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    38 Main St Norton, MA 02766-2714
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    Property profile & analytics

    38 Main St, Norton, MA 02766-2714

    View on Map
    • Retail space
    • 14,466 SF
    • 3.49 lot acres
    Off-Market
    Property ID
    US38-0901435
    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
    $2,645,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 38 Main St

    Year built
    2005
    Construction
    FRAME
    Lot size
    3.49 lot acres
    Property type
    Retail space
    APN
    NORT M:23 P:33
    APU
    NORTM23P33

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 25, 2017 — Pennwood Acquistion LLC — Deed · related $12.1M · Jefferies Loancore
    Apr 23, 2007 $4,687,500 Pennwood Acquisition LLC Richmond Norton Rlty LLC Grant Deed —
    Apr 28, 2005 $750,000 Richmond Norton Rlty L Cheryl A Scott Deed $3.2M · Banknorth Mtg Group
    — — Pennwood Acquistion LLC — Deed Of Trust · related $12.1M · Jefferies Loancore

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,835,000
      Market price range: $1.15M - $3.91M
      AI Estimate
      $2,536,000
      Market price range: $753k - $3.14M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,375,000
      Current use
      RESTAURANT
      $3,385,000
      Change: +43% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,575,000
      Change: +8% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,315,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $2,210,000
      Change: -7% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $2,210,000
      Change: -7% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,155,000
      Change: -9% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,915,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norton
    County
    Bristol
    State
    Massachusetts
    Longitude
    -71.1894
    Latitude
    41.9643
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA 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
    $37,952
    $665,100
    $2,077,100
    $2,742,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $515,000
      3,596 SF

      242 Mansfield Ave

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation by Request
      4,170 SF

      376 Old Colony Rd

      RETAIL STORES (PERSONAL SERVICES)
      376 Old Colony Rd, Norton, MA 02766-2021
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    • Value Estimation by Request
      4,816 SF

      4 Olympia St

      RETAIL STORES (PERSONAL SERVICES)
      4 Olympia St, Norton, MA 02766-1205
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    • Value Estimation by Request
      1,380 SF

      401 Old Colony Rd

      RETAIL STORES (PERSONAL SERVICES)
      401 Old Colony Rd, Norton, MA 02766-2015
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    • Value Estimation by Request
      2,696 SF

      50 Main St, Unit 56

      RETAIL STORES (PERSONAL SERVICES)
      50 Main St, Norton, MA 02766-2713
      View Details
    • Value Estimation by Request
      1,920 SF

      86 Main St

      RETAIL STORES (PERSONAL SERVICES)
      86 Main St, Norton, MA 02766-2713
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      31,667 SF

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      Two buildings for sale with existing tenants and vacancy.
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      Retail Building with Event Space

      Well-maintained commercial building suitable for retail, restaurant, or event space.
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      Retail Property with Drive-Thru

      2,433 SF retail property with drive-thru, Route 140 visibility.
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    • $55,000
      1.42 Acres

      Land Near Norton Reservoir

      1.42-acre lot near Norton Reservoir, convenient commuter location.
      Brook Pkwy, Norton, MA 02766
      View Details
    • Contact for pricing
      3,000 SF

      Versatile Multi-Family Home in Norton

      Multi-family home with income potential in desirable Norton neighborhood.
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    Similar Nearby for Lease

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      Retail Space Available For Rent

      Retail property available for lease in Norton, Massachusetts.
      Norton, Norton, MA 02766
      View Details
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      2,000 SF

      Retail Endcap Unit For Lease

      Endcap retail unit in high-traffic area, convenient location.
      246 E Main St, Norton, MA 02766
      View Details
    • Contact for pricing
      4,300 SF

      Retail Space in Norton, MA

      Freestanding retail building with spaces available for immediate occupation.
      33 W Main St, Norton, MA 02766
      View Details
    • Contact for pricing

      Retail Building with Event Space

      Versatile retail building built in 2021 with ample parking.
      4 Olympia St, Norton, MA 02766
      View Details
    • Contact for pricing

      Retail Space in Greatwoods Marketplace

      Retail space for lease in Norton, Massachusetts.
      175 Mansfield Ave, Norton, MA 02766
      View Details
    • $3,000 /Mo
      4,816 SF

      Norton Commercial Retail Building

      Versatile retail building suitable for various business uses.
      4 Olympia St, Norton, MA 02766
      View Details
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    Norton, MA 02766-2714
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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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