Flex Building with Loading
For Sale
$995,000
737 Washington Street, Pembroke, MA 02359
Residential-Commercial zoning and Route 53 access support a range of commercial configurations.
Property Size8,600 SF
Lot Size0.92 Acres
Price / SF$115.70
Days on Market194
Property Features for 737 Washington Street
General Information
Standard status
Active
Size
8,600 SF
Lot size
0.92 Acres
Property subtype
Factory
Zoning
Residential-Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Office Build-Out
8,600 SF
Dock-High Doors
1
Amenities
loading dock
yard area
Building Details
Building Size
8,600 SF
Year Built
1983
Buildings
1
Properties For Sale
at 737 Washington Street Contact us- Size
- 8,600 SF
- Lease Type
- NNN
737 Washington Street
Listing Agency:
Ellis Realty Advisors
(781) 919-0800
Listed By:
David Ellis · License #9524572
(781) 919-0800
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 3:33PM
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 Ellis Realty Advisors
Investment Insights
Based on property information with market context.
This 8,600-square-foot flex building was constructed in 1983 on 0.92 acres. The property includes office space, a loading dock, and rear yard area options, providing a combination of enclosed workspace and exterior utility. The building is positioned for varied commercial applications, including medical, daycare, office, manufacturing, and warehouse use.
Located on Route 53 in Pembroke, the property is minutes from Route 3 and Exit 11. Residential-Commercial zoning is in place, and the site’s acreage provides room to consider rear-yard operations alongside the existing building improvements.
Located on Route 53 in Pembroke, the property is minutes from Route 3 and Exit 11. Residential-Commercial zoning is in place, and the site’s acreage provides room to consider rear-yard operations alongside the existing building improvements.
Key Highlights
- 8,600‑square‑foot flex building on 0.92 acres
- Residential‑Commercial zoning
- One loading dock
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
$91,478
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
9.19%
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%
$1,829,560
$1.8M
Cap Rate 7%
$1,306,829
$1.3M
Cap Rate 9%
$1,016,422
$1.0M
Market Conditions
NOI Build-Up for 8,600 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
$138.3K $16.08/SF
− Vacancy
−$7.6K −$0.88/SF
EGI
$130.7K $15.20/SF
− OpEx
−$39.2K −$4.56/SF
NOI
$91.5K $10.64/SF
Area
Plymouth County, MA
Vacancy
5.50%
Lease Rate
$16.08 /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%
$1,829,560
Cap Rate 7%
$1,306,829
Cap Rate 9%
$1,016,422
Alternative Uses
Best Use
Office B
$2.57M
$2.25M – $3.00M
NOI $179,878 @ 7.0% cap · market cap 18.08%
Second Best
Flex RnD
$2.28M
$1.99M – $2.66M
NOI $159,315 @ 7.0% cap · market cap 16.01%
Theoretical Best
Office A
$5.09M
$4.45M – $5.94M
NOI $356,382 @ 7.0% cap · market cap 35.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02359, MA
18,361
Population
7,173
Households
2.6
Avg Household Size
43
Median Age
46%
College-Educated
97%
High-School Grad
21.8 sq mi
ZIP Area
842
Density / Sq Mi
$141,332
Median Household Income
$69,860
Median Earnings
$2,413
Median Rent
$550,300
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?
Flex space - Residential-Commercial zoning and Route 53 access support a range of commercial configurations.
Where is this flex space located?
The property is located at 737 Washington Street Pembroke, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 8,600‑square‑foot flex building on 0.92 acres; Residential‑Commercial zoning; One loading dock
