Historic Two-Story Office
For Sale
$550,000
78 Middle Street, Fairhaven, MA 02719
Office property with harbor views, separate heating systems, and off-street parking.
Property Size2,312 SF
Price / SF$237.89
Days on Market172
Property Features for 78 Middle Street
General Information
Standard status
Active
Size
2,312 SF
Total Parking Spaces
10
Property subtype
Multi-family / 3 Family - 3 Units Up/Down
Zoning
office
Taxes and HOA fees
Annual Taxes
$7,697
Amenities
No
2
Yes
3.0
Full, Interior Access
1
2.00
3
Scenic View(s), Yes
Frame, Stone
Shingle
Cleared, Level
Balcony/Deck, Balcony
Harbor, Ocean
Harbor, Ocean, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
Building Details
Year Built
1840
Buildings
1
Stories
2
Listing Agency:
Conway - Mattapoisett
(508) 758-4944
Listed By:
Kerrie McNamara · License #9588481
(508) 758-4944
Source:
Compass
Added: Mar 13
Changed: Aug 31
Last Checked: Aug 31 at 1:18AM
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 Conway - Mattapoisett
Investment Insights
Based on property information with market context.
This 2,312 SF office building spans two levels and carries a 1840 construction date. The first floor includes three separate business areas and two centrally located half baths, while the upper level provides a private full bath with shower. Independent heating systems serve each floor, supporting flexible occupancy arrangements. The property is zoned office and includes off-street parking.
Located at 78 Middle Street in Fairhaven, the property offers views toward the harbor and ocean, along with deep water access. Public beach access is listed within 0 to 1/10 mile. The building’s frame and stone construction, shingle exterior, balcony or deck, level cleared setting, and coastal outlook add to its physical character.
Located at 78 Middle Street in Fairhaven, the property offers views toward the harbor and ocean, along with deep water access. Public beach access is listed within 0 to 1/10 mile. The building’s frame and stone construction, shingle exterior, balcony or deck, level cleared setting, and coastal outlook add to its physical character.
Key Highlights
- 2,312 SF office building constructed in 1840
- Two‑story layout with three separate first‑floor business spaces
- Two first‑floor half baths plus a second‑floor full bath with shower
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
$38,001
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
6.91%
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%
$760,020
$760.0K
Cap Rate 7%
$542,871
$542.9K
Cap Rate 9%
$422,233
$422.2K
Market Conditions
NOI Build-Up for 2,312 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
$63.3K $27.36/SF
− Vacancy
−$12.6K −$5.44/SF
EGI
$50.7K $21.92/SF
− OpEx
−$12.7K −$5.48/SF
NOI
$38.0K $16.44/SF
Area
Bristol County, MA
Vacancy
19.90%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
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%
$760,020
Cap Rate 7%
$542,871
Cap Rate 9%
$422,233
Alternative Uses
Best Use
Office B
$542.9K
$475.0K – $633.4K
NOI $38,001 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,558 @ 7.0% cap · market cap 17.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 02719, MA
15,924
Population
7,777
Households
2
Avg Household Size
49
Median Age
30%
College-Educated
92%
High-School Grad
12.4 sq mi
ZIP Area
1,284
Density / Sq Mi
$92,500
Median Household Income
$57,781
Median Earnings
$1,071
Median Rent
$407,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property with harbor views, separate heating systems, and off-street parking.
Where is this office building located?
The property is located at 78 Middle Street Fairhaven, MA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,312 SF office building constructed in 1840; Two‑story layout with three separate first‑floor business spaces; Two first‑floor half baths plus a second‑floor full bath with shower
