Modernized Office Building in
For Sale
$725,000
Pending
306 Main St, Wilmington, MA 01887
Well-maintained commercial building with modernized systems and ample parking.
Property Size1,716 SF
Lot Size0.21 Acres
Days on Market265
Property Features for 306 Main St
General Information
Standard status
Pending
Size
1,716 SF
Lot size
0.21 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,202
Building Details
Building Size
1,716 SF
Year Built
1839
Listing Agency:
(978) 764-9288
Listed By:
Sean Clark
(978) 764-9288
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 20 at 9:45AM
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 Sean Clark
Investment Insights
Based on property information with market context.
Located in Wilmington, this commercial building presents an opportunity for an owner-user or investor. Formerly a dental office, the property is situated on a corner lot at Main and Clark Streets, providing visibility and signage along a corridor with approximately 20,000 vehicles per day. Constructed in 1839 and fully modernized, the 1,716 square foot interior includes updated electrical and mechanical systems, basement storage, and parking for over 10 vehicles. The first floor features a reception area, waiting room, lab, half bathroom, and four to six exam or treatment rooms, all equipped with plumbing. The second floor offers additional office space, a full bathroom, storage, and mechanical upgrades.
Key Highlights
- High‑visibility corner lot location on Main and Clark Streets with approximately 20,000 vehicles per day.
- Ample off‑street parking for 10+ vehicles.
- Fully modernized 1,716 SF building with updated electrical and mechanical systems.
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
$54,449
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
7.51%
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%
$1,088,980
$1.1M
Cap Rate 7%
$777,843
$777.8K
Cap Rate 9%
$604,989
$605.0K
Market Conditions
NOI Build-Up for 1,716 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
$93.1K $54.24/SF
− Vacancy
−$20.5K −$11.93/SF
EGI
$72.6K $42.31/SF
− OpEx
−$18.1K −$10.58/SF
NOI
$54.4K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /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%
$1,088,980
Cap Rate 7%
$777,843
Cap Rate 9%
$604,989
Alternative Uses
Best Use
Office B
$777.8K
$680.6K – $907.5K
NOI $54,449 @ 7.0% cap · market cap 7.51%
Second Best
Healthcare Medical
$711.6K
$622.6K – $830.2K
NOI $49,810 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$1.02M
$888.9K – $1.19M
NOI $71,111 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01887, MA
23,349
Population
8,032
Households
2.9
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
17.0 sq mi
ZIP Area
1,373
Density / Sq Mi
$161,473
Median Household Income
$73,770
Median Earnings
$2,412
Median Rent
$646,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Boston Dog Company — 555 Main St, Wilmington, MA 01887
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- Wilmington Veterinary Hospital: Kim James J DVM — 11 Burlington Ave, Wilmington, MA 01887
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained commercial building with modernized systems and ample parking.
Where is this medical office space located?
The property is located at 306 Main St Wilmington, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: High‑visibility corner lot location on Main and Clark Streets with approximately 20,000 vehicles per day.; Ample off‑street parking for 10+ vehicles.; Fully modernized 1,716 SF building with updated electrical and mechanical systems.
