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    2371 Cranberry Hwy Wareham, MA 02576
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    2371 Cranberry Hwy, Wareham, MA 02576

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    • Warehouses
    • 14,022 SF
    • 1.67 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2371 Cranberry Hwy

    Lot size
    1.67 lot acres
    Property type
    Warehouses
    Property subtype
    Retail properties & Spaces

    Description

    This 14,022 square foot warehouse in Wareham, MA, offers a prime commercial opportunity. Previously used as an auto dealership and repair shop, this single-tenant property features a two-story building on 1.67 acres of land, renovated in 2020. The property boasts over 108 parking spaces, providing ample room for customers and employees. Its strategic location, just one mile from Route 195 and two miles from Route 495, ensures excellent accessibility and visibility. The building's zoning is SC, and it's situated in Plymouth County. The versatile space includes a main floor ideal for various uses, complemented by a mezzanine level perfect for office space or storage. Its proximity to other industrial and commercial businesses creates a thriving commercial environment. This property is well-suited for a variety of businesses, including automotive-related enterprises, retail ventures, and companies requiring office and storage space. The property presents a strong foundation for growth and success in a high-traffic area. The building's layout and ample parking make it an attractive option for businesses seeking a prominent location with convenient amenities. This is an exceptional opportunity for businesses seeking a well-connected location with significant growth potential.

    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
    -70.7503
    Latitude
    41.7868

    Comparable in this City

    • Value Estimation by Request
      20,000 SF

      2384 Cranberry Hwy

      Distribution properties
      2384 Cranberry Hwy, Wareham, MA 02576
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    • Value Estimation by Request
      29,000 SF

      6 Little Brk Rd

      Flex space
      6 Little Brk Rd, 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
      View Details
    • Value Estimation by Request
      9.03 Acres

      20 Pattersons Brk Rd

      INDUSTRIAL (GENERAL)
      20 Pattersons Brk Rd, West Wareham, MA 02576-1265
      View Details
    • 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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      3,117 SF

      Two Homes on Cranberry Highway

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      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
      View Details
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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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