Mixed-Use Medical Office
For Sale
$1,200,000
275 West Main Street, Norton, MA 02766
First-floor medical-ready commercial space with exam-room wiring and plumbing, plus two residential apartments and a leased basement unit.
Property Size4,171 SF
Price / SF$287.70
Days on Market102
Property Features for 275 West Main Street
General Information
Standard status
Active
Size
4,171 SF
Total Parking Spaces
1
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
screened porch
deck
full basement
Building Details
Year Built
1935
Stories
2
Tenancy
Multi
Listing Agency:
Conway - Hingham
Listed By:
Stanley Blackmur
(617) 875-4950
Source:
Sarkisboston
Added: May 27
Changed: Sep 4
Last Checked: Sep 4 at 10:09AM
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 Conway - Hingham
Investment Insights
Based on property information with market context.
This mixed-use property combines ground-floor commercial space with multiple residential units. The first floor offers 11 rooms and 2 baths, along with a 1-car garage and a full basement. The second floor includes a 2-bedroom apartment with a kitchen, full bath, screened porch, deck, and two large 21-by-26 rooms. There is also a basement apartment currently occupied by a tenant who intends to remain, with 3 rooms including a 1BR, kitchen, and full bath. The property currently has four bathrooms, and the septic system is designed for five.
The commercial space was most recently used as a general dental practice. Several rooms on the first floor are already set up with plumbing, electrical, and internet network wiring intended to support medical or specialty dental equipment, including exam rooms. The first-floor layout can be readily divided to create an additional residential apartment if desired.
Overall, the building presents a flexible configuration for owner-users and investors seeking both medical-ready commercial space and residential rental income.
The commercial space was most recently used as a general dental practice. Several rooms on the first floor are already set up with plumbing, electrical, and internet network wiring intended to support medical or specialty dental equipment, including exam rooms. The first-floor layout can be readily divided to create an additional residential apartment if desired.
Overall, the building presents a flexible configuration for owner-users and investors seeking both medical-ready commercial space and residential rental income.
Key Highlights
- Year built 1935 mixed‑use building with first‑floor commercial, second‑floor apartment, and a leased basement unit
- First‑floor commercial space has 11 rooms and 2 baths plus a 1‑car garage and full basement
- First‑floor space is medical‑ready, with exam rooms already having plumbing, electrical, and internet network wiring
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
$68,557
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
5.71%
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%
$1,371,140
$1.4M
Cap Rate 7%
$979,386
$979.4K
Cap Rate 9%
$761,744
$761.7K
Market Conditions
NOI Build-Up for 4,171 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
$114.1K $27.36/SF
− Vacancy
−$22.7K −$5.44/SF
EGI
$91.4K $21.92/SF
− OpEx
−$22.9K −$5.48/SF
NOI
$68.6K $16.44/SF
Area
Bristol County, MA
Vacancy
19.90%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
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%
$1,371,140
Cap Rate 7%
$979,386
Cap Rate 9%
$761,744
Alternative Uses
Best Use
Healthcare Medical
$1.73M
$1.51M – $2.02M
NOI $121,071 @ 7.0% cap · market cap 10.09%
Second Best
Office B
$979.4K
$857.0K – $1.14M
NOI $68,557 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,805 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 02766, MA
19,202
Population
6,725
Households
2.9
Avg Household Size
41
Median Age
46%
College-Educated
94%
High-School Grad
27.8 sq mi
ZIP Area
691
Density / Sq Mi
$127,404
Median Household Income
$60,134
Median Earnings
$1,986
Median Rent
$476,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - First-floor medical-ready commercial space with exam-room wiring and plumbing, plus two residential apartments and a leased basement unit.
Where is this mixed-use property located?
The property is located at 275 West Main Street Norton, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Year built 1935 mixed‑use building with first‑floor commercial, second‑floor apartment, and a leased basement unit; First‑floor commercial space has 11 rooms and 2 baths plus a 1‑car garage and full basement; First‑floor space is medical‑ready, with exam rooms already having plumbing, electrical, and internet network wiring
