Four-Unit Office
For Sale
$999,900
85 Copeland Dr, Mansfield, MA 02048
Brick commercial property with dedicated parking, private offices, and separate utility service.
Property Size3,600 SF
Price / SF$277.75
Days on Market243
Property Features for 85 Copeland Dr
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
18
Property subtype
Commercial
Zoning
Mixed
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
4
Taxes and HOA fees
Annual Taxes
$12,889
Amenities
farmer's porch
Building Details
Building Size
3,600 SF
Year Built
1985
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Atlantic Properties
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jan 10
Changed: Sep 9
Last Checked: Jul 7 at 4:43AM
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 Atlantic Properties
Investment Insights
Based on property information with market context.
Built in 1985, this 3,600-square-foot office property contains four approximately 900-square-foot units. Each suite includes a reception area, conference room, two private offices, and a half bath; Unit B combines two rooms into one. Three units are leased, including two occupied under month-to-month arrangements, and separate gas and electric utilities serve the suites. Town water and sewer are also in place.
The building at 85 Copeland Dr in Mansfield, Massachusetts, features a brick exterior, a 5-by-60-foot farmer’s porch, and 18 off-street parking spaces. Recent painting and a newer roof provide updated exterior and maintenance features. An additional 1,800-square-foot unfinished basement offers substantial auxiliary space.
The building at 85 Copeland Dr in Mansfield, Massachusetts, features a brick exterior, a 5-by-60-foot farmer’s porch, and 18 off-street parking spaces. Recent painting and a newer roof provide updated exterior and maintenance features. An additional 1,800-square-foot unfinished basement offers substantial auxiliary space.
Key Highlights
- Four office units totaling 3,600 square feet
- Three units leased; two month‑to‑month tenants would like to remain
- Each 900 sq. ft. unit includes reception, conference room, two private offices, and a half bath
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
$59,171
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
5.92%
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%
$1,183,420
$1.2M
Cap Rate 7%
$845,300
$845.3K
Cap Rate 9%
$657,456
$657.5K
Market Conditions
NOI Build-Up for 3,600 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
$98.5K $27.36/SF
− Vacancy
−$19.6K −$5.44/SF
EGI
$78.9K $21.92/SF
− OpEx
−$19.7K −$5.48/SF
NOI
$59.2K $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%
$1,183,420
Cap Rate 7%
$845,300
Cap Rate 9%
$657,456
Alternative Uses
Best Use
Office B
$845.3K
$739.6K – $986.2K
NOI $59,171 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,464 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
Explore this area
Business Placement
Demographics for 02048, MA
23,860
Population
9,228
Households
2.6
Avg Household Size
40
Median Age
51%
College-Educated
96%
High-School Grad
20.1 sq mi
ZIP Area
1,187
Density / Sq Mi
$131,409
Median Household Income
$65,154
Median Earnings
$1,702
Median Rent
$571,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Brick commercial property with dedicated parking, private offices, and separate utility service.
Where is this office building located?
The property is located at 85 Copeland Dr Mansfield, MA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Four office units totaling 3,600 square feet; Three units leased; two month‑to‑month tenants would like to remain; Each 900 sq. ft. unit includes reception, conference room, two private offices, and a half bath
