Medical Office Investment
For Sale
Contact for pricing
312 Bedford St, Whitman, MA 02382
Single-tenant medical office building fully occupied by BMC Health System.
Property Size15,648 SF
Lot Size1.76 Acres
Price / SF$338.70
Days on Market142
Property Features for 312 Bedford St
General Information
Standard status
Active
Size
15,648 SF
Class
B
Lot size
1.76 Acres
Property subtype
Office
Occupancy
100%
Lease Type
NN
Investment Type
Stabilized
Net Operating Income
$396,676
Building Details
Year Built
1970
Buildings
2
Stories
2
Listing Agency:
Marcus & Millichap - Chicago Downtown
(312) 787-0666
Listed By:
Frank Roti · License #IL 475.139806
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 11 at 1:45PM
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 Marcus & Millichap - Chicago Downtown
Investment Insights
Based on property information with market context.
The property at 312 Bedford Street, Whitman, MA, presents a fee-simple ownership opportunity. This single-tenant medical office property is fully occupied by BMC Health System, operating under a triple-net lease structure that includes 3% annual rental increases and one five-year renewal option. The lease has 6+ years remaining and is backed by a corporate guarantee. Boston Medical Center (BMC) Health System operates this primary care outpatient clinic, providing comprehensive primary care and internal medicine services focused on preventive care, chronic disease management, and routine medical treatment for adult patients. This location serves as a community-based healthcare access point for residents of Whitman and surrounding South Shore communities, offering coordinated care in a convenient neighborhood setting. Boston Medical Center Health System is an academic, nonprofit healthcare network anchored by Boston Medical Center, a 500+ bed teaching hospital affiliated with Boston University. The Whitman facility is part of BMC’s expanding regional network of community medical offices that provide primary care services while connecting patients to the broader resources of the Boston Medical Center Health System, including specialty care, advanced diagnostics, and hospital services across the region. The property is situated on a 1.76-acre lot with a building footprint of 15,648 square feet. It has visibility along Bedford Street, where traffic counts reach 18,227 vehicles per day, and offers ample parking with convenient access. The location benefits from strong area traffic, positioned across from high-traffic retailers such as McDonald’s, Dunkin’, and CVS. The site is also located on MA Route 18, the primary commercial corridor, providing direct access to Bridgewater to the south. This well-maintained property is a prime location with excellent frontage in a thriving commercial area.
Key Highlights
- Fully occupied by BMC Health System under a triple‑net lease with 6+ years remaining and a corporate guarantee.
- 3% annual rental increases provide an attractive hedge against inflation.
- Strategic location on Bedford Street (18,227 VPD) and MA Route 18, a primary commercial corridor, offering excellent visibility.
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
$327,294
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
6.18%
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%
$6,545,880
$6.5M
Cap Rate 7%
$4,675,629
$4.7M
Cap Rate 9%
$3,636,600
$3.6M
Market Conditions
NOI Build-Up for 15,648 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
$525.8K $33.60/SF
− Vacancy
−$89.4K −$5.71/SF
EGI
$436.4K $27.89/SF
− OpEx
−$109.1K −$6.97/SF
NOI
$327.3K $20.92/SF
Area
Plymouth County, MA
Vacancy
17.00%
Lease Rate
$33.60 /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%
$6,545,880
Cap Rate 7%
$4,675,629
Cap Rate 9%
$3,636,600
Alternative Uses
Best Use
Office B
$4.68M
$4.09M – $5.45M
NOI $327,294 @ 7.0% cap · market cap 6.18%
Second Best
Healthcare Medical
$4.17M
$3.65M – $4.86M
NOI $291,804 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$9.26M
$8.11M – $10.81M
NOI $648,449 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02382, MA
15,121
Population
6,031
Households
2.5
Avg Household Size
41
Median Age
29%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
2,191
Density / Sq Mi
$107,794
Median Household Income
$53,875
Median Earnings
$1,785
Median Rent
$456,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-tenant medical office building fully occupied by BMC Health System.
Where is this medical office space located?
The property is located at 312 Bedford St Whitman, MA.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: Fully occupied by BMC Health System under a triple‑net lease with 6+ years remaining and a corporate guarantee.; 3% annual rental increases provide an attractive hedge against inflation.; Strategic location on Bedford Street (18,227 VPD) and MA Route 18, a primary commercial corridor, offering excellent visibility.
