Building Details

Building Size 6,960 SF

Year Built 1963

Listing Agency: c***@milestonerealtyinc.com Show Phone

Listed By: Jadaiya Stanley Show Phone

Source: Milestonerealtyinc

Added: May 16 Changed: Aug 28 Last Checked: Aug 28 at 8:03AM

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Investment Insights

Based on property information with market context.

This commercial package features two free-standing, multifunctional buildings suitable for office and warehouse use. One building includes a commercial mezzanine for additional storage and vertical space utilization, along with phase 3 electric. A new roof is planned for 2025. The second building offers a showroom, office space, a conference room, and a warehouse/shop area. The property benefits from a traffic count of over 27,000 vehicles along Cranberry Highway. The total property size is 6,960 square feet.

Key Highlights

• High traffic location with 27,000+ count on Cranberry Hwy
• Two free‑standing commercial buildings
• Multifunctional office and warehouse spaces in both buildings

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

$74,033

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

6.17%

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%

$1,480,660 $1.5M

Cap Rate 7%

$1,057,614 $1.1M

Cap Rate 9%

$822,589 $822.6K

Market Conditions

NOI Build-Up for 6,960 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

$111.9K $16.08/SF

− Vacancy

−$6.2K −$0.88/SF

EGI

$105.8K $15.20/SF

− OpEx

−$31.7K −$4.56/SF

NOI

$74.0K $10.64/SF

Area

Plymouth County, MA

Vacancy

5.50%

Lease Rate

$16.08 /SF/Yr

Expense Ratio

30.00%

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%

$1,480,660

Cap Rate 7%

$1,057,614

Cap Rate 9%

$822,589

Alternative Uses

Best Use

Flex RnD

$1.84M

$1.61M – $2.15M (±1% cap)

NOI $128,934 @ 7.0% cap · market cap 10.75%

Second Best

Industrial

$1.06M

$925.4K – $1.23M (±1% cap)

NOI $74,033 @ 7.0% cap · market cap 6.17%

Theoretical Best

Office A

$4.12M

$3.61M – $4.81M (±1% cap)

NOI $288,421 @ 7.0% cap · market cap 24.04%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Plumbing Service Law Firm Grocery & Convenience Store Kitchen & Bath Showroom Real Estate Agency Computer & Electronic Repair

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

14

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 02538, MA

4,428

Population

1,825

Households

2.4

Avg Household Size

43

Median Age

22%

College-Educated

96%

High-School Grad

6.3 sq mi

ZIP Area

703

Density / Sq Mi

$110,882

Median Household Income

$52,429

Median Earnings

$1,548

Median Rent

$347,300

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Flex space - Two free-standing buildings with office and warehouse spaces available.

Where is this flex space located?

The property is located at 3091-3095 Cranberry Hwy Wareham East Wareham, MA.

What is the asking price?

The asking price for this property is $1,199,800.

What are key features of this property?

This property features: High traffic location with 27,000+ count on Cranberry Hwy; Two free‑standing commercial buildings; Multifunctional office and warehouse spaces in both buildings