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    55R Washington St Norwell, MA 02061
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    55R Washington St Norwell, MA 02061

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    Property Details for 55R Washington St

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 2,100 square foot single-tenant retail space, located at 55R Washington Street in Norwell, Massachusetts, presents a fantastic opportunity for businesses seeking a prominent location in a thriving commercial area. Situated on Route 53, this property enjoys excellent visibility and accessibility, ensuring high traffic flow and convenient access for customers and employees. The space boasts a functional layout, previously occupied by a physical therapy practice, featuring multiple built-out offices and a bathroom, minimizing upfront renovation costs. The existing infrastructure provides a solid foundation for a variety of businesses, from professional services to retail operations. Ample parking is available on-site, accommodating approximately 13 vehicles, ensuring convenience for clients and staff. This property is located in Plymouth County, with a zip code of 02061. The property's convenient location and existing build-out make it an ideal choice for businesses seeking a move-in ready space in a high-traffic area. The property is classified as retail with an office subtype. This is a single-tenant space, offering a unique opportunity for a business to establish a strong presence in a desirable location. The property's address is 55R Washington Street, Norwell, MA.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Norwell
    County
    Plymouth
    State
    Massachusetts
    Longitude
    -70.8813
    Latitude
    42.1742

    Comparable in this City

    • Value Estimation
      $1,230,000
      8,969 SF

      707 Main St

      DEPARTMENT STORE • 8,969 SF
      707 Main St, Norwell, MA 02061-2343
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    • Value Estimation
      $1,035,000
      6,600 SF

      380 Washington St, Unit 5

      CONDOMINIUM OFFICES • 6,600 SF
      380 Washington St, Norwell, MA 02061-2010
      View Details
    • Value Estimation
      $530,000
      3,000 SF

      380 Washington St, Unit 3-2

      CONDOMINIUM OFFICES • 3,000 SF
      380 Washington St, Norwell, MA 02061-2010
      View Details
    • Value Estimation by Request
      1,972 SF

      99 Longwater Cir Ste, Unit 201

      CONDOMINIUM OFFICES • 1,972 SF
      99 Longwater Cir Ste, Norwell, MA 02061-1643
      View Details
    • Value Estimation by Request
      993 SF

      99 Longwater Cir Ste, Unit 203

      CONDOMINIUM OFFICES • 993 SF
      99 Longwater Cir Ste, Norwell, MA 02061-1643
      View Details
    • Value Estimation by Request
      665 SF

      80 Washington St, Unit 14

      CONDOMINIUM OFFICES • 665 SF
      80 Washington St, Norwell, MA 02061-1740
      View Details

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      Route 53 Retail/Office Space

      Prime location with open space and unique architectural features.
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      Prime Retail/Office Space Available

      Highly visible retail or office space with flexible terms.
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      2,145 SF

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      Norwell Retail and Office Space

      Retail and office spaces available for lease in Norwell.
      124 Washington St, Norwell, MA 02061
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    55R Washington St
    Norwell, MA 02061
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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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