Building Details

Building Size 6,000 SF

Year Built 2025

Buildings 1

Listing Agency: REMAX Executive Realty Show Phone

Listed By: Lorraine Kuney · License #810167 Show Phone

Source: Churchillprop

Added: Apr 6 Changed: Oct 25 Last Checked: Oct 30 at 12:58PM

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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 REMAX Executive Realty

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Investment Insights

Based on property information with market context.

Built in 2025, this 7,500-square-foot flex property includes five warehouse/industrial garage spaces of 1,500 square feet each. Units measure 60 x 25 feet, include a bathroom, and can be combined to create larger configurations of up to 7,500 square feet. Each unit includes 2–3 parking spots, supporting a range of commercial shop and garage uses.

The building is located on a 3.58-acre parcel at 276 South St in Walpole, with access to Route 1 and Route 1A. The existing site also includes two other commercial buildings that are leased out. Water usage is included, while electric, propane heat, and cable/internet are paid by the tenant.

Key Highlights

• New 2025 building with 7,500 square feet of flex space
• Five 1,500‑square‑foot warehouse/industrial garage spaces available
• Each unit measures 60 x 25 feet and includes a bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$79,777

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,595,540 $1.6M

Cap Rate 7%

$1,139,671 $1.1M

Cap Rate 9%

$886,411 $886.4K

What to ask about pricing

Market Conditions

NOI Build-Up for 7,500 SF

Gross rent

$120.6K $16.08/SF

− Vacancy

−$6.6K −$0.88/SF

EGI

$114.0K $15.20/SF

− OpEx

−$34.2K −$4.56/SF

NOI

$79.8K $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%

$1,595,540

Cap Rate 7%

$1,139,671

Cap Rate 9%

$886,411

Alternative Uses

Best Use

Flex RnD

$1.84M

$1.61M – $2.15M (±1% cap)

NOI $128,700 @ 7.0% cap · market cap 4,342.11%

Second Best

Warehouse

$1.38M

$1.21M – $1.61M (±1% cap)

NOI $96,872 @ 7.0% cap · market cap 3,268.29%

Theoretical Best

Office A

$4.44M

$3.88M – $5.18M (±1% cap)

NOI $310,798 @ 7.0% cap · market cap 10,485.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Hair Salon Restaurant HVAC Service Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

249

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 02081, MA

20,584

Population

7,663

Households

2.7

Avg Household Size

43

Median Age

61%

College-Educated

97%

High-School Grad

17.7 sq mi

ZIP Area

1,163

Density / Sq Mi

$150,233

Median Household Income

$75,808

Median Earnings

$1,980

Median Rent

$647,200

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Configurable commercial shop space with individual bathrooms and on-site parking.

Where is this flex space located?

The property is located at 276 South St Walpole, MA.

What are key features of this property?

This property features: New 2025 building with 7,500 square feet of flex space; Five 1,500‑square‑foot warehouse/industrial garage spaces available; Each unit measures 60 x 25 feet and includes a bathroom