Mixed-Use Building with Restaurant
For Sale
$750,000
Pending
15 School St, Taunton, MA 02780
Ground-floor commercial area pairs with two one-bedroom residential rentals.
Property Size4,650 SF
Days on Market130
Property Features for 15 School St
General Information
Standard status
Pending
Size
4,650 SF
Property subtype
Commercial
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$14,910
Building Details
Building Size
4,650 SF
Year Built
1940
Year Renovated
2021
Buildings
1
Stories
2
Listing Agency:
(508) 208-9613
Listed By:
Colleen & Company Team
(508) 208-9613
Source:
Elliman
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 30 at 3:37PM
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 Colleen & Company Team
Investment Insights
Based on property information with market context.
Built in 1940, this mixed-use property combines a 3,100-square-foot open commercial floor on the ground level with two one-bedroom residential rental units upstairs. The residential component totals approximately 1,550 square feet. A restaurant kitchen remodel was completed in 2021, supporting continued restaurant use of the commercial area.
The building received substantial improvements in 2015, including a refreshed exterior, replacement windows, updated HVAC, a full sprinkler system, and handicapped-accessible bathrooms. Additional parking is available in the garage across the street, with access from Leonard St. The property is located at 15 School St in Taunton, Massachusetts, within the downtown area.
The building received substantial improvements in 2015, including a refreshed exterior, replacement windows, updated HVAC, a full sprinkler system, and handicapped-accessible bathrooms. Additional parking is available in the garage across the street, with access from Leonard St. The property is located at 15 School St in Taunton, Massachusetts, within the downtown area.
Key Highlights
- 3,100 SF of open ground‑floor commercial space
- Two 1 bedroom residential rental units totaling approximately 1,550 SF
- Restaurant kitchen remodel completed in 2021
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
$61,394
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
8.19%
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%
$1,227,880
$1.2M
Cap Rate 7%
$877,057
$877.1K
Cap Rate 9%
$682,156
$682.2K
Market Conditions
NOI Build-Up for 4,650 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
$83.7K $18.00/SF
− Vacancy
−$1.8K −$0.40/SF
EGI
$81.9K $17.60/SF
− OpEx
−$20.5K −$4.40/SF
NOI
$61.4K $13.20/SF
Area
Bristol County, MA
Vacancy
2.20%
Lease Rate
$18.00 /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%
$1,227,880
Cap Rate 7%
$877,057
Cap Rate 9%
$682,156
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,100 @ 7.0% cap · market cap 11.08%
Second Best
Apartment 5plus
$1.10M
$965.4K – $1.29M
NOI $77,228 @ 7.0% cap · market cap 10.30%
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,224 @ 7.0% cap · market cap 26.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
Explore this area
Business Placement
Demographics for 02780, MA
52,299
Population
22,454
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
85%
High-School Grad
33.1 sq mi
ZIP Area
1,580
Density / Sq Mi
$75,054
Median Household Income
$48,454
Median Earnings
$1,257
Median Rent
$377,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial area pairs with two one-bedroom residential rentals.
Where is this mixed-use property located?
The property is located at 15 School St Taunton, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,100 SF of open ground‑floor commercial space; Two 1 bedroom residential rental units totaling approximately 1,550 SF; Restaurant kitchen remodel completed in 2021
