Mixed-Use Commercial Condo
For Sale
$375,000
Pending
C-1391 Main St, Walpole, MA 02081
First-floor commercial space in a mixed-use property with dedicated upper condominium parking and ample onsite parking.
Property Size2,000 SF
Days on Market598
Property Features for C-1391 Main St
General Information
Standard status
Pending
Size
2,000 SF
Total Parking Spaces
23
Building Details
Stories
3
Listing Agency:
StartPoint Realty
(978) 422-3999
Listed By:
Steve Cunningham
(508) 801-6858
Source:
Exprealty
Added: Jan 15, 2025
Changed: Aug 31
Last Checked: Sep 5 at 10:41AM
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 StartPoint Realty
Investment Insights
Based on property information with market context.
This listing offers first-floor commercial condo space within a mixed-use property that also includes luxury condominiums on two upper floors. The builder will subdivide the space to suit the buyer, and buyer is responsible for buildout.
The property is positioned for exposure to Main Street traffic flow and provides ample parking, with 23+ spaces available and additional parking potentially possible depending on the business. The upper condominium units have separate parking.
The space is described as well-suited for uses such as a convenience store, office space, accountants and lawyers, and retail.
The property is positioned for exposure to Main Street traffic flow and provides ample parking, with 23+ spaces available and additional parking potentially possible depending on the business. The upper condominium units have separate parking.
The space is described as well-suited for uses such as a convenience store, office space, accountants and lawyers, and retail.
Key Highlights
- First‑floor commercial space in a mixed‑use property with luxury condominiums on two floors above
- 8500 SF total commercial space available; listing is for 2000 SF (buyer responsible for buildout)
- Offered for sale or lease at $170/SF, with 2000 SF included in the listing
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
$34,035
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
9.08%
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%
$680,700
$680.7K
Cap Rate 7%
$486,214
$486.2K
Cap Rate 9%
$378,167
$378.2K
Market Conditions
NOI Build-Up for 2,000 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
$49.9K $24.96/SF
− Vacancy
−$1.3K −$0.65/SF
EGI
$48.6K $24.31/SF
− OpEx
−$14.6K −$7.29/SF
NOI
$34.0K $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%
$680,700
Cap Rate 7%
$486,214
Cap Rate 9%
$378,167
Alternative Uses
Best Use
Office B
$627.0K
$548.6K – $731.5K
NOI $43,888 @ 7.0% cap · market cap 11.70%
Second Best
Retail
$486.2K
$425.4K – $567.3K
NOI $34,035 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,879 @ 7.0% cap · market cap 22.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 02081, MA
20,584
Population
7,663
Households
2.7
Avg Household Size
43
Median Age
61%
College-Educated
97%
High-School Grad
17.7 sq mi
ZIP Area
1,163
Density / Sq Mi
$150,233
Median Household Income
$75,808
Median Earnings
$1,980
Median Rent
$647,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - First-floor commercial space in a mixed-use property with dedicated upper condominium parking and ample onsite parking.
Where is this mixed-use property located?
The property is located at C-1391 Main St Walpole, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: First‑floor commercial space in a mixed‑use property with luxury condominiums on two floors above; 8500 SF total commercial space available; listing is for 2000 SF (buyer responsible for buildout); Offered for sale or lease at $170/SF, with 2000 SF included in the listing
