Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    501 Washington St, Unit 507 Norwood, MA 02062-2201

    • Retail space
    • 3,308 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1798101
    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

    • Lucky Mart Inc. / Grocery & Convenience Store
    • CoinFlip Bitcoin ATM / Money Transfer Service / Atm

    Property Details for 501 Washington St

    Year built
    1965
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.18 lot acres
    Property size
    3,308 SF
    Property type
    Retail space
    APN
    NORW M:00001 B:00010 L:00009
    APU
    NORWM00001B00010L00009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $425,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $940,000
      6.5%
      $865,000
      7%
      $805,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $970,000
      Current use
      COMMERCIAL (GENERAL)
      $1,110,000
      Change: +14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,065,000
      Change: +10% Conversion: Difficult
      OFFICE BUILDING
      $970,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwood
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.1999
    Latitude
    42.1963
    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
    $15,976
    $376,700
    $291,200
    $667,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,305,000
      5,100 SF

      528 Washington St, Unit 534

      RETAIL STORES (PERSONAL SERVICES) • 5,100 SF
      528 Washington St, Norwood, MA 02062-2202
      View Details
    • Value Estimation
      $1,505,000
      7,216 SF

      1401 Boston Providence Tpke

      RETAIL STORES (PERSONAL SERVICES) • 7,216 SF
      1401 Boston Providence Tpke, Norwood, MA 02062-5053
      View Details
    • Value Estimation
      $565,000
      2,734 SF

      164 Walpole St, Unit 170

      RETAIL STORES (PERSONAL SERVICES) • 2,734 SF
      164 Walpole St, Norwood, MA 02062-3222
      View Details
    • Value Estimation
      $685,000
      4,136 SF

      1232 Washington St

      RETAIL STORES (PERSONAL SERVICES) • 4,136 SF
      1232 Washington St, Norwood, MA 02062-4006
      View Details
    • Value Estimation by Request
      22,175 SF

      1369 Providence Hwy

      Individual retail properties • 22,175 SF
      1369 Providence Hwy, Norwood, MA 02062
      View Details
    • Value Estimation by Request
      768 SF

      496 Washington St

      RETAIL STORES (PERSONAL SERVICES) • 768 SF
      496 Washington St, Norwood, MA 02062-2312
      View Details

    Similar Nearby for Sale

    • $2,449,000
      2,175 SF

      Freestanding Building on High-Visibility Location

      Freestanding commercial building on 0.79 acres with drive-in door.
      924 Boston Providence Tpke, Norwood, MA 02062
      View Details
    • $1,250,000
      Pending

      Versatile Commercial Building For Sale

      Commercial building suitable for multiple tenants, available for sale.
      594 Pleasant St, Norwood, MA 02062
      View Details
    • $2,500,000
      2,610 SF

      Norwood Auto Repair Investment Property

      Fully occupied auto repair facility near Route 1 Auto Mile.
      900 Pleasant St, Norwood, MA 02062
      View Details
    • $2,450,000
      7,000 SF

      Industrial/Automotive Building For Sale

      7,000 SF industrial/automotive building with multiple tenants.
      915 Pleasant St, Norwood, MA 02062
      View Details
    • Contact for pricing
      2,610 SF

      Norwood Auto Repair Facility For Sale

      2,610 SF auto repair facility on 0.96 acres.
      900 Pleasant St, Norwood, MA 02062
      View Details
    • Contact for pricing

      Route 1 Development Opportunity

      Prime commercial property on Route 1 in Norwood, Massachusetts.
      885-905 Boston Providence Tpke, Norwood, MA 02062
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      1,886 SF

      Versatile Retail Space in Norwood

      1,886 SF retail space with premium finishes and parking.
      650 Washington St, Norwood, MA 02062
      View Details
    • $25 SF/Yr
      6,258 SF

      Norwood Two-Story Building For Rent

      Two-story building in downtown Norwood with ample parking.
      157 Central St, Norwood, MA 02062
      View Details
    • Contact for pricing
      22,377 SF

      Route One Retail Space Available

      High-traffic location with ample parking and clear span space.
      911 Boston Providence Tpke, Norwood, MA 02062
      View Details
    • $2,000 /Mo
      1,500 SF

      Retail Space Available For Rent

      Retail space for rent, 1500 square feet.
      1275 Boston Providence Tpke, Norwood, MA 02062
      View Details
    • Contact for pricing
      1,920 SF

      Norwood Center Retail/Office Space

      Direct entry retail or office space in Norwood center.
      32-34 Day St, Norwood, MA 02062
      View Details
    • Contact for pricing

      Retail Space in Norwood, MA

      Retail space available in Norwood, Massachusetts.
      954 Providence Hwy, Norwood, MA 02062
      View Details

    Property Visit Statistics

    • Visits by month
      11.5k
    • Visitors by month
      6.8k
    • Avg Time on site
      5 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    501 Washington St, Unit 507
    Norwood, MA 02062-2201
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!