Taco Bell Drive-Through
For Sale
Contact for pricing
18 West Grove Street, Middleboro, MA
Newly built Taco Bell location backed by an absolute NNN ground lease with scheduled rent increases and extension options.
Property Size3,000 SF
Lot Size0.67 Acres
Price / SF$480
Days on Market11
Property Features for 18 West Grove Street
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.67 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$72,000
Additional Details
Drive-Thru
Yes
Building Details
Year Built
2025
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Washington, D.C.
(443) 553-6755
Listed By:
Dean Zang · License #MD 665335
Source:
Crexi
Added: Aug 10
Changed: Aug 15
Last Checked: Aug 20 at 12:17PM
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 Marcus & Millichap - Washington, D.C.
Investment Insights
Based on property information with market context.
Completed in 2025, this Taco Bell restaurant includes approximately 3,000 square feet of building area and a drive-through on a 0.67-acre site at 18 West Grove Street. The property is subject to an absolute NNN ground lease with a 19+ year base term, 10% rent increases every five years, and four additional five-year option periods.
The site is positioned near the Middleborough MBTA station, which opened in March 2025 as part of the South Coast Rail expansion. A 108-unit residential development is under construction next to the property, adding to nearby multifamily communities including Middleborough Station and River Park Landings. The surrounding retail corridor includes Walgreens, Dunkin', McDonald's, Dairy Queen, and a Hannaford-anchored shopping center. The shopping center reports 1.6 million annual customer visits, while nearby schools and the Red Roof Inn contribute additional activity beyond peak meal periods.
The site is positioned near the Middleborough MBTA station, which opened in March 2025 as part of the South Coast Rail expansion. A 108-unit residential development is under construction next to the property, adding to nearby multifamily communities including Middleborough Station and River Park Landings. The surrounding retail corridor includes Walgreens, Dunkin', McDonald's, Dairy Queen, and a Hannaford-anchored shopping center. The shopping center reports 1.6 million annual customer visits, while nearby schools and the Red Roof Inn contribute additional activity beyond peak meal periods.
Key Highlights
- 3,000‑square‑foot Taco Bell restaurant with drive‑through
- 0.67‑acre site at 18 West Grove Street
- 2025 construction year
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
$55,453
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
3.85%
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%
$1,109,060
$1.1M
Cap Rate 7%
$792,186
$792.2K
Cap Rate 9%
$616,144
$616.1K
Market Conditions
NOI Build-Up for 3,000 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
$75.6K $25.20/SF
− Vacancy
−$1.7K −$0.55/SF
EGI
$73.9K $24.65/SF
− OpEx
−$18.5K −$6.16/SF
NOI
$55.5K $18.48/SF
Area
Plymouth County, MA
Vacancy
2.20%
Lease Rate
$25.20 /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%
$1,109,060
Cap Rate 7%
$792,186
Cap Rate 9%
$616,144
Alternative Uses
Best Use
Specialty Retail
$792.2K
$693.2K – $924.2K
NOI $55,453 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,319 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
96k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 45%
McDonald's
Dining
28,581 visits/mo
0.5 miles
Cumberland Farms
Shops & Services
25,319 visits/mo
0.4 miles
Dunkin' Donuts
Dining
13,982 visits/mo
0.4 miles
AutoZone
Shops & Services
9,261 visits/mo
0.4 miles
Dairy Queen
Dining
7,706 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Newly built Taco Bell location backed by an absolute NNN ground lease with scheduled rent increases and extension options.
Where is this drive through restaurant located?
The property is located at 18 West Grove Street Middleboro, MA.
What is the asking price?
The asking price for this property is $1,440,000.
What are key features of this property?
This property features: 3,000‑square‑foot Taco Bell restaurant with drive‑through; 0.67‑acre site at 18 West Grove Street; 2025 construction year
