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

    591 Washington St Whitman, MA 02382-1337

    • Investment properties
    • 21,320 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Apr 22, 2025
    $375,000
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0501768
    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

    • Investment properties

    Property Details for 591 Washington St

    Year built
    1880
    Construction
    FRAME
    Lot size
    0.50 lot acres
    Property size
    21,320 SF
    Zone code
    GB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WHIT M:0004 B:0048 L:5
    APU
    WHITM0004B0048L5

    Description

    The Jenkins Block, a prominent Whitman, MA landmark, presents a unique retail opportunity. This two-story, 21,320 square foot building, constructed in 1890 and extensively renovated in 2018, boasts a prime location at 591 Washington St, 02382. Currently, one street-level retail space of 2,150 square feet is available for lease within this multi-tenant property. The building is zoned for General Business use, offering excellent visibility and high foot traffic in Whitman's town center. Its convenient location provides easy access to the MBTA Commuter Rail and Route 27, a major east-west artery. The property's rich history and recent modernization combine to create a compelling opportunity for businesses seeking a high-profile location in a thriving community. The building's classic architecture and modern amenities offer a unique blend of character and functionality. Plymouth County location ensures access to a strong regional market. This is an exceptional chance to establish a presence in a well-established and easily accessible commercial area. The available space is ready for immediate occupancy, offering a turnkey solution for businesses seeking a vibrant and visible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $340,000
      ML approach
      $760,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Whitman
    County
    Plymouth
    State
    Massachusetts
    Longitude
    -70.9371
    Latitude
    42.0811
    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
    $20,871
    $192,100
    $1,446,100
    $1,638,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $345,000
      15.01 Acres

      457 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 15.01 Acres
      457 Franklin St, Whitman, MA 02382-2533
      View Details
    • Value Estimation
      $315,000
      7,833 SF

      42 Temple St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,833 SF
      42 Temple St, Whitman, MA 02382-1324
      View Details
    • Value Estimation
      $335,000
      13.20 Acres

      50 Washington St

      OFFICE/RESIDENTIAL (MIXED USE) • 13.20 Acres
      50 Washington St, Whitman, MA 02382-2329
      View Details
    • Value Estimation
      $260,000
      3,480 SF

      31 Ss Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,480 SF
      31 Ss Ave, Whitman, MA 02382-2190
      View Details
    • Value Estimation
      $280,000
      0.25 Acres

      355 Ss Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.25 Acres
      355 Ss Ave, Whitman, MA 02382-2033
      View Details
    • Value Estimation
      $265,000
      1,824 SF

      814 Bedford St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,824 SF
      814 Bedford St, Whitman, MA 02382-1104
      View Details

    Similar Nearby for Sale

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      Free-standing commercial building with high visibility near Whitman Commuter Rail.
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      Temple Street Multifamily Investment Opportunity

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    • $699,900

      Updated Duplex in Whitman Center

      Updated duplex near Whitman center, convenient to shops and transit.
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      Well-maintained office building on Route 18 with high visibility.
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    Similar Nearby for Lease

    • Contact for pricing
      27,120 SF

      Visible Retail Space for Lease

      Highly visible retail space serving Whitman and surrounding communities.
      682 Bedford St, Whitman, MA 02382
      View Details
    • $1,841 /Mo
      488 SF

      Renovated Office/Retail Building on Route

      488 SF renovated building with high exposure and parking.
      287 Temple St, Whitman, MA 02382
      View Details
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    591 Washington St
    Whitman, MA 02382-1337
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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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