Office/Warehouse Flex
For Sale
Contact for pricing
90 Kerry Pl, Norwood, MA 02062
Multi-tenant office/warehouse building with five leased spaces, including a kids interactive center and dance studio.
Property Size18,420 SF
Lot Size1.38 Acres
Price / SF$171.01
Days on Market249
Property Features for 90 Kerry Pl
General Information
Standard status
Active
Size
18,420 SF
Lot size
1.38 Acres
Property subtype
OFFICE
Building Details
Tenancy
Multi
Listing Agency:
Atlantic Commercial Real Estate, LLC
(781) 551-8888
Listed By:
Mark Kearins · License #138273-RE-B
Source:
Moodyscre
Added: Jan 8
Changed: Sep 10
Last Checked: Sep 13 at 10:30AM
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 Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This multi-tenant office/warehouse flex building totals approximately 18,420 SF and is occupied by five tenants with short-term lease terms. Space includes Kids Interactive Center (about 4,500 +/- SF, NNN), Conseal International (about 5,478 +/- SF, mod. NNN), Imagine Scientific (about 1,787 +/- SF, mod. NNN), Medical Billing Specialists (about 2,126 +/- SF, mod. NNN), and Fred Astaire Dance Studio (about 3,753 +/- SF, NNN).
Leases are staggered through 2030. Kids Interactive Center is leased through July 31, 2029 and includes 3–5 year options to extend. Conseal International is leased through July 31, 2026 with no options. Imagine Scientific is leased through June 30, 2026. Medical Billing Specialists is leased through July 31, 2028. Fred Astaire Dance Studio is leased through July 31, 2030.
The property is located at 90 Kerry Pl, Norwood, MA 02062.
Leases are staggered through 2030. Kids Interactive Center is leased through July 31, 2029 and includes 3–5 year options to extend. Conseal International is leased through July 31, 2026 with no options. Imagine Scientific is leased through June 30, 2026. Medical Billing Specialists is leased through July 31, 2028. Fred Astaire Dance Studio is leased through July 31, 2030.
The property is located at 90 Kerry Pl, Norwood, MA 02062.
Key Highlights
- 18,420 SF multi‑tenant office/warehouse building with 5 leased spaces
- Kids interactive center (4,500 +/- SF) is leased through July 31, 2029 with 3–5 year extension options
- Conseal International (5,478 +/- SF) leased through July 31, 2026 (modified NNN) with no options
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
$195,932
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
6.22%
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%
$3,918,640
$3.9M
Cap Rate 7%
$2,799,029
$2.8M
Cap Rate 9%
$2,177,022
$2.2M
Market Conditions
NOI Build-Up for 18,420 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
$296.2K $16.08/SF
− Vacancy
−$16.3K −$0.88/SF
EGI
$279.9K $15.20/SF
− OpEx
−$84.0K −$4.56/SF
NOI
$195.9K $10.64/SF
Area
Norfolk County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
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%
$3,918,640
Cap Rate 7%
$2,799,029
Cap Rate 9%
$2,177,022
Alternative Uses
Best Use
Flex RnD
$4.52M
$3.95M – $5.27M
NOI $316,087 @ 7.0% cap · market cap 10.03%
Second Best
Industrial
$2.80M
$2.45M – $3.27M
NOI $195,932 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$10.90M
$9.54M – $12.72M
NOI $763,320 @ 7.0% cap · market cap 24.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02062, MA
31,611
Population
13,961
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
93%
High-School Grad
10.5 sq mi
ZIP Area
3,011
Density / Sq Mi
$97,110
Median Household Income
$60,434
Median Earnings
$2,056
Median Rent
$613,500
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 Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant office/warehouse building with five leased spaces, including a kids interactive center and dance studio.
Where is this flex space located?
The property is located at 90 Kerry Pl Norwood, MA.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 18,420 SF multi‑tenant office/warehouse building with 5 leased spaces; Kids interactive center (4,500 +/- SF) is leased through July 31, 2029 with 3–5 year extension options; Conseal International (5,478 +/- SF) leased through July 31, 2026 (modified NNN) with no options
