Four-Office Condo
For Sale
Contact for pricing
51 Mill St. Unit 7, Hanover, MA 02339
Second-floor office condominium with a reception area, private restroom, attic storage, and on-site parking.
Property Size1,000 SF
Price / SF$1.60
Days on Market53
Property Features for 51 Mill St. Unit 7
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Additional Details
Floor
2
HOA Fee
$300
Highway Access
Yes
Amenities
reception/waiting room area
private bathroom
attic storage space
Building Details
Year Built
1997
Listing Agency:
William Raveis R.E. & Home Services
(781) 659-6650
Listed By:
Roe Sheppard
(781) 264-0856
Source:
Lockandkeyre
Added: Sep 8
Changed: Oct 29
Last Checked: Oct 28 at 7:23AM
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
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Investment Insights
Based on property information with market context.
This second-floor office condominium at 51 Mill St., Unit 7, offers 1,000 square feet arranged with four private offices, a reception and waiting area, a private bathroom, and attic storage. The interior has been freshly painted, providing a clean setting for an owner-user or shared professional office arrangement. Built in 1997, the unit includes access to on-site parking.
The property is located near Route 53 and offers convenient access to Route 3. The Hanover YMCA is within walking distance. The property’s location and flexible office layout support use by a single company or multiple professionals sharing the space.
The property is located near Route 53 and offers convenient access to Route 3. The Hanover YMCA is within walking distance. The property’s location and flexible office layout support use by a single company or multiple professionals sharing the space.
Key Highlights
- 1,000 SF second‑floor office condominium
- Four separate offices with reception and waiting area
- Private bathroom and attic storage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,916
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,320
$418.3K
Cap Rate 7%
$298,800
$298.8K
Cap Rate 9%
$232,400
$232.4K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$33.6K $33.60/SF
− Vacancy
−$5.7K −$5.71/SF
EGI
$27.9K $27.89/SF
− OpEx
−$7.0K −$6.97/SF
NOI
$20.9K $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 Rate 5%
$418,320
Cap Rate 7%
$298,800
Cap Rate 9%
$232,400
Alternative Uses
Best Use
Office B
$298.8K
$261.5K – $348.6K
NOI $20,916 @ 7.0% cap · market cap 1,307.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$592.0K
$518.0K – $690.7K
NOI $41,440 @ 7.0% cap · market cap 2,590.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 02339, MA
14,833
Population
4,974
Households
3
Avg Household Size
42
Median Age
57%
College-Educated
96%
High-School Grad
15.5 sq mi
ZIP Area
957
Density / Sq Mi
$174,821
Median Household Income
$69,688
Median Earnings
$1,642
Median Rent
$706,200
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Second-floor office condominium with a reception area, private restroom, attic storage, and on-site parking.
Where is this office unit located?
The property is located at 51 Mill St. Unit 7 Hanover, MA.
What are key features of this property?
This property features: 1,000 SF second‑floor office condominium; Four separate offices with reception and waiting area; Private bathroom and attic storage included
