Restaurant-Loaded NNN Shopping
For Sale
$2,550,000
461 Washington St Holliston, Holliston, MA 01746
NNN shopping plaza with seven units, including five long-term tenant leases and two vacant suites in separate buildings.
Property Size6,650 SF
Price / SF$383.46
Days on Market99
Property Features for 461 Washington St Holliston
General Information
Standard status
Active
Size
6,650 SF
Zoning
C
Lease Type
NNN
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,957
Building Details
Building Size
6,650 SF
Year Built
1999
Tenancy
Multi
Listing Agency:
(508) 501-1443
Listed By:
Jadaiya Stanley
(508) 501-1443
Source:
Milestonerealtyinc
Added: May 7
Changed: Aug 13
Last Checked: Aug 13 at 10:49AM
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 Jadaiya Stanley
Investment Insights
Based on property information with market context.
This NNN shopping plaza comprises seven units across three areas: a larger plaza with three units, two stand-alone buildings each housing one unit, and a smaller plaza with two additional units. Based on available information, five of the seven units have long-term tenants, and the property’s tenant occupancy is currently supported by multiple parking areas, including disabled parking spaces.
The property is located on Route 16 with access designed to serve all units. Public remarks indicate heavy foot and vehicular traffic along the route.
Current tenant mix is described as all three units in the larger plaza operating as restaurants, while the two-unit small plaza is vacant, offering immediate opportunity to reposition or lease available space.
The property is located on Route 16 with access designed to serve all units. Public remarks indicate heavy foot and vehicular traffic along the route.
Current tenant mix is described as all three units in the larger plaza operating as restaurants, while the two-unit small plaza is vacant, offering immediate opportunity to reposition or lease available space.
Key Highlights
- 1999‑built NNN shopping plaza with 7 units total
- 5 units have long‑term tenants providing consistent rental income
- NNN income structure across the property
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
$124,563
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
4.88%
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%
$2,491,260
$2.5M
Cap Rate 7%
$1,779,471
$1.8M
Cap Rate 9%
$1,384,033
$1.4M
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
$179.6K $27.00/SF
− Vacancy
−$13.5K −$2.03/SF
EGI
$166.1K $24.98/SF
− OpEx
−$41.5K −$6.24/SF
NOI
$124.6K $18.73/SF
Area
Middlesex County, MA
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,491,260
Cap Rate 7%
$1,779,471
Cap Rate 9%
$1,384,033
Alternative Uses
Best Use
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,563 @ 7.0% cap · market cap 4.88%
Second Best
Retail
$1.37M
$1.19M – $1.59M
NOI $95,579 @ 7.0% cap · market cap 3.75%
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
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Shopping center - NNN shopping plaza with seven units, including five long-term tenant leases and two vacant suites in separate buildings.
Where is this shopping center located?
The property is located at 461 Washington St Holliston 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: 1999‑built NNN shopping plaza with 7 units total; 5 units have long‑term tenants providing consistent rental income; NNN income structure across the property
