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    2 Patriot Pl Foxborough, MA 02035

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    For Lease
    Contact for pricing

    Prime Boston-area retail space available.

    Lot size:
    700,000 SF

    Property Features for 2 Patriot Pl

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    700,000 SF

    Spaces For Lease

    at 2 Patriot Pl, Foxborough, MA 02035 Contact us

    We can help!

    Listing Contact
    Daniel Dori - -
    Daniel Dori - -

    Listing Agency: Blackline Retail Group Listing Agent: Daniel Dori - -

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Patriot Place offers exceptional retail opportunities in the vibrant Boston submarket. This dynamic, open-air lifestyle center, situated near Gillette Stadium, boasts over 700,000 square feet of retail space and enjoys over 10 million annual visits. Currently, there are multiple spaces available, ranging from a minimum of 2,000 square feet to a maximum contiguous space of 40,038 square feet, with a total of 70,178 square feet currently vacant. The center features a diverse mix of tenants, including restaurants, entertainment venues, and other retail establishments. The property is designed to provide a convenient and engaging shopping experience for visitors. Its strategic location near Gillette Stadium, home to the New England Patriots and New England Revolution, ensures high foot traffic and visibility. The building includes elevators for convenient access to all levels. This presents a unique chance to establish a presence in a high-traffic, well-established retail destination. The flexible space options cater to a variety of business needs, making it an ideal location for both established businesses and new ventures seeking a prominent position in the Boston market. The property's impressive size and diverse tenant mix create a synergistic environment, promising strong potential for growth and success. Inquire today to explore the available spaces and secure your place in this thriving retail hub.
    Property Profile Location Intelligence

    Current Use by Public Records

    Express Clothing & Fashion Store Patriot Place Shopping Center & Mall ChargePoint Charging Station Electric Vehicle Charging Station Patriot Place Management ... Property Management Company Gillette Stadium Lot ... Parking Lot & Garage

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Foxborough
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.26763473
    Latitude
    42.09249395

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    FAQs

    What type of property is this?
    Neighborhood center - Prime Boston-area retail space available.
    Where is this neighborhood center located?
    The property is located at 2 Patriot Pl Foxborough, MA.
    What are key features of this property?
    This property features: 700,000 square foot retail property in the Boston submarket.; Multi-tenant strip center with spaces ranging from 2,000 to 40,038 contiguous square feet available.; 70,178 square feet of vacant space currently available.
    (617) 553-1820 Call to check price and availability
    Request Owner's contact information
    2 Patriot Pl Foxborough, MA 02035
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    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
    2 Patriot Pl Foxborough, MA 02035
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Daniel Dori - -
    Daniel Dori - -
    (617) 553-1820 (617) 553-1840
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