Six-Office Professional
For Sale
Contact for pricing
385 Main St. Unit 2, Wakefield, MA 01880
Flexible office accommodation includes private rooms, a conference area, and windows facing Main Street and Albion Street.
Property Size2,400 SF
Price / SF$0.21
Days on Market50
Property Features for 385 Main St. Unit 2
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Building Details
Year Built
1960
Listing Agency:
GDP Real Estate Group, LLC
Listed By:
Gianni De Palma
(978) 804-4450
Source:
Lockandkeyre
Added: Aug 31
Changed: Oct 16
Last Checked: Oct 16 at 8:27AM
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 GDP Real Estate Group, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office property provides approximately 2,400 square feet arranged with six private offices and a large conference room. The conference area faces Main Street, while most offices have windows oriented toward Main Street and Albion Street. The layout can accommodate use as one full suite or as separate private offices, providing flexible configuration within the existing improvements.
Built in 1960, the property is positioned in Wakefield Center at 385 Main St. Restaurants, shops, and public transportation are located among the surrounding amenities. The address places the office space within the center's established commercial setting.
Built in 1960, the property is positioned in Wakefield Center at 385 Main St. Restaurants, shops, and public transportation are located among the surrounding amenities. The address places the office space within the center's established commercial setting.
Key Highlights
- Approximately 2,400 sq. ft. of office space
- Six private offices within the suite
- Large conference room overlooking Main Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,153
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,523,060
$1.5M
Cap Rate 7%
$1,087,900
$1.1M
Cap Rate 9%
$846,144
$846.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$130.2K $54.24/SF
− Vacancy
−$28.6K −$11.93/SF
EGI
$101.5K $42.31/SF
− OpEx
−$25.4K −$10.58/SF
NOI
$76.2K $31.73/SF
Area
Middlesex County, MA
Vacancy
22.00%
Lease Rate
$54.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,523,060
Cap Rate 7%
$1,087,900
Cap Rate 9%
$846,144
Alternative Uses
Best Use
Office B
$1.09M
$951.9K – $1.27M
NOI $76,153 @ 7.0% cap · market cap 15,230.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,455 @ 7.0% cap · market cap 19,891.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Flexible office accommodation includes private rooms, a conference area, and windows facing Main Street and Albion Street.
Where is this office units located?
The property is located at 385 Main St. Unit 2 Wakefield, MA.
What are key features of this property?
This property features: Approximately 2,400 sq. ft. of office space; Six private offices within the suite; Large conference room overlooking Main Street
