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    10 Riverside Dr Lakeville, MA 02347-3626
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    Property profile & analytics

    10 Riverside Dr, Lakeville, MA 02347-3626

    View on Map
    • Office buildings
    • 22,936 SF
    • 2.28 lot acres
    Off-Market
    Last Sale Mar 4, 2022
    $369,900
    Property ID
    US38-1240710
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 10 Riverside Dr

    Year built
    1990
    Construction
    STEEL FRAME
    Lot size
    2.28 lot acres
    Property type
    Office buildings
    APN
    LAKE M:00062 B:0003 L:010H
    APU
    LAKEM00062B0003L010H

    Description

    This exceptional Class A office space, located at 10 Riverside Drive in Lakeville, Massachusetts, offers a prime opportunity for businesses seeking a prestigious and convenient location. The property, part of the Lakeville Corporate Park, boasts a total of 24,000 square feet across multiple tenancies, with 1,350 square feet currently vacant. This specific suite comprises 1,042 square feet, ideal for a variety of professional uses. Built in 1991, the building sits on a generous 3.35-acre lot, providing ample space and potential for future expansion. Its strategic location directly off Interstate 495 ensures effortless access to Boston, Providence, and Cape Cod, making it an attractive option for companies needing easy regional connectivity. The Lakeville Corporate Park itself offers significant future development potential, with over 14 acres of developable land planned for an additional 158,000 square feet of commercial space. This presents a unique opportunity to be part of a thriving business community with excellent growth prospects. The property's professional subtype and multiple tenancy structure offer flexibility for various business needs. Don't miss this chance to secure a highly desirable office space in a rapidly developing area.

    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
    Lakeville
    County
    Plymouth
    State
    Massachusetts
    Longitude
    -70.923
    Latitude
    41.8768
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $30,371
    $417,200
    $2,461,600
    $2,878,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,785,000
      30,420 SF

      30 Riverside Dr

      OFFICE BUILDING
      30 Riverside Dr, Lakeville, MA 02347-1482
      View Details
    • Value Estimation
      $1,220,000
      7,188 SF

      71 Main St

      OFFICE BUILDING
      71 Main St, Lakeville, MA 02347-1677
      View Details
    • Value Estimation
      $2,500,000
      12,960 SF

      11 Riverside Dr

      OFFICE BUILDING
      11 Riverside Dr, Lakeville, MA 02347-3623
      View Details
    • Value Estimation
      $550,000
      1,816 SF

      65 Main St

      OFFICE BUILDING
      65 Main St, Lakeville, MA 02347-3630
      View Details
    • Value Estimation
      $3,350,000
      12,925 SF

      10 Main St

      OFFICE BUILDING
      10 Main St, Lakeville, MA 02347-1674
      View Details
    • Value Estimation
      $1,055,000
      5,236 SF

      296 Bedford St

      OFFICE BUILDING
      296 Bedford St, Lakeville, MA 02347-1508
      View Details

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    • $299,900
      Pending

      Residential Land in Desirable Area

      11.84 acres of residential land with 279 feet frontage.
      145 County St, Lakeville, MA 02347
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    Similar Nearby for Lease

    • Contact for pricing

      New Retail and Professional Building

      28,000 SF retail and professional building on Route 44.
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      View Details
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      New Retail and Professional Building

      New construction retail and flex space in Lakeville, Massachusetts.
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      35,555 SF

      Cold Storage/Warehouse Space Available

      Cold storage and warehouse space for lease with highway access.
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    Lakeville, MA 02347-3626
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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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