Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land on Route 53 Title is generated by Realmo AI

    775-785 Washington Street, Hanover, MA 02339

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    5.87-acre commercial development/lease opportunity with frontage on Route 53.

    Type:Retail
    Property size:
    3,024 SF
    Lot size:
    5.87 Acres
    Added:
    Mar 6, 2026
    Days on Market:
    77
    Last Refresh:
    Apr 5 at 11:07 pm

    Property Features for 775-785 Washington Street

    General Information

    Standard status
    Active
    Size
    3,024 SF
    Lot size
    5.87 Acres
    Property subtype
    Retail

    Spaces For Lease

    at 775-785 Washington Street Contact us

    We can help!

    Listing Contact
    Paul Leone

    Listing agent Paul Leone

    Listing office NAI | Parsons Commercial Group - Boston

    Listing date Mar 6, 2026

    Source Naiglobal

    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

    HighLights

    • Prime commercial development/lease opportunity on ±5.87 acres.
    • Excellent visibility with ±326 feet of frontage on Route 53.
    • Convenient highway access: less than 2 miles from Route 3.
    • Zoned Commercial (C) supporting a wide range of uses.
    • Proximity to Hanover Crossing and other key amenities.
    • Existing ±3,024 SF building on site.

    Overview

    This is a 5.87-acre commercial development and lease opportunity located along Route 53 in Hanover, MA. The site offers 326 feet of frontage on Route 53 and is zoned Commercial (C), supporting a wide range of retail, service, and professional uses. The location is less than 2 miles from Route 3, providing convenient highway access and proximity to Hanover Crossing and other key amenities. An existing building of approximately 3,024 square feet is present on the site. This South Shore location offers excellent visibility, making it suitable for redevelopment, lease, or new construction.
    Location Intelligence

    Current Use by Public Records

    Dave Delaney's COLUMBIA ... Car Dealership

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Plymouth
    State
    Massachusetts
    Longitude
    -70.8289
    Latitude
    42.1276

    Nearby Similar for Lease

    • $18 SF/Yr
      2,400 SF

      Retail and Office Spaces Available

      Retail, office, and flex spaces available in Hanover, MA.
      193 Rockland St, Hanover, MA 02339
      View Details
    • $2,200/Mo
      1,500 SF

      Industrial Unit for Lease

      1,500 SF industrial unit available for lease.
      295 Winter Street #19, Hanover, MA 02339
      View Details
    • $550/Mo

      Hanover Office Spaces for Lease

      Three office spaces available for lease in Hanover, Massachusetts.
      269 Hanover St #1, Hanover, MA 02339
      View Details
    • $13 SF/Yr
      2,500 SF

      Hanover Flex Space with Loading

      Flex space with office, warehouse, and loading dock access.
      145-155 Webster St, Hanover, MA
      View Details
    • $1,466/Mo
      2,400 SF

      Retail Space in Hanover Corridor

      Retail/office space with high visibility in a bustling commercial area.
      197 Rockland St, Hanover, MA
      View Details
    • $18 SF/Yr
      6,100 SF

      Retail and Office Spaces Available

      Retail, office, and flex spaces for lease in Hanover.
      193 Rockland St, Hanover, MA 02339
      View Details
    • $600/Mo
      2,800 SF

      Hanover Office and Retail Spaces

      Office and retail spaces for lease in Hanover, Massachusetts.
      269 Hanover St #1, Hanover, MA 02339
      View Details
    • $2,300/Mo
      300 SF

      Renovated Office with Route 53 Signage

      Newly renovated office space with high visibility and storage.
      1130 Washington St, Hanover, MA
      View Details
    • Contact for pricing
      2,021 SF

      Retail Space in Merchants Row

      2,021 SF retail space available in Hanover, Massachusetts.
      2103 Washington St, Hanover, MA
      View Details
    • Contact for pricing
      3,024 SF

      Retail Building on Route 53

      Retail building with frontage on Route 53 for rent.
      785 Washington St, Hanover, MA
      View Details
    • Contact for pricing
      4,400 SF

      Retail Space Available Now

      4,400 SF retail space available for lease.
      1376 Washington St, Hanover, MA
      View Details
    • $13 SF/Yr
      11,018 SF

      Retail Building with High Visibility

      Stand-alone retail building with signage and high traffic counts.
      1131 Washington St, Hanover, MA
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.87-acre commercial development/lease opportunity with frontage on Route 53.
    Where is this commercial land located?
    The property is located at 775-785 Washington Street Hanover, MA.
    What are key features of this property?
    This property features: Prime commercial development/lease opportunity on ±5.87 acres.; Excellent visibility with ±326 feet of frontage on Route 53.; Convenient highway access: less than 2 miles from Route 3.
    (508) 820-2700
    We can help!
    Listing Contact
    Paul Leone
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    775-785 Washington Street, Hanover, MA 02339
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!