 Pleasant St, Norwood, MA 02062
      View Details
    • $2,450,000
      7,000 SF

      Industrial/Automotive Building For Sale

      7,000 SF industrial/automotive building with high ceilings and ample parking.
      915 Pleasant St, Norwood, MA 02062
      View Details
    • $1,250,000
      6,750 SF

      Versatile Commercial Building For Sale

      Commercial building suitable for multiple tenants, available for sale.
      594 Pleasant St, Norwood, MA 02062
      View Details
    • $2,450,000
      7,000 SF

      Industrial/Automotive Building with High Ceiling

      7,000 SF industrial/automotive building with multiple tenants.
      915 Pleasant St, Norwood, MA, MA 02062
      View Details
    • $202,000
      981 SF

      Modern Office Condo For Sale

      981 sq ft office condo near Rt. 1 & I-95.
      77 Access Rd #7, Norwood, MA 02062
      View Details

    FAQs

    What type of property is this?
    Triplex - Recently renovated triplex with strong rental history and commuter-friendly location.
    Where is this triplex located?
    The property is located at 240 Washington St Norwood, MA.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: High CAP Rate (7+%) indicating strong investment potential.; Recently renovated 3‑family property offering immediate cash flow.; Prime commuter‑friendly location near the Westwood line and within walking distance to the train.
    (508) 395-8333
    We can help!
    Listing Contact
    Michael Lord
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    240 Washington St, Norwood, MA 02062
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!