First-Floor Office
For Sale
$149,900
23-1017 Turnpike St, Canton, MA 02021
Ground-level suite offers convenient client access and an efficient layout for private offices or open work areas.
Property Size592 SF
Price / SF$253.21
Days on Market168
Property Features for 23-1017 Turnpike St
General Information
Standard status
Active
Size
592 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
1
Taxes and HOA fees
Annual Taxes
$1,822
Listing Agency:
DMG Brokerage, LLC
(617) 895-9298
Listed By:
Jonathan Simon
(617) 895-9298
Source:
Exprealty
Added: Mar 17
Changed: Aug 31
Last Checked: Aug 31 at 5:07AM
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 DMG Brokerage, LLC
Investment Insights
Based on property information with market context.
This 592-square-foot office condominium occupies the first floor at 23-1017 Turnpike St. in Canton, Massachusetts. Ground-level entry supports convenient access for clients and staff, while the efficient suite layout can accommodate private offices, open work areas, or a small practice. The property is professionally managed and includes on-site parking.
The office is positioned along Turnpike Street, also designated Route 138, with access to Route 95, Route 93, and nearby amenities. Its configuration and accessibility support medical, professional, and service-oriented office uses identified for the suite.
The office is positioned along Turnpike Street, also designated Route 138, with access to Route 95, Route 93, and nearby amenities. Its configuration and accessibility support medical, professional, and service-oriented office uses identified for the suite.
Key Highlights
- 592 SF first‑floor office condominium
- Ground‑level access for clients and staff
- Efficient layout for private offices, open work areas, or a small practice
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
$12,991
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
8.67%
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%
$259,820
$259.8K
Cap Rate 7%
$185,586
$185.6K
Cap Rate 9%
$144,344
$144.3K
Market Conditions
NOI Build-Up for 592 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
$20.7K $35.04/SF
− Vacancy
−$3.4K −$5.78/SF
EGI
$17.3K $29.26/SF
− OpEx
−$4.3K −$7.31/SF
NOI
$13.0K $21.94/SF
Area
Norfolk County, MA
Vacancy
16.50%
Lease Rate
$35.04 /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%
$259,820
Cap Rate 7%
$185,586
Cap Rate 9%
$144,344
Alternative Uses
Best Use
Office B
$185.6K
$162.4K – $216.5K
NOI $12,991 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$350.5K
$306.7K – $408.9K
NOI $24,532 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 02021, MA
24,370
Population
9,955
Households
2.4
Avg Household Size
43
Median Age
65%
College-Educated
97%
High-School Grad
18.7 sq mi
ZIP Area
1,303
Density / Sq Mi
$128,341
Median Household Income
$80,408
Median Earnings
$2,237
Median Rent
$665,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Ground-level suite offers convenient client access and an efficient layout for private offices or open work areas.
Where is this office units located?
The property is located at 23-1017 Turnpike St Canton, MA.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 592 SF first‑floor office condominium; Ground‑level access for clients and staff; Efficient layout for private offices, open work areas, or a small practice
