Historic Building with Panoramic
For Sale
$2,000,000
8 Carver St, Plymouth, MA 02360
Unique 7,000 SF building with diverse development possibilities.
Property Size7,000 SF
Lot Size0.22 Acres
Price / SF$285.71
Days on Market153
Property Features for 8 Carver St
General Information
Standard status
Active
Size
7,000 SF
Lot size
0.22 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,938
Building Details
Year Built
1903
Listing Agency:
South Shore Sotheby's International Realty
(339) 933-9864
Listed By:
Ryan Ahern
(339) 933-9864
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:47AM
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 South Shore Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 7,000-square-foot building presents a unique acquisition opportunity, offering scenic views of Plymouth, Kingston, and Duxbury Bay. Perched atop Cole's Hill, the property provides panoramic vistas of Plymouth Rock, the Mayflower II, Long Beach, and Saquish Beach. The "downtown harbor" zoning designates this property as an exceptional investment, allowing for diverse uses such as single and multi-family residential developments, an inn or hotel, a restaurant, office spaces, retail outlets, a historical museum, and a cinema. Originally constructed as a church in 1903, the structure features brick and stone architecture, large stained glass windows, and ample parking. This property is located in Plymouth, Massachusetts.
Key Highlights
- Panoramic views of Plymouth Rock, Mayflower II, Long Beach, and Saquish Beach.
- "Downtown harbor" zoning allows for diverse development options.
- Large 7,000‑square‑foot building.
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
$146,412
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
7.32%
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%
$2,928,240
$2.9M
Cap Rate 7%
$2,091,600
$2.1M
Cap Rate 9%
$1,626,800
$1.6M
Market Conditions
NOI Build-Up for 7,000 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
$235.2K $33.60/SF
− Vacancy
−$40.0K −$5.71/SF
EGI
$195.2K $27.89/SF
− OpEx
−$48.8K −$6.97/SF
NOI
$146.4K $20.92/SF
Area
Plymouth County, MA
Vacancy
17.00%
Lease Rate
$33.60 /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%
$2,928,240
Cap Rate 7%
$2,091,600
Cap Rate 9%
$1,626,800
Alternative Uses
Best Use
Office B
$2.09M
$1.83M – $2.44M
NOI $146,412 @ 7.0% cap · market cap 7.32%
Second Best
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,389 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,078 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
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?
Church & religious facility - Unique 7,000 SF building with diverse development possibilities.
Where is this church & religious facility located?
The property is located at 8 Carver St Plymouth, 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: Panoramic views of Plymouth Rock, Mayflower II, Long Beach, and Saquish Beach.; "Downtown harbor" zoning allows for diverse development options.; Large 7,000‑square‑foot building.
