Two-Story Office Half-Duplex with Separate
For Sale
$275,000
B-347 W Grove St, Middleboro, MA
Two-unit half-duplex with first-floor office and upstairs space, separate entrance, GU zoning, and Route 28 frontage.
Property Size1,721 SF
Price / SF$159.79
Days on Market191
Property Features for B-347 W Grove St
General Information
Standard status
Active
Size
1,721 SF
Zoning
GU
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,914
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Cape Landing Real Estate
(508) 208-1159
Listed By:
Gary Asack
(508) 208-1159
Source:
Exprealty
Added: Feb 19
Changed: Aug 20
Last Checked: Aug 26 at 11:10AM
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 Cape Landing Real Estate
Investment Insights
Based on property information with market context.
This spacious two-story commercial half-duplex features an open layout and two units within the building, with an upstairs space accessible via a separate entrance. The first floor offers over 1,000 sq. ft. of versatile space for a business or office, while the upper level provides 600+ sq. ft. for personal use or rental space, depending on how you structure the operation.
The property is located approximately 1.1 miles from the new Middleboro T Station and benefits from busy Route 28 frontage for visibility and convenient access. Improvements noted include an LED sign rebuilt in 2022, a fully re-shingled roof from October 2018, and a new septic system installed in September 2019. Zoned GU, the entire building is available for purchase or lease.
The combination of two separate levels, a separate upstairs entrance, and recent property upgrades supports flexible occupancy or mixed-use configuration within one asset.
The property is located approximately 1.1 miles from the new Middleboro T Station and benefits from busy Route 28 frontage for visibility and convenient access. Improvements noted include an LED sign rebuilt in 2022, a fully re-shingled roof from October 2018, and a new septic system installed in September 2019. Zoned GU, the entire building is available for purchase or lease.
The combination of two separate levels, a separate upstairs entrance, and recent property upgrades supports flexible occupancy or mixed-use configuration within one asset.
Key Highlights
- Spacious two‑story commercial half‑duplex with 2 units and 1,700+ sq. ft. of versatile space
- First floor offers 1,000+ sq. ft. of office/commercial space; upstairs adds 600+ sq. ft. with a separate entrance
- Busy Route 28 frontage with prime visibility and easy access
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
$16,625
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
6.05%
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%
$332,500
$332.5K
Cap Rate 7%
$237,500
$237.5K
Cap Rate 9%
$184,722
$184.7K
Market Conditions
NOI Build-Up for 1,721 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
$28.9K $16.80/SF
− Vacancy
−$2.3K −$1.34/SF
EGI
$26.6K $15.46/SF
− OpEx
−$10.0K −$5.80/SF
NOI
$16.6K $9.66/SF
Area
Plymouth County, MA
Vacancy
8.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
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%
$332,500
Cap Rate 7%
$237,500
Cap Rate 9%
$184,722
Alternative Uses
Best Use
Office B
$514.2K
$450.0K – $599.9K
NOI $35,996 @ 7.0% cap · market cap 13.09%
Second Best
Mixed Use
$237.5K
$207.8K – $277.1K
NOI $16,625 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.02M
$891.5K – $1.19M
NOI $71,318 @ 7.0% cap · market cap 25.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Two-unit half-duplex with first-floor office and upstairs space, separate entrance, GU zoning, and Route 28 frontage.
Where is this live-work space located?
The property is located at B-347 W Grove St Middleboro, MA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Spacious two‑story commercial half‑duplex with 2 units and 1,700+ sq. ft. of versatile space; First floor offers 1,000+ sq. ft. of office/commercial space; upstairs adds 600+ sq. ft. with a separate entrance; Busy Route 28 frontage with prime visibility and easy access
