Building Details

Building Size 7,529 SF

Year Built 1870

Year Renovated 2023

Listing Agency: Northeast Private Client Group, LLC

Listed By: Tom Egbers · License #9585952 Show Phone

Source: Classifiedrealtygroup

Added: Jul 16 Changed: Oct 7 Last Checked: Oct 14 at 8:20PM

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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 Northeast Private Client Group, LLC

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Investment Insights

Based on property information with market context.

This mixed-use property includes a 7,529-square-foot building with 9 multifamily units and an additional 3,234 square feet of commercial space. Originally constructed in 1870, the property underwent renovation in 2023 and includes on-site management. The existing layout combines residential and commercial components within the same overall asset, providing distinct occupancy types for a range of operating requirements.

Zoned INS, the property also includes a rear carriage structure with town approvals for commercial use or conversion into 4 additional units. The address is 72 Main St in Wareham, Massachusetts. The approved alternatives for the carriage structure expand the property's documented use configuration without changing the existing building description.

Key Highlights

• 7,529 SF mixed‑use building with 9 multifamily units
• Additional 3,234 SF commercial space
• Renovated in 2023; original construction dates to 1870

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$117,272

Cap Rate

5.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,345,440 $2.3M

Cap Rate 7%

$1,675,314 $1.7M

Cap Rate 9%

$1,303,022 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,529 SF

Gross rent

$225.9K $30.00/SF

− Vacancy

−$12.6K −$1.68/SF

EGI

$213.2K $28.32/SF

− OpEx

−$95.9K −$12.74/SF

NOI

$117.3K $15.58/SF

Area

Plymouth County, MA

Vacancy

5.60%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,345,440

Cap Rate 7%

$1,675,314

Cap Rate 9%

$1,303,022

Alternative Uses

Best Use

Apartment 5plus

$1.68M

$1.47M – $1.95M (±1% cap)

NOI $117,272 @ 7.0% cap · market cap 5.86%

Second Best

Mixed Use

$1.04M

$909.1K – $1.21M (±1% cap)

NOI $72,730 @ 7.0% cap · market cap 3.64%

Theoretical Best

Office A

$4.46M

$3.90M – $5.20M (±1% cap)

NOI $312,000 @ 7.0% cap · market cap 15.60%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Ruel Insurance Insurance Agency

Suggested Use

Top Pick Building Supply Real Estate Agency Big Box & Wholesale Store Auto Repair Shop HVAC Service Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

9

Residential units

Location Intelligence

Trade Area within ½ mile

464

Businesses Nearby

Explore this area Business Placement

Demographics for 02571, MA

10,858

Population

6,205

Households

1.7

Avg Household Size

51

Median Age

32%

College-Educated

90%

High-School Grad

18.7 sq mi

ZIP Area

581

Density / Sq Mi

$87,302

Median Household Income

$56,282

Median Earnings

$1,427

Median Rent

$422,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Historic mixed-use asset combines multifamily residences with dedicated commercial space and an approved rear carriage structure.

Where is this mixed-use property located?

The property is located at 72 Main St Wareham, MA.

What is the asking price?

The asking price for this property is $2,000,000.

What are key features of this property?

This property features: 7,529 SF mixed‑use building with 9 multifamily units; Additional 3,234 SF commercial space; Renovated in 2023; original construction dates to 1870