Two-Story Mixed-Use
New
For Sale
$325,000
347 W Grove St A, Middleboro, MA 02346
GU-zoned commercial space features separate upper-level access and a rebuilt LED sign.
Property Size1,821 SF
Price / SF$178.47
Days on Market2
Property Features for 347 W Grove St A
General Information
Standard status
Active
Size
1,821 SF
Zoning
GU
Building Details
Year Built
1987
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Cape Landing Real Estate
Listed By:
Gary Asack
(508) 208-1159
Source:
Lyvrealty
Added: Sep 8
Last Checked: Sep 8 at 2:38PM
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
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.
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 = 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
$17,591
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
5.41%
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%
$351,820
$351.8K
Cap Rate 7%
$251,300
$251.3K
Cap Rate 9%
$195,456
$195.5K
Market Conditions
NOI Build-Up for 1,821 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
$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 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%
$351,820
Cap Rate 7%
$251,300
Cap Rate 9%
$195,456
Alternative Uses
Best Use
Retail
$427.4K
$374.0K – $498.7K
NOI $29,920 @ 7.0% cap · market cap 9.21%
Second Best
Mixed Use
$251.3K
$219.9K – $293.2K
NOI $17,591 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.08M
$943.3K – $1.26M
NOI $75,462 @ 7.0% cap · market cap 23.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
