Furnished First-Floor Office
For Sale
$324,900
511 W Grove St, Middleboro, MA 02346
Commercial Sale, Middleboro, MA
Property Size1,446 SF
Price / SF$224.69
Days on Market116
Property Features for 511 W Grove St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GU
Zoning description
Legal Conforming
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
44 Rotary to W Grove St Middleboro
Standard status
Active
APN
M:00048 L:1298 U:0105,3553547
Size
1,446 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1569
HOA Fee
$816 Monthly
Amenities
waiting room
reception area
private offices
record storage room
private bathroom
break room
Building Details
Year built
1986
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(508) 695-4545
Added: May 11
Changed: Sep 3
Last Checked: Sep 3 at 10:06PM
MLS# 73516048
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,446-square-foot office condominium occupies the first floor and is being offered fully furnished. The layout includes a waiting area, reception zone, five private offices, a dedicated records storage room, one bathroom, and a break room. A street-level entrance supports convenient access for occupants and visitors.
Constructed in 1986, the property is designated GU and includes parking for staff and clients. The configuration is identified as suitable for medical, legal, and administrative professional use.
Constructed in 1986, the property is designated GU and includes parking for staff and clients. The configuration is identified as suitable for medical, legal, and administrative professional use.
Key Highlights
- 1,446‑square‑foot first‑floor office condominium
- Fully furnished office interior
- Five private offices with waiting and reception areas
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
$26,965
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
8.30%
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%
$539,300
$539.3K
Cap Rate 7%
$385,214
$385.2K
Cap Rate 9%
$299,611
$299.6K
Market Conditions
NOI Build-Up for 1,446 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
$48.6K $33.60/SF
− Vacancy
−$3.6K −$2.52/SF
EGI
$44.9K $31.08/SF
− OpEx
−$18.0K −$12.43/SF
NOI
$27.0K $18.65/SF
Area
Plymouth County, MA
Vacancy
7.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$539,300
Cap Rate 7%
$385,214
Cap Rate 9%
$299,611
Alternative Uses
Best Use
Office B
$432.1K
$378.1K – $504.1K
NOI $30,245 @ 7.0% cap · market cap 9.31%
Second Best
Healthcare Medical
$385.2K
$337.1K – $449.4K
NOI $26,965 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$856.0K
$749.0K – $998.7K
NOI $59,922 @ 7.0% cap · market cap 18.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 02346, MA
24,245
Population
10,230
Households
2.4
Avg Household Size
44
Median Age
30%
College-Educated
94%
High-School Grad
69.0 sq mi
ZIP Area
351
Density / Sq Mi
$91,914
Median Household Income
$52,710
Median Earnings
$1,692
Median Rent
$426,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Street-level suite includes private workrooms, reception, records storage, a break room, and on-site parking.
Where is this office units located?
The property is located at 511 W Grove St Middleboro, MA.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 1,446‑square‑foot first‑floor office condominium; Fully furnished office interior; Five private offices with waiting and reception areas
