Tenant-Occupied Storefront
New
For Sale
$380,000
51 Court St #C, Plymouth, MA 02360
Two-level layout includes retail space, basement office and storage, a commercial baking kitchen, and separate restrooms.
Property Size1,613 SF
Price / SF$235.59
Days on Market5
Property Features for 51 Court St #C
General Information
Standard status
Active
Size
1,613 SF
Zoning
DH
Additional Details
Floor
Ground, Lower Level
Corner Location
No
Liquor License
No
Taxes and HOA fees
Annual Taxes
$3,677
Amenities
commercial baking kitchen
restrooms
Building Details
Year Built
1900
Tenancy
Single
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
Rebecca R Huang
(617) 479-6666
Source:
413realestate
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 7:51AM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This storefront condominium contains 1,613 usable SF arranged across two levels. The first floor provides 1,300 SF of retail area, while the finished basement adds 313 SF designated for office and storage use. The property also includes a small commercial baking kitchen, two restrooms serving patrons and employees separately, and recent cosmetic improvements.
Located in downtown Plymouth, the property is currently occupied by a tenant under a lease scheduled to end in December 2029. The offering consists of the real estate rather than the operating business. Built in 1900, the unit is identified under DH zoning and is located at 51 Court St, #C.
Located in downtown Plymouth, the property is currently occupied by a tenant under a lease scheduled to end in December 2029. The offering consists of the real estate rather than the operating business. Built in 1900, the unit is identified under DH zoning and is located at 51 Court St, #C.
Key Highlights
- 1,613 usable SF across retail, office, and storage areas
- 1,300 SF of first‑floor retail space
- Finished basement provides 313 SF of office and storage
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
$26,502
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
6.97%
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%
$530,040
$530.0K
Cap Rate 7%
$378,600
$378.6K
Cap Rate 9%
$294,467
$294.5K
Market Conditions
NOI Build-Up for 1,613 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
$38.7K $24.00/SF
− Vacancy
−$852 −$0.53/SF
EGI
$37.9K $23.47/SF
− OpEx
−$11.4K −$7.04/SF
NOI
$26.5K $16.43/SF
Area
Plymouth County, MA
Vacancy
2.20%
Lease Rate
$24.00 /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%
$530,040
Cap Rate 7%
$378,600
Cap Rate 9%
$294,467
Alternative Uses
Best Use
Retail
$378.6K
$331.3K – $441.7K
NOI $26,502 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$954.9K
$835.5K – $1.11M
NOI $66,842 @ 7.0% cap · market cap 17.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,655
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Two-level layout includes retail space, basement office and storage, a commercial baking kitchen, and separate restrooms.
Where is this storefront property located?
The property is located at 51 Court St #C Plymouth, MA.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 1,613 usable SF across retail, office, and storage areas; 1,300 SF of first‑floor retail space; Finished basement provides 313 SF of office and storage
