Industrial/Automotive Building with High
For Sale
$2,450,000
915 Pleasant St, Norwood, MA 02062
7,000 SF industrial/automotive building with multiple tenants.
Property Size7,000 SF
Price / SF$350
Days on Market1097
Property Features for 915 Pleasant St
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$15,014
Building Details
Building Size
7,000 SF
Year Built
1983
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 4, 2023
Changed: Sep 4
Last Checked: Sep 4 at 2:29AM
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 Herion Karbunara
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 = 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
$119,124
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
4.86%
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%
$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
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
$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 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%
$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
NOI $119,124 @ 7.0% cap · market cap 4.86%
Second Best
Warehouse
$1.29M
$1.13M – $1.51M
NOI $90,414 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,078 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- D B A Auto Body Inc — 231 Washington St, East Walpole, MA 02032
- M P Tow Truck Norwood MA — 3 Edgewater Dr #101, Norwood, MA 02062
- Auto Mile Services — 1080 Pleasant St, Norwood, MA 02062
- Performance Restoration — 1081 Pleasant St C, Norwood, MA 02062
- Dewalt — 1400 Providence Hwy #3150, Norwood, MA 02062
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
