Restaurant Space with Retail
For Sale
Contact for pricing
2 NORFOLK RD, Holbrook, MA 02343
Commercial premises configured for both restaurant and retail use in a downtown setting.
Property Size2,450 SF
Price / SF$306.12
Days on Market15
Property Features for 2 NORFOLK RD
General Information
Standard status
Active
Size
2,450 SF
Total Parking Spaces
8
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
2000
Stories
1
Units
1
Listing Agency:
Property Navigator
Listed By:
Maurice Fraone · License #MA 9509433-RE-B
Source:
Crexi
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 10 at 1:46PM
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 Property Navigator
Investment Insights
Based on property information with market context.
This 2,450-square-foot commercial property is configured for restaurant and retail use. The building was constructed in 2000 and is identified as a conventional restaurant asset. Located at 2 Norfolk Rd in Holbrook, Massachusetts, the property is described as being along a major artery in the downtown area, with visibility from that corridor.
Key Highlights
- 2,450‑square‑foot restaurant and retail space
- Constructed in 2000
- Located along a major downtown artery
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
$45,101
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
6.01%
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%
$902,020
$902.0K
Cap Rate 7%
$644,300
$644.3K
Cap Rate 9%
$501,122
$501.1K
Market Conditions
NOI Build-Up for 2,450 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
$61.7K $25.20/SF
− Vacancy
−$1.6K −$0.66/SF
EGI
$60.1K $24.54/SF
− OpEx
−$15.0K −$6.14/SF
NOI
$45.1K $18.41/SF
Area
Norfolk County, MA
Vacancy
2.60%
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%
$902,020
Cap Rate 7%
$644,300
Cap Rate 9%
$501,122
Alternative Uses
Best Use
Specialty Retail
$644.3K
$563.8K – $751.7K
NOI $45,101 @ 7.0% cap · market cap 6.01%
Second Best
Retail
$595.6K
$521.2K – $694.9K
NOI $41,693 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,527 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Dunkin' Donuts
Dining
10,268 visits/mo
0.1 miles
Dunkin' Donuts
Dining
5,991 visits/mo
0.1 miles
Demographics for 02343, MA
11,364
Population
4,268
Households
2.7
Avg Household Size
42
Median Age
37%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
1,623
Density / Sq Mi
$107,198
Median Household Income
$56,269
Median Earnings
$1,522
Median Rent
$435,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial premises configured for both restaurant and retail use in a downtown setting.
Where is this conventional restaurant located?
The property is located at 2 NORFOLK RD Holbrook, 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: 2,450‑square‑foot restaurant and retail space; Constructed in 2000; Located along a major downtown artery
