Office-Industrial Flex
For Sale
Contact for pricing
21 Mazzeo Drive, Randolph, MA 02368
Flex office and warehouse configuration with a bonus basement and drive-in access, supported by on-site parking.
Property Size10,000 SF
Lot Size0.43 Acres
Price / SF$150
Days on Market141
Property Features for 21 Mazzeo Drive
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
40
Lot size
0.43 Acres
Property subtype
Office, Industrial
Zoning
Great Bear Swamp - HD
Occupancy
80%
Investment Type
Stabilized
Net Operating Income
$87,331
Additional Details
Drive-In Doors
1
Building Details
Year Built
1980
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
The Conrad Group
Listed By:
Jim McEvoy · License #MA 9015802
Source:
Crexi
Added: Jun 3
Changed: Oct 16
Last Checked: Oct 20 at 5:02PM
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 The Conrad Group
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Investment Insights
Based on property information with market context.
This office/industrial flex building offers 10,000+ square feet of building area plus an additional 5,000+ square foot basement that is equipped with a drive-in door, windows, and restrooms. The combination of office space with industrial utility makes the property well-suited for a range of back-office, light industrial, and operations-focused users.
The property is situated on 18,730+ square feet of land (.43+ acres) and includes 40+ parking spaces. The building is designed to support both employee parking and convenient loading access via the basement drive-in door.
For tenants or buyers seeking a single asset that can accommodate both work space and operational needs, this layout can support office-driven businesses alongside warehouse or storage functions. The presence of restrooms in the basement and the added drive-in access broaden how the lower level can be used, while the on-site parking helps facilitate daily operations.
The property is situated on 18,730+ square feet of land (.43+ acres) and includes 40+ parking spaces. The building is designed to support both employee parking and convenient loading access via the basement drive-in door.
For tenants or buyers seeking a single asset that can accommodate both work space and operational needs, this layout can support office-driven businesses alongside warehouse or storage functions. The presence of restrooms in the basement and the added drive-in access broaden how the lower level can be used, while the on-site parking helps facilitate daily operations.
Key Highlights
- Office/industrial building at 21 Mazzeo Drive, Randolph, MA, built in 1980
- 10,000+ SF building area with a bonus 5,000+ SF basement
- Bonus basement includes a drive‑in door, windows, and restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,369
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,127,380
$2.1M
Cap Rate 7%
$1,519,557
$1.5M
Cap Rate 9%
$1,181,878
$1.2M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$160.8K $16.08/SF
− Vacancy
−$8.8K −$0.88/SF
EGI
$152.0K $15.20/SF
− OpEx
−$45.6K −$4.56/SF
NOI
$106.4K $10.64/SF
Area
Norfolk County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,127,380
Cap Rate 7%
$1,519,557
Cap Rate 9%
$1,181,878
Alternative Uses
Best Use
Flex RnD
$2.45M
$2.15M – $2.86M
NOI $171,600 @ 7.0% cap · market cap 11.44%
Second Best
Industrial
$1.52M
$1.33M – $1.77M
NOI $106,369 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$5.92M
$5.18M – $6.91M
NOI $414,397 @ 7.0% cap · market cap 27.63%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02368, MA
35,025
Population
13,091
Households
2.7
Avg Household Size
42
Median Age
35%
College-Educated
88%
High-School Grad
9.3 sq mi
ZIP Area
3,766
Density / Sq Mi
$103,321
Median Household Income
$52,614
Median Earnings
$2,049
Median Rent
$464,000
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex office and warehouse configuration with a bonus basement and drive-in access, supported by on-site parking.
Where is this flex space located?
The property is located at 21 Mazzeo Drive Randolph, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Office/industrial building at 21 Mazzeo Drive, Randolph, MA, built in 1980; 10,000+ SF building area with a bonus 5,000+ SF basement; Bonus basement includes a drive‑in door, windows, and restrooms
