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    Patriot Place Mixed-Use Center Title is generated by Realmo AI

    2 Patriot Pl, Foxborough, MA 02035

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    Patriot Place

    Property size:
    1,400,000 SF
    Added:
    Mar 2, 2026
    Days on Market:
    92
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 2 Patriot Pl

    General Information

    Standard status
    Active
    Property type
    Mixed-use properties
    Size
    1,400,000 SF
    Lease Type
    Gross Lease
    Lease Term
    Monthly
    Rate Type
    Yearly

    We can help!

    Listing Contact
    Daniel Dori

    Listing agent Daniel

    Listing office

    Listing date Mar 2, 2026

    Overview

    Patriot Place is an open-air lifestyle center located in Foxborough, Massachusetts. This mixed-use property features shopping, dining, and entertainment options. Situated around Gillette Stadium, home to the New England Patriots and New England Revolution, the property encompasses over 1,400,000 square feet of retail, entertainment, restaurants, medical, and office space. The location attracts over 10 million annual visits.
    Location Intelligence

    Current Use by Public Records

    Express Clothing & Fashion Store Patriot Place Shopping Center & Mall ChargePoint Charging Station Electric Vehicle Charging Station Patriot Place Management ... Property Management Company Gillette Stadium Lot ... Parking Lot & Garage

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Foxborough
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.2456
    Latitude
    42.0631

    Nearby Similar for Lease

    • $129-$5,616/Mo
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      MA, Foxborough - Patriot Place

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      High-End Office and Storage Space

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      High Visibility Office Space

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      Retail Space in Patriot Place

      Retail space available within a large open-air lifestyle center.
      213 Patriot Pl, Foxborough, MA
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      21,000 SF

      Foxborough Retail Space Sublease

      21,000 SF retail space available for sublease in Foxborough.
      256 Patriot Pl, Foxborough, MA
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      45,000 SF

      Foxborough Warehouse Space Available

      20,000-45,000 SF of warehouse space available for lease.
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      21,380 SF

      Patriot Place Retail Opportunity

      Retail and restaurant spaces available in Patriot Place.
      350-392 Patriot Pl, Foxborough, MA
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      2,605 SF

      Retail Space in Patriot Place

      Retail space available within a large open-air lifestyle center.
      Patriot Pl 24, Foxborough, MA
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      14,573 SF

      Retail Space at Patriot Place

      Retail space available within a large open-air lifestyle center.
      Patriot Pl 240, Foxborough, MA
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      5,680 SF

      Flex/Industrial Space Near Commuter Rail

      Flex/industrial space with amenities near Mansfield Commuter Rail.
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      Office Space at Patriot Place

      Office space available in a vibrant retail and entertainment area.
      26 Patriot Pl, Foxborough, MA
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      45,000 SF

      Foxborough Office Space Available

      Office space available in Foxborough, ranging from 20,000-45,000 SF.
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    FAQs

    What type of property is this?
    Mixed-use property - Patriot Place
    Where is this mixed-use property located?
    The property is located at 2 Patriot Pl Foxborough, MA.
    (617) 794-0505
    We can help!
    Listing Contact
    Daniel Dori
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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