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$160
Days on Market59
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
Additional Details
Drive-In Doors
1
Building Details
Year Built
1980
Listing Agency:
The Conrad Group
Listed By:
Jim McEvoy · License #MA 9015802
Source:
Crexi
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 30 at 9:51AM
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
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 For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $160.8k | $16.08 |
| − Vacancy | −$8.8k | −$0.88 |
| EGI | $152.0k | $15.20 |
| − OpEx | −$22.8k | −$2.28 |
| NOI | $129.2k | $12.92 |
10,000 SF · lease $16.08/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Office B
$3.13M
$2.74M – $3.66M
NOI $219,438 @ 7.0% cap · market cap 13.71%
Second Best
Flex RnD
$2.45M
$2.15M – $2.86M
NOI $171,600 @ 7.0% cap · market cap 10.73%
Theoretical Best
Office A
$5.92M
$5.18M – $6.91M
NOI $414,397 @ 7.0% cap · market cap 25.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office 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 $1,600,000.
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
