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    2384 Cranberry Hwy Wareham, MA 02576
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    2384 Cranberry Hwy, Wareham, MA 02576

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    • Warehouses
    • 20,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2384 Cranberry Hwy

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 20,000-square-foot industrial warehouse, located at 2384 Cranberry Highway in Wareham, Massachusetts, presents a significant opportunity for businesses seeking efficient and well-appointed space. The single-tenant building boasts a functional layout, ideal for distribution or warehousing operations. The property features a single story with impressive ceiling heights ranging from 18 to 22 feet, providing ample vertical space for storage and operational flexibility. Three loading docks, equipped with three dock-high doors, ensure seamless loading and unloading processes, complemented by an additional drive-in door for convenient access. The warehouse is situated in Plymouth County, offering easy access to major transportation routes, enhancing logistical efficiency. Beyond the primary warehouse space, an additional 5,000 square feet of office space is included, providing a dedicated area for administrative functions. The property's strategic location also allows for potential expansion, with the possibility of adding more loading docks and the availability of nearby outdoor storage or trailer parking. This turnkey solution combines functionality, accessibility, and expansion potential, making it an ideal choice for a variety of industrial businesses. The property is located in Wareham, MA, zip code 02576.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wareham
    County
    Plymouth
    State
    Massachusetts
    Longitude
    -70.7458
    Latitude
    41.786

    Comparable in this City

    • Value Estimation by Request
      29,000 SF

      6 Little Brk Rd

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      6 Little Brk Rd, Wareham, MA 02576
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    • Value Estimation by Request
      14,022 SF

      2371 Cranberry Hwy

      Distribution properties
      2371 Cranberry Hwy, Wareham, MA 02576
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    • Value Estimation
      $520,000
      15,137 SF

      50 Carver Rd

      WAREHOUSE, STORAGE
      50 Carver Rd, West Wareham, MA 02576-1226
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    • Value Estimation by Request
      15.46 Acres

      4 Little Brk Rd

      INDUSTRIAL (GENERAL)
      4 Little Brk Rd, West Wareham, MA 02576-1222
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    • Value Estimation by Request
      9.03 Acres

      20 Pattersons Brk Rd

      INDUSTRIAL (GENERAL)
      20 Pattersons Brk Rd, West Wareham, MA 02576-1265
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    • Value Estimation by Request
      2,000 SF

      21 Pattersons Brk Rdh

      CONDOMINIUMS (INDUSTRIAL)
      21 Pattersons Brk Rdh, West Wareham, MA 02576-1217
      View Details

    Similar Nearby for Sale

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    • Contact for pricing
      3,117 SF

      Two Homes on Cranberry Highway

      Two homes, live in one, rent the other.
      2230-2232 Cranberry Hwy, Wareham, MA 02576
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    • Contact for pricing
      3,117 SF

      Two Homes on Cranberry Highway

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    Similar Nearby for Lease

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      7,100 SF

      West Wareham Warehouse For Rent

      7,100 SF warehouse space with office and loading dock.
      6 Little Brook Rd, West Wareham, MA 02576
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    • Contact for pricing

      Wareham Commercial Property For Lease

      Versatile commercial space ideal for automotive, retail, or office ventures.
      2371 Cranberry Hwy, Wareham, MA 02576
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    Wareham, MA 02576
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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
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