Live-Work Property with
273 W Main St, Norton, MA 02766
For Sale
$739,000
The property currently operates as a spa and has a flexible, multi-room layout.
Property Size1,944 SF
Price / SF$380.14
Days on Market47
Property Features for 273 W Main St
General Information
Standard status
Size
Total Parking Spaces
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
LAER Realty Partners / Rose Homes & Real Estate
Listed By:
Rose Homes - LAER Realty Partners
(508) 889-0186
Source:
Laerrealty
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 8 at 3:10AM
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 LAER Realty Partners / Rose Homes & Real Estate
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Investment Insights
Based on property information with market context.
At 273 W Main St, this approximately 1,944-square-foot property is currently used as a spa. Its interior includes multiple rooms and 1.5 baths, with a large paved parking area and handicap accessibility. Built in 1900, the property was originally designed as a single-family home. Continued spa use, residential use, or a combination of uses may be considered, subject to zoning and Town requirements for the intended use.
The property fronts Route 123 in Norton, with access to Routes 140 and 495. Its current configuration and former residential design offer a range of possible arrangements, subject to applicable approvals.
The property fronts Route 123 in Norton, with access to Routes 140 and 495. Its current configuration and former residential design offer a range of possible arrangements, subject to applicable approvals.
Key Highlights
- Approximately 1,944 square feet with multiple rooms and 1.5 baths
- Currently operating as a spa; originally designed as a single‑family home
- Large paved parking area with handicap accessibility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,953
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,060
$639.1K
Cap Rate 7%
$456,471
$456.5K
Cap Rate 9%
$355,033
$355.0K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$53.2K $27.36/SF
− Vacancy
−$10.6K −$5.44/SF
EGI
$42.6K $21.92/SF
− OpEx
−$10.7K −$5.48/SF
NOI
$32.0K $16.44/SF
Area
Bristol County, MA
Vacancy
19.90%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,060
Cap Rate 7%
$456,471
Cap Rate 9%
$355,033
Alternative Uses
Best Use
Office B
$456.5K
$399.4K – $532.6K
NOI $31,953 @ 7.0% cap · market cap 4.32%
Second Best
Mixed Use
$328.1K
$287.1K – $382.7K
NOI $22,964 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,870 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
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Business Placement
Demographics for 02766, MA
19,202
Population
6,725
Households
2.9
Avg Household Size
41
Median Age
46%
College-Educated
94%
High-School Grad
27.8 sq mi
ZIP Area
691
Density / Sq Mi
$127,404
Median Household Income
$60,134
Median Earnings
$1,986
Median Rent
$476,900
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Live-work space - The property currently operates as a spa and has a flexible, multi-room layout.
Where is this live-work space located?
The property is located at 273 W Main St Norton, MA.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Approximately 1,944 square feet with multiple rooms and 1.5 baths; Currently operating as a spa; originally designed as a single‑family home; Large paved parking area with handicap accessibility
