Mixed-Use Building with Office
For Sale
Contact for pricing
962 Washington St, Hanover, MA 02339
Includes two leased units and a customizable space for an owner-user or approved commercial use.
Property Size9,000 SF
Price / SF$222.22
Days on Market393
Property Features for 962 Washington St
General Information
Standard status
Active
Size
9,000 SF
Property subtype
RETAIL
Listing Agency:
Ellis Realty Advisors
(781) 919-0800
Listed By:
Bill Kingdon · License #9558664
(603) 560-2710
Source:
Moodyscre
Added: Sep 18, 2025
Changed: Oct 15
Last Checked: Oct 15 at 12:52AM
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 Ellis Realty Advisors
Investment Insights
Based on property information with market context.
This 9,000-square-foot mixed-use building combines retail and office space, with two units occupied under long-term leases and another unit available for an owner-occupant. The available space includes a reception and waiting area, 6 private offices, a conference room, 2 private bathrooms, and a kitchen or break room. Its layout can accommodate retail, professional office, or medical uses permitted under current zoning.
Positioned along Route 53, the property records traffic of over 20,000 vehicles per day and offers both building and pylon signage opportunities. The exterior has recently been painted, and the parking lot has been redone. Within 3 miles, the area has a population over 20,000 and household income over $125,000.
Positioned along Route 53, the property records traffic of over 20,000 vehicles per day and offers both building and pylon signage opportunities. The exterior has recently been painted, and the parking lot has been redone. Within 3 miles, the area has a population over 20,000 and household income over $125,000.
Key Highlights
- 9,000‑square‑foot mixed‑use retail and office building
- Two tenants occupy units under long‑term leases
- Available unit includes 6 private offices, conference room, 2 private bathrooms, and kitchen/break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,874
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,957,480
$3.0M
Cap Rate 7%
$2,112,486
$2.1M
Cap Rate 9%
$1,643,044
$1.6M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$216.0K $24.00/SF
− Vacancy
−$4.8K −$0.53/SF
EGI
$211.2K $23.47/SF
− OpEx
−$63.4K −$7.04/SF
NOI
$147.9K $16.43/SF
Area
Plymouth County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,957,480
Cap Rate 7%
$2,112,486
Cap Rate 9%
$1,643,044
Alternative Uses
Best Use
Office B
$2.69M
$2.35M – $3.14M
NOI $188,244 @ 7.0% cap · market cap 9.41%
Second Best
Retail
$2.11M
$1.85M – $2.46M
NOI $147,874 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$5.33M
$4.66M – $6.22M
NOI $372,958 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 02339, MA
14,833
Population
4,974
Households
3
Avg Household Size
42
Median Age
57%
College-Educated
96%
High-School Grad
15.5 sq mi
ZIP Area
957
Density / Sq Mi
$174,821
Median Household Income
$69,688
Median Earnings
$1,642
Median Rent
$706,200
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?
Mixed-use property - Includes two leased units and a customizable space for an owner-user or approved commercial use.
Where is this mixed-use property located?
The property is located at 962 Washington St Hanover, 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: 9,000‑square‑foot mixed‑use retail and office building; Two tenants occupy units under long‑term leases; Available unit includes 6 private offices, conference room, 2 private bathrooms, and kitchen/break room
