Second-Floor Office Condo
For Sale
$165,000
475 School St, Marshfield, MA 02050
Well-maintained office condo with private offices, reception, and conference room plus ample on-site parking.
Property Size684 SF
Price / SF$241.23
Days on Market59
Property Features for 475 School St
General Information
Standard status
Active
Size
684 SF
Taxes and HOA fees
Annual Taxes
$1,592
Listing Agency:
Ellis Realty Advisors
(781) 563-0237
Listed By:
Kerrick Pierce · License #9571567
(781) 563-0237
Source:
Exprealty
Added: Jun 23
Changed: Aug 20
Last Checked: Aug 20 at 12:18PM
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 Ellis Realty Advisors
Investment Insights
Based on property information with market context.
This well-maintained office complex includes a second-floor office condo offering approximately 684 square feet. The suite is configured with several private offices, a bullpen area, a reception area, and a conference room. It also includes an exclusive restroom for the unit. The property notes a new roof installed in 2024 and is described as professionally managed, with low condominium fees.
The location provides convenient access to Route 3 and includes excellent visibility along Route 139. The offering includes ample on-site parking and a manageable footprint within the office complex. The property is also described as being near retail and local amenities.
The layout and amenities support small professional uses such as therapy, legal, counseling, and accounting, with room to meet clients and collaborate internally. For owner-occupiers, the suite presents a turnkey environment, while investors may find the condo structure and low fees relevant for long-term ownership. The listing also mentions the possibility to expand into an adjacent unit for an additional approximately 684 square feet, which may appeal to tenants or owners seeking more space without leaving the complex.
The location provides convenient access to Route 3 and includes excellent visibility along Route 139. The offering includes ample on-site parking and a manageable footprint within the office complex. The property is also described as being near retail and local amenities.
The layout and amenities support small professional uses such as therapy, legal, counseling, and accounting, with room to meet clients and collaborate internally. For owner-occupiers, the suite presents a turnkey environment, while investors may find the condo structure and low fees relevant for long-term ownership. The listing also mentions the possibility to expand into an adjacent unit for an additional approximately 684 square feet, which may appeal to tenants or owners seeking more space without leaving the complex.
Key Highlights
- Second‑floor office condo with 684 SF of professional office space
- Multiple private offices plus bullpen area, reception, and a conference room
- Exclusive restroom for the condo
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
$14,307
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
8.67%
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%
$286,140
$286.1K
Cap Rate 7%
$204,386
$204.4K
Cap Rate 9%
$158,967
$159.0K
Market Conditions
NOI Build-Up for 684 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
$23.0K $33.60/SF
− Vacancy
−$3.9K −$5.71/SF
EGI
$19.1K $27.89/SF
− OpEx
−$4.8K −$6.97/SF
NOI
$14.3K $20.92/SF
Area
Plymouth County, MA
Vacancy
17.00%
Lease Rate
$33.60 /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%
$286,140
Cap Rate 7%
$204,386
Cap Rate 9%
$158,967
Alternative Uses
Best Use
Office B
$204.4K
$178.8K – $238.5K
NOI $14,307 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.9K
$354.3K – $472.4K
NOI $28,345 @ 7.0% cap · market cap 17.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 02050, MA
25,956
Population
11,697
Households
2.2
Avg Household Size
48
Median Age
53%
College-Educated
97%
High-School Grad
28.8 sq mi
ZIP Area
901
Density / Sq Mi
$125,436
Median Household Income
$63,529
Median Earnings
$1,620
Median Rent
$622,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office condo with private offices, reception, and conference room plus ample on-site parking.
Where is this office units located?
The property is located at 475 School St Marshfield, MA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Second‑floor office condo with 684 SF of professional office space; Multiple private offices plus bullpen area, reception, and a conference room; Exclusive restroom for the condo
