Freestanding Two-Story Office
For Sale
Contact for pricing
157 Central St, Norwood, MA 02062
Corner-lot property with dedicated parking, commuter rail access, and flexibility for office, retail, or professional service use.
Property Size6,258 SF
Price / SF$0.00
Days on Market51
Property Features for 157 Central St
General Information
Standard status
Active
Size
6,258 SF
Total Parking Spaces
16
Property subtype
Commercial
Site & Location
Corner Location
Yes
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1924
Buildings
1
Stories
2
Listing Agency:
Coldwell Banker Realty - Westwood
(781) 320-0550
Listed By:
Michael Viano · License #449513577
(617) 365-9466
Source:
Lockandkeyre
Added: Sep 1
Changed: Oct 21
Last Checked: Oct 20 at 9:39PM
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 Coldwell Banker Realty - Westwood
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Investment Insights
Based on property information with market context.
This freestanding two-story office building contains 6,258 square feet and occupies a corner lot in Norwood. Constructed in 1924, the property offers a commercial setting suited to office, retail, and professional service uses. Dedicated parking supports on-site access, with additional public parking options nearby.
The property is near Norwood Depot Commuter Rail and provides access to Route 1 and I-95. Its Central Street location places the building within a downtown setting, with municipal parking across the street and additional on-street parking available. Approximately 16 dedicated parking spaces are included.
The property is near Norwood Depot Commuter Rail and provides access to Route 1 and I-95. Its Central Street location places the building within a downtown setting, with municipal parking across the street and additional on-street parking available. Approximately 16 dedicated parking spaces are included.
Key Highlights
- 6,258‑square‑foot freestanding two‑story office building
- Approximately 16 dedicated parking spaces
- Corner‑lot setting with additional on‑street and municipal parking nearby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,497
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,129,940
$2.1M
Cap Rate 7%
$1,521,386
$1.5M
Cap Rate 9%
$1,183,300
$1.2M
Market Conditions
NOI Build-Up for 6,258 SF
Gross rent
$156.2K $24.96/SF
− Vacancy
−$4.1K −$0.65/SF
EGI
$152.1K $24.31/SF
− OpEx
−$45.6K −$7.29/SF
NOI
$106.5K $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 Rate 5%
$2,129,940
Cap Rate 7%
$1,521,386
Cap Rate 9%
$1,183,300
Alternative Uses
Best Use
Office B
$1.96M
$1.72M – $2.29M
NOI $137,324 @ 7.0% cap · market cap 549,296.00%
Second Best
Retail
$1.52M
$1.33M – $1.77M
NOI $106,497 @ 7.0% cap · market cap 425,988.00%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,330 @ 7.0% cap · market cap 1,037,320.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,565
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Corner-lot property with dedicated parking, commuter rail access, and flexibility for office, retail, or professional service use.
Where is this office building located?
The property is located at 157 Central St Norwood, MA.
What are key features of this property?
This property features: 6,258‑square‑foot freestanding two‑story office building; Approximately 16 dedicated parking spaces; Corner‑lot setting with additional on‑street and municipal parking nearby
