Fall River Medical Office
For Sale
Contact for pricing
302 Highland Ave, Fall River, MA
Medical office building for sale or lease in Fall River.
Property Size4,527 SF
Lot Size0.29 Acres
Price / SF$198.59
Days on Market306
Property Features for 302 Highland Ave
General Information
Standard status
Active
Size
4,527 SF
Lot size
0.29 Acres
Property subtype
OFFICE
Listing Agency:
Collins Commercial Real Estate
(508) 676-8500
Listed By:
Nick King
(401) 265-8363
Source:
Moodyscre
Added: Nov 10, 2025
Changed: Jul 6
Last Checked: Sep 12 at 11:42AM
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 Collins Commercial Real Estate
Investment Insights
Based on property information with market context.
This medical office building is located in the Highland section of Fall River, directly across from Charlton Hospital. The building has a total area of 4,527 square feet on two floors, situated on 0.286 acres of land. On-site parking is available for 15 vehicles. The first floor is ADA accessible and includes a large reception area, 4 exam rooms, 1 OCT room, 2 laser rooms, 1 photo machine room, and an optical shop. The second floor features a kitchen, conference room, and office space. The property is available for sale or lease.
Key Highlights
- Prime medical office building location directly across from Charlton Hospital.
- Substantial price reduction for sale: now $899,000 (previously $1,000,000).
- ADA accessible first floor with specialized rooms (OCT, laser, photo machine, optical shop).
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
$74,408
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
8.28%
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%
$1,488,160
$1.5M
Cap Rate 7%
$1,062,971
$1.1M
Cap Rate 9%
$826,756
$826.8K
Market Conditions
NOI Build-Up for 4,527 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
$123.9K $27.36/SF
− Vacancy
−$24.6K −$5.44/SF
EGI
$99.2K $21.92/SF
− OpEx
−$24.8K −$5.48/SF
NOI
$74.4K $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 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%
$1,488,160
Cap Rate 7%
$1,062,971
Cap Rate 9%
$826,756
Alternative Uses
Best Use
Healthcare Medical
$1.88M
$1.64M – $2.19M
NOI $131,405 @ 7.0% cap · market cap 14.62%
Second Best
Office B
$1.06M
$930.1K – $1.24M
NOI $74,408 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $192,981 @ 7.0% cap · market cap 21.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,267
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building for sale or lease in Fall River.
Where is this medical office space located?
The property is located at 302 Highland Ave Fall River, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime medical office building location directly across from Charlton Hospital.; Substantial price reduction for sale: now $899,000 (previously $1,000,000).; ADA accessible first floor with specialized rooms (OCT, laser, photo machine, optical shop).
