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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    235 Essex St Whitman, MA 02382-1509

    • Showrooms
    • 10,440 SF
    • 1.18 lot acres
    OFF-MARKET
    Last Sale
    Nov 12, 2024
    $1,860,000
    Value Estimations
    $1,860,000
    Show details
    Cap Rate Potential
    5.4%
    Showrooms
    Location Intelligence
    Property ID
    US38-1777148
    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.

    Current Use by Public Records

    • Currie Excavations / Construction Company
    • God And Country Candles / Home Decor Store
    • Homeworks Energy / Warehouse & Storage

    Property Details for 235 Essex St

    Year built
    1997
    Construction
    STEEL FRAME
    Lot size
    1.18 lot acres
    Property size
    10,440 SF
    Zone code
    A2
    Property type
    Showrooms
    APN
    WHIT M:0016 B:0057 L:25
    APU
    WHITM0016B0057L25

    Description

    This exceptional 1.18-acre parcel of land, located at 235 Essex Street in Whitman, Massachusetts, presents a compelling investment opportunity. Priced at $2,250,000, this property is ideally suited for a variety of industrial uses, offering significant potential for development. The expansive lot provides ample space for construction, allowing for flexibility in design and functionality. Its strategic location in Whitman offers convenient access to major transportation routes, facilitating efficient logistics and distribution. The property's zoning designation specifically permits industrial development, streamlining the permitting process and minimizing potential delays. This presents a rare chance to acquire a substantial piece of land in a thriving area, ready for immediate development or future expansion. The absence of existing structures on the site allows for complete customization to meet specific business needs. Prospective buyers are encouraged to conduct their own due diligence to fully assess the property's suitability for their intended purpose. This is a unique opportunity to secure a prime piece of industrial real estate in a desirable location. The property's size and location make it an attractive prospect for businesses seeking to establish or expand their operations in the region. Serious inquiries are welcome.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,860,000
      ML approach
      $1,860,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,680,000
      6.5%
      $1,550,000
      7%
      $1,440,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,900,000
      Current use
      RESTAURANT
      $2,750,000
      Change: +45% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,370,000
      Change: +25% Conversion: Moderate
      RETAIL STORES
      $2,165,000
      Change: +14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,160,000
      Change: +14% Conversion: Difficult
      OFFICE BUILDING
      $2,110,000
      Change: +11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Whitman
    County
    Plymouth
    State
    Massachusetts
    Longitude
    -70.9285
    Latitude
    42.0901
    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
    $6,040
    $171,600
    $302,500
    $474,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      5,400 SF

      44 Blake St

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      View Details
    • Value Estimation by Request
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      359 Commercial St

      SHOW ROOM, WAREHOUSE • 5,280 SF
      359 Commercial St, Whitman, MA 02382-2405
      View Details
    • Value Estimation by Request
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      60 Erin St

      SHOW ROOM, WAREHOUSE • 5,060 SF
      60 Erin St, Whitman, MA 02382-2432
      View Details
    • Value Estimation
      $880,000
      10,800 SF

      5 Industrial Way

      SHOW ROOM, WAREHOUSE • 10,800 SF
      5 Industrial Way, Whitman, MA 02382
      View Details
    • Value Estimation
      $600,000
      5,900 SF

      1179 Auburn St

      SHOW ROOM, WAREHOUSE • 5,900 SF
      1179 Auburn St, Whitman, MA 02382-1720
      View Details
    • Value Estimation by Request
      3,100 SF

      18th Linden Pl

      SHOW ROOM, WAREHOUSE • 3,100 SF
      18th Linden Pl, Whitman, MA 02382-2416
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
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    • $1,841 /Mo
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    235 Essex St
    Whitman, MA 02382-1509
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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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