Building Details

Building Size 7,000 SF

Year Built 1983

Listing Agency: Atlantic Commercial Real Estate, LLC Show Phone

Listed By: Mark Kearins · License #138273-RE-B

Source: Churchillprop

Added: Sep 4, 2023 Changed: Oct 6 Last Checked: Oct 12 at 6:29PM

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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 Atlantic Commercial Real Estate, LLC

Investment Insights

Based on property information with market context.

This is a 7,000 square foot industrial/automotive building. The property has potential for auto repair, autobody, transmission, etc., and an existing transmission business with a Class II license is also available. The building features a high ceiling warehouse and four drive-in doors. It offers quick and convenient access to Routes 128, 95, and 1. Ample parking and yard space are available. The property could accommodate multiple tenants or an owner-user.

Key Highlights

• Quick, convenient access to Routes 128, 95 and 1
• ±7,000 SF Industrial/Automotive Building
• Multiple Tenants and space for owner user

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$119,124

Cap Rate

4.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,382,480 $2.4M

Cap Rate 7%

$1,701,771 $1.7M

Cap Rate 9%

$1,323,600 $1.3M

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$174.7K $24.96/SF

− Vacancy

−$4.5K −$0.65/SF

EGI

$170.2K $24.31/SF

− OpEx

−$51.1K −$7.29/SF

NOI

$119.1K $17.02/SF

Area

Norfolk County, MA

Vacancy

2.60%

Lease Rate

$24.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,382,480

Cap Rate 7%

$1,701,771

Cap Rate 9%

$1,323,600

Alternative Uses

Best Use

Retail

$1.70M

$1.49M – $1.99M (±1% cap)

NOI $119,124 @ 7.0% cap · market cap 4.86%

Second Best

Warehouse

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,414 @ 7.0% cap · market cap 3.69%

Theoretical Best

Office A

$4.14M

$3.63M – $4.83M (±1% cap)

NOI $290,078 @ 7.0% cap · market cap 11.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

TNT Auto Detailing ... Auto Repair Shop Batco Transmissions Auto Repair Shop Michael Grella Plumbing ... Plumbing Service Lifeline Ambulance Ambulance Service

Suggested Use

Top Pick Pharmacy Real Estate Agency Parking Lot & Garage (Bike/Boat/Book/etc) Store Hotel & Motel Food Market

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

927

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 02062, MA

31,611

Population

13,961

Households

2.3

Avg Household Size

41

Median Age

53%

College-Educated

93%

High-School Grad

10.5 sq mi

ZIP Area

3,011

Density / Sq Mi

$97,110

Median Household Income

$60,434

Median Earnings

$2,056

Median Rent

$613,500

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Auto shop - 7,000 SF industrial/automotive building with multiple tenants.

Where is this auto shop located?

The property is located at 915 Pleasant St Norwood, MA.

What is the asking price?

The asking price for this property is $2,450,000.

What are key features of this property?

This property features: Quick, convenient access to Routes 128, 95 and 1; ±7,000 SF Industrial/Automotive Building; Multiple Tenants and space for owner user