Three-Building Warehouse
New
For Sale
$4,125,000
77 Spring St, Plympton, MA 02367
GI-zoned industrial property with overhead doors, propane heat, and shared baths.
Property Size22,500 SF
Lot Size1.99 Acres
Price / SF$183.33
Days on Market4
Property Features for 77 Spring St
General Information
Standard status
Active
Size
22,500 SF
Lot size
1.99 Acres
Property subtype
Commercial
Zoning
GI
Warehouse & Industrial
Power
400 amps
Three-Phase Power
No
Additional Details
Asking Price
$4,125,000
Taxes and HOA fees
Annual Taxes
$3,800
Building Details
Year Built
2026
Buildings
3
Listing Agency:
Hartel Realty
(617) 256-3169
Listed By:
Greg Hartel
(617) 256-3169
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 11:41AM
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 Hartel Realty
Investment Insights
Based on property information with market context.
This industrial warehouse property includes three buildings, each measuring approximately 7,500± SF. Each building is divided into five units of roughly 1,500± SF, with a 12’X12’ high overhead door serving each unit. The improvements include propane heat, shared bathrooms, floor drains connected to tight tanks, and 400 AMP single-phase electrical service. Spray foam insulation and other energy-efficient systems are incorporated into the buildings, which were built in 2026.
The property occupies a 1.99± acre site at 77 Spring St in Plympton, Massachusetts. Well water serves the site, and the property is zoned GI - General Industrial. Mechanic shops are not allowed. The configuration provides multiple warehouse units within a coordinated industrial setting.
The property occupies a 1.99± acre site at 77 Spring St in Plympton, Massachusetts. Well water serves the site, and the property is zoned GI - General Industrial. Mechanic shops are not allowed. The configuration provides multiple warehouse units within a coordinated industrial setting.
Key Highlights
- Three buildings, each approximately 7,500± SF
- Each building contains 5 units of approximately 1,500± SF
- Each unit includes a 12’X12’ high overhead door
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
$279,900
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
6.79%
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%
$5,598,000
$5.6M
Cap Rate 7%
$3,998,571
$4.0M
Cap Rate 9%
$3,110,000
$3.1M
Market Conditions
NOI Build-Up for 22,500 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
$359.1K $15.96/SF
− Vacancy
−$29.8K −$1.32/SF
EGI
$329.3K $14.64/SF
− OpEx
−$49.4K −$2.20/SF
NOI
$279.9K $12.44/SF
Area
Plymouth County, MA
Vacancy
8.30%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
15.00%
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%
$5,598,000
Cap Rate 7%
$3,998,571
Cap Rate 9%
$3,110,000
Alternative Uses
Best Use
Flex RnD
$5.95M
$5.21M – $6.95M
NOI $416,813 @ 7.0% cap · market cap 10.10%
Second Best
Warehouse
$4.00M
$3.50M – $4.67M
NOI $279,900 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$13.32M
$11.65M – $15.54M
NOI $932,394 @ 7.0% cap · market cap 22.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02367, MA
2,930
Population
1,253
Households
2.3
Avg Household Size
45
Median Age
36%
College-Educated
92%
High-School Grad
14.7 sq mi
ZIP Area
199
Density / Sq Mi
$119,750
Median Household Income
$55,463
Median Earnings
$402
Median Rent
$499,300
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - GI-zoned industrial property with overhead doors, propane heat, and shared baths.
Where is this warehouse located?
The property is located at 77 Spring St Plympton, MA.
What is the asking price?
The asking price for this property is $4,125,000.
What are key features of this property?
This property features: Three buildings, each approximately 7,500± SF; Each building contains 5 units of approximately 1,500± SF; Each unit includes a 12’X12’ high overhead door
