331 Main St, Fairhaven, MA 02719

Building Details

Building Size 1,940 SF More

Year Built 1940 More

Listing Agency: RE/MAX Vantage Show Phone

Listed By: Derek Tiago Show Phone

Source: Iverty

Added: Nov 10 Changed: Nov 12 Last Checked: Nov 12 at 2:19PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,518-square-foot office building in Fairhaven was built in 1940 and has been renovated. Its layout was used as two separate offices, with mini-split systems for heating and cooling and basement space for storage. Parking accommodates approximately 10 vehicles. The property is offered as-is.

The building is minutes from I-195. A potential conversion to a two-family residence with four bedrooms, two per unit, is subject to applicable approvals and permitting. Zoning, permitted uses, conversion requirements, and utilities require buyer due diligence.

Key Highlights

• 1,518 square feet; built in 1940
• Previously used as two separate offices
• Mini‑split heating and cooling systems

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,951

Cap Rate

4.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$499,020 $499.0K

Cap Rate 7%

$356,443 $356.4K

Cap Rate 9%

$277,233 $277.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,518 SF

Gross rent

$41.5K $27.36/SF

− Vacancy

−$8.3K −$5.44/SF

EGI

$33.3K $21.92/SF

− OpEx

−$8.3K −$5.48/SF

NOI

$25.0K $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 Rate 5%

$499,020

Cap Rate 7%

$356,443

Cap Rate 9%

$277,233

Alternative Uses

Best Use

Office B

$356.4K

$311.9K – $415.9K (±1% cap)

NOI $24,951 @ 7.0% cap · market cap 4.99%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$924.4K

$808.9K – $1.08M (±1% cap)

NOI $64,711 @ 7.0% cap · market cap 12.94%

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

Office buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Gym & Fitness Center HVAC Service Computer & Electronic Repair Garden 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

Highway access

Location Intelligence

Trade Area within ½ mile

155

Businesses Nearby

Explore this area Business Placement

Demographics for 02719, MA

15,924

Population

7,777

Households

2

Avg Household Size

49

Median Age

30%

College-Educated

92%

High-School Grad

12.4 sq mi

ZIP Area

1,284

Density / Sq Mi

$92,500

Median Household Income

$57,781

Median Earnings

$1,071

Median Rent

$407,300

Median Home Value

Market

Average Price Trend$/SF for Office buildings in Bristol County, MA

$151 Jul

$171 Aug

$181 Sep

$174 Oct

Properties on Market for Office buildings in Bristol County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Renovated interior, mini-split heating and cooling, and on-site parking serve a professional office use.

Where is this office building located?

The property is located at 331 Main St Fairhaven, MA.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: 1,518 square feet; built in 1940; Previously used as two separate offices; Mini‑split heating and cooling systems