Building Details

Building Size 30,500 SF

Year Built 2018

Listing Agency: MG Commercial

Listed By: George Paskalis, SIOR · License #RI #0040525 Show Phone

Source: Mgcommercial

Added: Sep 22 Last Checked: Sep 26 at 5:28AM

Report an Issue

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 MG Commercial

Investment Insights

Based on property information with market context.

This former cannabis cultivation property includes a freestanding metal building designed for cultivation operations, along with office areas, one overhead door, and an on-site parking lot. The facility was completed in 2018 and includes six attached greenhouse structures measuring 110 feet wide by 185 feet long.

The building contains approximately 30,500 SF and occupies a 4.37-acre parcel at 7 Campanelli Drive in Assonet, Massachusetts. The property is within an industrial park development and offers convenient highway access. On-site parking supports the facility, while the combination of enclosed industrial space and attached greenhouse structures provides a distinctive commercial configuration.

Key Highlights

• 30,500 SF +/- freestanding metal industrial building
• Six attached greenhouse structures, each 110' wide x 185' long
• 4.37‑acre parcel at 7 Campanelli Drive

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

$298,473

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

6.42%

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%

$5,969,460 $6.0M

Cap Rate 7%

$4,263,900 $4.3M

Cap Rate 9%

$3,316,367 $3.3M

Market Conditions

NOI Build-Up for 30,500 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

$457.5K $15.00/SF

− Vacancy

−$31.1K −$1.02/SF

EGI

$426.4K $13.98/SF

− OpEx

−$127.9K −$4.19/SF

NOI

$298.5K $9.79/SF

Area

Bristol County, MA

Vacancy

6.80%

Lease Rate

$15.00 /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%

$5,969,460

Cap Rate 7%

$4,263,900

Cap Rate 9%

$3,316,367

Alternative Uses

Best Use

Industrial

$4.26M

$3.73M – $4.97M (±1% cap)

NOI $298,473 @ 7.0% cap · market cap 6.42%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$18.57M

$16.25M – $21.67M (±1% cap)

NOI $1,300,178 @ 7.0% cap · market cap 27.96%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Cannabis Properties

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 02702, MA

4,267

Population

1,615

Households

2.6

Avg Household Size

44

Median Age

46%

College-Educated

95%

High-School Grad

16.8 sq mi

ZIP Area

254

Density / Sq Mi

$145,324

Median Household Income

$64,590

Median Earnings

$1,674

Median Rent

$479,000

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this cannabis properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Cannabis property - Freestanding metal building with office areas, an overhead door, dedicated parking, and attached greenhouse structures.

Where is this cannabis property located?

The property is located at 7 Campanelli Drive Assonet, MA.

What is the asking price?

The asking price for this property is $4,650,000.

What are key features of this property?

This property features: 30,500 SF +/- freestanding metal industrial building; Six attached greenhouse structures, each 110' wide x 185' long; 4.37‑acre parcel at 7 Campanelli Drive