Renovated Private Office
For Sale
Contact for pricing
51 Mill Street Unit 8, Hanover, MA 02339
Business condominium setting with shared reception, break room, storage, Wi-Fi, utilities, and parking.
Property Size171 SF
Price / SF$4.24
Days on Market95
Property Features for 51 Mill Street Unit 8
General Information
Standard status
Active
Size
171 SF
Property subtype
Commercial
Amenities
welcome reception area
shared break room
free wifi
storage
Building Details
Year Built
1989
Listing Agency:
Trufant Real Estate
(781) 878-2478
Listed By:
Butch Wilson · License #450000069
(781) 910-1826
Source:
Lockandkeyre
Added: Jul 17
Changed: Oct 16
Last Checked: Oct 16 at 8:58AM
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 Trufant Real Estate
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Investment Insights
Based on property information with market context.
This private office is located within a well-maintained business condominium unit at Mill Pond Office Park. The available workspace is part of a renovated suite with a welcoming reception area, shared break room, storage, Wi-Fi, and utilities. The property was built in 1989 and includes parking for guests and employees.
The office park is located at 51 Mill Street, Unit 8, in Hanover, across from Hanover Crossings and adjacent to the South Shore YMCA. Route 3 is minutes away, with retail, restaurants, and other amenities nearby.
The office park is located at 51 Mill Street, Unit 8, in Hanover, across from Hanover Crossings and adjacent to the South Shore YMCA. Route 3 is minutes away, with retail, restaurants, and other amenities nearby.
Key Highlights
- Private office within a renovated business condominium unit
- Shared reception area and break room
- Wi‑Fi, utilities, and storage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,577
Suggested Prices Based on Cap Rates
Cap Rate 5%
$71,540
$71.5K
Cap Rate 7%
$51,100
$51.1K
Cap Rate 9%
$39,744
$39.7K
Market Conditions
NOI Build-Up for 171 SF
Gross rent
$5.7K $33.60/SF
− Vacancy
−$977 −$5.71/SF
EGI
$4.8K $27.89/SF
− OpEx
−$1.2K −$6.97/SF
NOI
$3.6K $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%
$71,540
Cap Rate 7%
$51,100
Cap Rate 9%
$39,744
Alternative Uses
Best Use
Office B
$51.1K
$44.7K – $59.6K
NOI $3,577 @ 7.0% cap · market cap 493.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$101.2K
$88.6K – $118.1K
NOI $7,086 @ 7.0% cap · market cap 977.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Business condominium setting with shared reception, break room, storage, Wi-Fi, utilities, and parking.
Where is this office unit located?
The property is located at 51 Mill Street Unit 8 Hanover, MA.
What are key features of this property?
This property features: Private office within a renovated business condominium unit; Shared reception area and break room; Wi‑Fi, utilities, and storage included
