Established Shopping Plaza For
For Sale
$2,550,000
461 Washington St, Holliston, MA 01746
Shopping plaza with long-term tenants and value-add potential.
Property Size6,650 SF
Lot Size0.55 Acres
Days on Market265
Property Features for 461 Washington St
General Information
Standard status
Active
Size
6,650 SF
Lot size
0.55 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,957
Building Details
Building Size
6,650 SF
Year Built
1999
Listing Agency:
(508) 944-1779
Listed By:
Beatriz Gomez
(508) 944-1779
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 20 at 9:09AM
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 Beatriz Gomez
Investment Insights
Based on property information with market context.
This established shopping plaza is located on Route 16, benefiting from significant foot and vehicle traffic. The property features seven units, five of which are occupied by long-term tenants operating under NNN leases, providing a consistent rental income stream. The property includes a large plaza housing three restaurant units, two stand-alone buildings each containing one unit, and a smaller plaza with two vacant units, offering immediate value-add potential. Various parking areas serve all units, including designated disabled parking spots. This property is suitable for a 1031 exchange or portfolio expansion.
Key Highlights
- High‑traffic location on Route 16.
- Consistent rental income from 5 long‑term NNN tenants.
- Ideal for 1031 exchange or portfolio expansion.
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
$95,579
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
3.75%
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%
$1,911,580
$1.9M
Cap Rate 7%
$1,365,414
$1.4M
Cap Rate 9%
$1,061,989
$1.1M
Market Conditions
NOI Build-Up for 6,650 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
$146.0K $21.96/SF
− Vacancy
−$9.5K −$1.43/SF
EGI
$136.5K $20.53/SF
− OpEx
−$41.0K −$6.16/SF
NOI
$95.6K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,911,580
Cap Rate 7%
$1,365,414
Cap Rate 9%
$1,061,989
Alternative Uses
Best Use
Retail
$1.37M
$1.19M – $1.59M
NOI $95,579 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.94M
$3.44M – $4.59M
NOI $275,574 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01746, MA
14,996
Population
5,774
Households
2.6
Avg Household Size
43
Median Age
66%
College-Educated
96%
High-School Grad
18.7 sq mi
ZIP Area
802
Density / Sq Mi
$154,684
Median Household Income
$75,457
Median Earnings
$1,651
Median Rent
$620,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Shopping center - Shopping plaza with long-term tenants and value-add potential.
Where is this shopping center located?
The property is located at 461 Washington St Holliston, MA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: High‑traffic location on Route 16.; Consistent rental income from 5 long‑term NNN tenants.; Ideal for 1031 exchange or portfolio expansion.
