Building Details

Year Built 1987

Buildings 1

Stories 2

Tenancy Multi

Listing Agency: Cape Landing Real Estate

Listed By: Gary Asack Show Phone

Source: Lyvrealty

Added: Sep 8 Changed: Oct 6 Last Checked: Oct 7 at 2:44PM

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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 Cape Landing Real Estate

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Investment Insights

Based on property information with market context.

Built in 1987, this two-story mixed-use property contains 1,821 square feet arranged as a commercial duplex with two units. The first floor provides more than 1,000 square feet of open commercial space, while the upper level offers more than 700 square feet with its own entrance. The configuration supports distinct uses within the building while maintaining separate access between levels.

The property fronts busy Route 28 and is located 1.1 miles from the Middleboro T Station. Site improvements include an LED sign rebuilt in 2022, a fully re-shingled roof completed in October 2018, and a septic system installed in September 2019. GU zoning is in place.

Key Highlights

• 1,821‑square‑foot two‑story commercial duplex with two units
• First floor includes more than 1,000 square feet of open commercial space
• Upper level offers more than 700 square feet with a separate entrance

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,591

Cap Rate

5.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$351,820 $351.8K

Cap Rate 7%

$251,300 $251.3K

Cap Rate 9%

$195,456 $195.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,821 SF

Gross rent

$30.6K $16.80/SF

− Vacancy

−$2.4K −$1.34/SF

EGI

$28.1K $15.46/SF

− OpEx

−$10.6K −$5.80/SF

NOI

$17.6K $9.66/SF

Area

Plymouth County, MA

Vacancy

8.00%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$351,820

Cap Rate 7%

$251,300

Cap Rate 9%

$195,456

Alternative Uses

Best Use

Retail

$427.4K

$374.0K – $498.7K (±1% cap)

NOI $29,920 @ 7.0% cap · market cap 9.21%

Second Best

Mixed Use

$251.3K

$219.9K – $293.2K (±1% cap)

NOI $17,591 @ 7.0% cap · market cap 5.41%

Theoretical Best

Office A

$1.08M

$943.3K – $1.26M (±1% cap)

NOI $75,462 @ 7.0% cap · market cap 23.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Grocery & Convenience Store Bakery (Bike/Boat/Book/etc) Store Catering Service Computer & Electronic Repair Electrical Service

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

18

Businesses Nearby

Explore this area Business Placement

Demographics for 02346, MA

24,245

Population

10,230

Households

2.4

Avg Household Size

44

Median Age

30%

College-Educated

94%

High-School Grad

69.0 sq mi

ZIP Area

351

Density / Sq Mi

$91,914

Median Household Income

$52,710

Median Earnings

$1,692

Median Rent

$426,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - GU-zoned commercial space features separate upper-level access and a rebuilt LED sign.

Where is this mixed-use property located?

The property is located at 347 W Grove St A Middleboro, MA.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 1,821‑square‑foot two‑story commercial duplex with two units; First floor includes more than 1,000 square feet of open commercial space; Upper level offers more than 700 square feet with a separate entrance