Mixed-Use Property with
For Sale
$1,450,000
476-478 Walpole Street, Norwood, MA 02062
Two-building offering combines residential units, office space, warehouse areas, and dedicated storage under Mixed Use zoning.
Property Size4,000 SF
Price / SF$362.50
Days on Market1306
Property Features for 476-478 Walpole Street
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
16
Property subtype
Multi-family / 4 Family
Zoning
Mixed Use
Net Operating Income
$82,800
Taxes and HOA fees
Annual Taxes
$7,701
Amenities
City/Town Sewer, Public, Circuit Breakers
No
Gas Water Heater
7.0
Laundry Room
Full
5
2
6.00
7
See Remarks
Asphalt/Composition Shingles, Other
Building Details
Year Built
1910
Listing Agency:
Forbes Real Estate, LLC
Listed By:
Ally Forbes · License #9529344
(617) 763-4476
Source:
Compass
Added: Mar 21, 2023
Changed: Oct 13
Last Checked: Oct 15 at 2:05AM
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 Forbes Real Estate, 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 mixed-use property includes a residential building with four apartments: three two-bedroom units and one one-bedroom unit. The residential component also offers a finished basement office with a bathroom, coin-operated laundry, and a newer roof over a frame structure. Units are deleaded and currently occupied under tenancy-at-will arrangements with 60 days’ notice.
The second building provides approximately 4,800 square feet of commercial space with two large office or warehouse areas, two half-baths, a kitchenette, and a separate bonus storage unit with attic space. Originally constructed as a commercial bakery, the heavy-duty structure features poured concrete walls, steel trusses, floor drains, multiple heat zones, and three-phase power. The property is located at 476-478 Walpole Street in Norwood and is offered as-is.
The second building provides approximately 4,800 square feet of commercial space with two large office or warehouse areas, two half-baths, a kitchenette, and a separate bonus storage unit with attic space. Originally constructed as a commercial bakery, the heavy-duty structure features poured concrete walls, steel trusses, floor drains, multiple heat zones, and three-phase power. The property is located at 476-478 Walpole Street in Norwood and is offered as-is.
Key Highlights
- Four apartments: three 2BR units and one 1BR unit
- Approximately 4,800 SF commercial building with office and warehouse areas
- Poured concrete walls, steel trusses, floor drains, and 3‑phase power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,654
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,433,080
$1.4M
Cap Rate 7%
$1,023,629
$1.0M
Cap Rate 9%
$796,156
$796.2K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$108.0K $27.00/SF
− Vacancy
−$5.6K −$1.41/SF
EGI
$102.4K $25.59/SF
− OpEx
−$30.7K −$7.68/SF
NOI
$71.7K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,433,080
Cap Rate 7%
$1,023,629
Cap Rate 9%
$796,156
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$895.7K – $1.19M
NOI $71,654 @ 7.0% cap · market cap 4.94%
Second Best
Flex RnD
$980.6K
$858.0K – $1.14M
NOI $68,640 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,759 @ 7.0% cap · market cap 11.43%
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
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 02062, MA
31,611
Population
13,961
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
93%
High-School Grad
10.5 sq mi
ZIP Area
3,011
Density / Sq Mi
$97,110
Median Household Income
$60,434
Median Earnings
$2,056
Median Rent
$613,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building offering combines residential units, office space, warehouse areas, and dedicated storage under Mixed Use zoning.
Where is this mixed-use property located?
The property is located at 476-478 Walpole Street Norwood, MA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Four apartments: three 2BR units and one 1BR unit; Approximately 4,800 SF commercial building with office and warehouse areas; Poured concrete walls, steel trusses, floor drains, and 3‑phase power
