Multifunctional Commercial Buildings
For Sale
$1,199,800
3091-3095 Cranberry Hwy, Wareham, MA 02538
Two commercial buildings with office, warehouse, and showroom spaces.
Property Size6,960 SF
Days on Market153
Property Features for 3091-3095 Cranberry Hwy
General Information
Standard status
Active
Size
6,960 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,229
Building Details
Building Size
6,960 SF
Year Built
1963
Listing Agency:
Conway - Wareham
(774) 263-8989
Listed By:
Francis Gropman · License #9506689
(774) 263-8989
Source:
Elliman
Added: Apr 1
Changed: Aug 28
Last Checked: Aug 31 at 12:46PM
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 Conway - Wareham
Investment Insights
Based on property information with market context.
This commercial package features two free-standing, multifunctional buildings suitable for office and warehouse use. One building includes a commercial mezzanine for additional storage and vertical space utilization, along with phase 3 electric. A new roof is planned for 2025. The second building offers a showroom, office space, a conference room, and a warehouse/shop area. The property benefits from a traffic count of over 27,000 vehicles along Cranberry Highway.
Key Highlights
- Two free‑standing commercial buildings with office and warehouse spaces.
- High traffic count (27,000+) on Cranberry Hwy.
- One building features a commercial mezzanine for extra storage.
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
$74,033
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
6.17%
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%
$1,480,660
$1.5M
Cap Rate 7%
$1,057,614
$1.1M
Cap Rate 9%
$822,589
$822.6K
Market Conditions
NOI Build-Up for 6,960 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
$111.9K $16.08/SF
− Vacancy
−$6.2K −$0.88/SF
EGI
$105.8K $15.20/SF
− OpEx
−$31.7K −$4.56/SF
NOI
$74.0K $10.64/SF
Area
Plymouth 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 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%
$1,480,660
Cap Rate 7%
$1,057,614
Cap Rate 9%
$822,589
Alternative Uses
Best Use
Flex RnD
$1.84M
$1.61M – $2.15M
NOI $128,934 @ 7.0% cap · market cap 10.75%
Second Best
Industrial
$1.06M
$925.4K – $1.23M
NOI $74,033 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$4.12M
$3.61M – $4.81M
NOI $288,421 @ 7.0% cap · market cap 24.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02538, MA
4,428
Population
1,825
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
703
Density / Sq Mi
$110,882
Median Household Income
$52,429
Median Earnings
$1,548
Median Rent
$347,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ADOBO REPUBLIC — 3150 Cranberry Hwy, Wareham, MA 02538
Frequently Asked Questions
What type of property is this?
Flex space - Two commercial buildings with office, warehouse, and showroom spaces.
Where is this flex space located?
The property is located at 3091-3095 Cranberry Hwy Wareham, MA.
What is the asking price?
The asking price for this property is $1,199,800.
What are key features of this property?
This property features: Two free‑standing commercial buildings with office and warehouse spaces.; High traffic count (27,000+) on Cranberry Hwy.; One building features a commercial mezzanine for extra storage.
