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    Property profile & analytics

    61 Leona Dr Middleboro, MA 02346-1404

    • Manufacturing properties
    • 149,089 SF
    • 22.71 lot acres
    OFF-MARKET
    Last Sale
    Apr 20, 2021
    $26,000,000
    Value Estimations
    $25,630,000
    Show details
    Cap Rate Potential
    6.1%
    Manufacturing properties
    Location Intelligence
    Property ID
    US38-1037954
    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

    • Manufacturing properties

    Property Details for 61 Leona Dr

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    22.71 lot acres
    Property size
    149,089 SF
    Property type
    Manufacturing properties
    APN
    MIDD M:00038 L:3156 U:0000
    APU
    MIDDM00038L3156U0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $26,115,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $26,430,000
      6.5%
      $24,400,000
      7%
      $22,655,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $34,666,000
      Market price range: $13.6M - $63.8M
      AI Estimate
      $16,972,000
      Market price range: $3.94M - $28.7M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $33,850,000
      Current use
      RESTAURANT
      $39,305,000
      Change: +16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $30,825,000
      Change: -9% Conversion: Easy
      OFFICE BUILDING
      $30,115,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Middleboro
    County
    Plymouth
    State
    Massachusetts
    Longitude
    -70.9673
    Latitude
    41.9082
    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
    $151,200
    $2,319,200
    $8,217,400
    $10,536,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,030,000
      60,795 SF

      18 Cowan Dr

      MANUFACTURING (LIGHT) • 60,795 SF
      18 Cowan Dr, Middleboro, MA 02346-3703
      View Details
    • Value Estimation
      $7,820,000
      55,259 SF

      9 Abbey Ln

      MANUFACTURING (LIGHT) • 55,259 SF
      9 Abbey Ln, Middleboro, MA 02346
      View Details
    • Value Estimation
      $2,805,000
      26,197 SF

      35 Harding St

      MANUFACTURING (LIGHT) • 26,197 SF
      35 Harding St, Middleboro, MA 02346-1013
      View Details
    • Value Estimation
      $2,010,000
      12,000 SF

      467 Wareham St

      MANUFACTURING (LIGHT) • 12,000 SF
      467 Wareham St, Middleboro, MA 02346-3421
      View Details
    • Value Estimation
      $4,485,000
      50,013 SF

      35 Main St

      MANUFACTURING (LIGHT) • 50,013 SF
      35 Main St, Middleboro, MA 02346-2405
      View Details
    • Value Estimation
      $5,800,000
      65,214 SF

      15 Sumner Ave

      MANUFACTURING (LIGHT) • 65,214 SF
      15 Sumner Ave, Middleboro, MA 02346-1520
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,400 SF

      Flex/Industrial Space For Sale

      9,400 SF Flex/Industrial property on 1.37 Acres.
      23 Harding St, Middleborough, MA 02346
      View Details
    • Contact for pricing

      26,000 SF Flex/Industrial Sublease

      Flex/industrial space for sublease, convenient location, established industrial park.
      48 Leona Dr, Middleboro, MA 02346
      View Details
    • $650,000
      46.90 Acres

      Middleboro Land with Development Potential

      46.9 acres of land suitable for farming or development.
      441 Wareham St, Middleboro, MA 02346
      View Details
    • $275,000
      3.77 Acres

      Middleboro Land with Business Potential

      3.77-acre lot suitable for residential and small business use.
      386 Wareham St, Middleboro, MA 02346
      View Details
    • $120,000
      1.42 Acres

      Middleboro Land For Sale

      Residential land in Middleboro, near highways and transportation.
      218 Old Center St, Middleboro, MA 02346
      View Details
    • $1,190,000
      15.20 Acres

      Middleboro Land with Development Potential

      15.2 acres with single-family home near Route 495.
      425 A Wareham St, Middleboro, MA 02346
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      257,040 SF

      Middleborough Warehouse Space Available

      257,040 square foot warehouse space for lease in Middleborough.
      Middleborough Ma Usa, Middleborough, MA 02346
      View Details
    • Contact for pricing
      192,500 SF

      Middleborough Warehouse Space Available

      192,500 sq ft warehouse/industrial space for lease.
      1 Cowan Dr, Middleborough, MA 02346
      View Details
    • Contact for pricing

      Middleborough Park Medical/Office Space

      Flexible medical/office or R&D space in growing commercial area.
      16 Commerce Blvd, Middleborough, MA 02346
      View Details
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    61 Leona Dr
    Middleboro, MA 02346-1404
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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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