Plymouth Sober House
For Sale
$1,490,000
230 Summer Street, Plymouth, MA 02360
MASH certified sober house with long-term triple net lease.
Property Size3,814 SF
Lot Size2.24 Acres
Price / SF$390.67
Days on Market378
Property Features for 230 Summer Street
General Information
Standard status
Active
Size
3,814 SF
Lot size
2.24 Acres
Property subtype
Commercial
Building Details
Year Built
1845
Listing Agency:
JMR Commercial RE Services
(617) 851-3458
Listed By:
J. Murray Regan
Source:
Stevebremis
Added: Jul 31, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:48AM
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 JMR Commercial RE Services
Investment Insights
Based on property information with market context.
Located at 230 Summer St in Plymouth, this sober house offers a secure investment opportunity in a sought-after location. Constructed in 1845 and renovated in 2023-24, the residence provides 3,814 square feet of living space on a 97,537 square foot lot. The property is MASH certified for 22 beds and is leased on a pure triple net basis for 20 years, commencing in April 2023, with annual rent increases of 2.5%. The current rent is $134,087, providing a 9.00% yield for the investor. This property is suitable for a 1031 exchange buyer. It can be purchased together with another MASH certified 24-bed sober house at 4 Nook Rd in Plymouth, which has an identical yield profile.
Key Highlights
- MASH Certified sober house with 22 beds.
- Long‑term, pure triple net lease in place for 20 years (commenced April 2023) providing stable, passive income.
- Attractive 9.00% yield on current rent of $134,087, offering a strong return on investment.
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
$71,123
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
4.77%
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%
$1,422,460
$1.4M
Cap Rate 7%
$1,016,043
$1.0M
Cap Rate 9%
$790,256
$790.3K
Market Conditions
NOI Build-Up for 3,814 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
$128.2K $33.60/SF
− Vacancy
−$9.6K −$2.52/SF
EGI
$118.5K $31.08/SF
− OpEx
−$47.4K −$12.43/SF
NOI
$71.1K $18.65/SF
Area
Plymouth County, MA
Vacancy
7.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,422,460
Cap Rate 7%
$1,016,043
Cap Rate 9%
$790,256
Alternative Uses
Best Use
Healthcare Medical
$1.02M
$889.0K – $1.19M
NOI $71,123 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.63M
NOI $158,051 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - MASH certified sober house with long-term triple net lease.
Where is this rehabilitation center located?
The property is located at 230 Summer Street Plymouth, MA.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: MASH Certified sober house with 22 beds.; Long‑term, pure triple net lease in place for 20 years (commenced April 2023) providing stable, passive income.; Attractive 9.00% yield on current rent of $134,087, offering a strong return on investment.
