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 Changed: Oct 25 Last Checked: Nov 1 at 3:10AM

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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 / Yr

$298,473

Cap Rate

6.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,969,460 $6.0M

Cap Rate 7%

$4,263,900 $4.3M

Cap Rate 9%

$3,316,367 $3.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 30,500 SF

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 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. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

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

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