Building Details

Building Size 5,100 SF

Year Built 1994

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 14 at 9:44PM

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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

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Investment Insights

Based on property information with market context.

This flex space combines professional office improvements with adaptable commercial workspace in a finished setting. Available configurations range from ±2,000 to 5,100 SF, with a ground-level door equipped with a power lift. The property was built in 1994 and carries Commercial zoning.

The site is positioned on Route 140 with convenient connections to Routes 95 and 495. Ample parking is available, supporting office and flex-space operations. The combination of finished office areas, loading functionality, and flexible sizing accommodates a range of commercial occupancy requirements.

Key Highlights

• ±2,000‑5,100 SF of professional office and flex space
• Ground‑level door with power lift
• Located on Route 140 with access to Routes 95 and 495

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,248

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,084,960 $1.1M

Cap Rate 7%

$774,971 $775.0K

Cap Rate 9%

$602,756 $602.8K

What to ask about pricing

Market Conditions

NOI Build-Up for 5,100 SF

Gross rent

$82.0K $16.08/SF

− Vacancy

−$4.5K −$0.88/SF

EGI

$77.5K $15.20/SF

− OpEx

−$23.2K −$4.56/SF

NOI

$54.2K $10.64/SF

Area

Norfolk 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 Rate 5%

$1,084,960

Cap Rate 7%

$774,971

Cap Rate 9%

$602,756

Alternative Uses

Best Use

Office B

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $111,913 @ 7.0% cap · market cap 932,608.33%

Second Best

Flex RnD

$1.25M

$1.09M – $1.46M (±1% cap)

NOI $87,516 @ 7.0% cap · market cap 729,300.00%

Theoretical Best

Office A

$3.02M

$2.64M – $3.52M (±1% cap)

NOI $211,343 @ 7.0% cap · market cap 1,761,191.67%

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

Property Analytics

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Current Use

Right at Home Home Health Care Service Power 3 Communications Electronics & Wireless Store Basheer Ahmed MD Physician Market Advantage Plus Big Box & Wholesale Store all natural distributors ... Big Box & Wholesale Store

Suggested Use

Top Pick Parking Lot & Garage Auto Parts Store Grocery & Convenience Store Building Supply Furniture & Home Goods (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

737

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 02035, MA

18,618

Population

7,414

Households

2.5

Avg Household Size

42

Median Age

58%

College-Educated

97%

High-School Grad

19.9 sq mi

ZIP Area

936

Density / Sq Mi

$108,559

Median Household Income

$62,457

Median Earnings

$1,763

Median Rent

$581,900

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Commercially zoned office-flex space with a powered ground-level loading door and convenient regional highway access.

Where is this flex space located?

The property is located at 56 Leonard St Foxboro, MA.

What are key features of this property?

This property features: ±2,000‑5,100 SF of professional office and flex space; Ground‑level door with power lift; Located on Route 140 with access to Routes 95 and 495