Industrial/Retail Flex Space
For Sale
Contact for pricing
700 Pulaski Blvd, Bellingham, MA 02019
1,320 SF flex space with three drive-in bays.
Property Size1,320 SF
Price / SF$397.73
Days on Market99
Property Features for 700 Pulaski Blvd
General Information
Standard status
Active
Size
1,320 SF
Property subtype
INDUSTRIAL
Listing Agency:
NAI | Parsons Commercial Group - Boston
(978) 505-0181
Listed By:
Jake Parsons · License #9072963
(978) 505-0181
Source:
Moodyscre
Added: May 21
Changed: Aug 8
Last Checked: Aug 26 at 2:28PM
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 NAI | Parsons Commercial Group - Boston
Investment Insights
Based on property information with market context.
Located on Pulaski Boulevard in Bellingham, Massachusetts, this 1,320 SF industrial/retail flex property is an owner-user opportunity. The property features three drive-in bays and ample on-site parking. Recent capital improvements include a new roof, updated electrical, and heating system. Situated on a high-visibility commercial corridor, the property provides convenient access to I-495. It is suited for a variety of industrial, showroom, storage, or service-oriented uses, excluding automotive. The location offers easy access to major transportation routes, including Interstate 495, and is within close proximity to industrial, manufacturing, and retail hubs throughout the region. The property provides strong visibility and convenient connectivity to neighboring markets including Franklin, Milford, and the greater MetroWest area, making it an ideal location for businesses seeking accessibility, exposure, and operational efficiency.
Key Highlights
- Ideal owner‑user opportunity for industrial/retail flex space.
- Convenient access to I‑495 and strong visibility on Pulaski Boulevard/Route 126.
- Recent capital improvements include a new roof, updated electrical, and heating systems.
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
$22,651
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
4.31%
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%
$453,020
$453.0K
Cap Rate 7%
$323,586
$323.6K
Cap Rate 9%
$251,678
$251.7K
Market Conditions
NOI Build-Up for 1,320 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
$39.6K $30.00/SF
− Vacancy
−$4.8K −$3.60/SF
EGI
$34.8K $26.40/SF
− OpEx
−$12.2K −$9.24/SF
NOI
$22.7K $17.16/SF
Area
Norfolk County, MA
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
35.00%
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%
$453,020
Cap Rate 7%
$323,586
Cap Rate 9%
$251,678
Alternative Uses
Best Use
Flex RnD
$323.6K
$283.1K – $377.5K
NOI $22,651 @ 7.0% cap · market cap 4.31%
Second Best
Industrial
$200.6K
$175.5K – $234.0K
NOI $14,041 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$781.4K
$683.8K – $911.7K
NOI $54,700 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02019, MA
16,945
Population
6,555
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
18.3 sq mi
ZIP Area
926
Density / Sq Mi
$120,966
Median Household Income
$61,453
Median Earnings
$1,788
Median Rent
$425,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 1,320 SF flex space with three drive-in bays.
Where is this flex space located?
The property is located at 700 Pulaski Blvd Bellingham, MA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Ideal owner‑user opportunity for industrial/retail flex space.; Convenient access to I‑495 and strong visibility on Pulaski Boulevard/Route 126.; Recent capital improvements include a new roof, updated electrical, and heating systems.
