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    661 Pleasant St, Unit 200 Norwood, MA 02062
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    Property profile & analytics

    661 Pleasant St, Unit 200 Norwood, MA 02062

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    • Manufacturing properties
    • 47,346 SF
    • 3.51 lot acres
    For Lease
    $8 SF/Yr
    View Listing →
    Norwood Office Space For Lease For Lease
    $8 SF/Yr
    2,258 SF

    Norwood Office Space For Lease

    Affordable 2,258 SF second-floor office space available for lease.

    661 Pleasant St #200, Norwood, MA 2062
    View Listing
    Property ID
    US38-2256589
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Corporate IT Solutions / (Bike/Boat/Book/etc) Store / Corporate Office
    • Joust Beach Volleyball / Gym & Fitness Center
    • Iron Lion Muay Thai & Boxing / Training Center / Sports School
    • Fulfilled Life Church / Church
    • National Sleep & Respiratory / Medical Supply Store

    Property Details for 661 Pleasant St

    Year built
    1996
    Construction
    STEEL FRAME
    Lot size
    3.51 lot acres
    Property size
    47,346 SF
    Property type
    Manufacturing properties
    APN
    NORW M:00009 B:0010C L:0023A
    APU
    NORWM00009B0010CL0023A

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,395,000
      6.5%
      $7,750,000
      7%
      $7,195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,807,000
      Market price range: $4.87M - $10.5M
      AI Estimate
      $4,283,000
      Market price range: $1.88M - $9.36M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $7,760,000
      Current use
      WAREHOUSE, STORAGE
      $8,185,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwood
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.2018
    Latitude
    42.1743
    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
    $105,784
    $931,100
    $3,491,300
    $4,422,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,225,000
      36,950 SF

      700 Pleasant St

      MANUFACTURING (LIGHT) • 36,950 SF
      700 Pleasant St, Norwood, MA 02062-4632
      View Details
    • Value Estimation
      $9,210,000
      105,780 SF

      535 University Ave

      MANUFACTURING (LIGHT) • 105,780 SF
      535 University Ave, Norwood, MA 02062
      View Details
    • Value Estimation
      $4,520,000
      52,067 SF

      190 Vanderbilt Ave, Unit 196

      MANUFACTURING (LIGHT) • 52,067 SF
      190 Vanderbilt Ave, Norwood, MA 02062-5025
      View Details
    • Value Estimation
      $3,190,000
      8,296 SF

      159 Morse St

      MANUFACTURING (LIGHT) • 8,296 SF
      159 Morse St, Norwood, MA 02062-4600
      View Details
    • Value Estimation
      $3,695,000
      45,200 SF

      77 Davis Ave

      MANUFACTURING (LIGHT) • 45,200 SF
      77 Davis Ave, Norwood, MA 02062-3077
      View Details
    • Value Estimation
      $730,000
      6,262 SF

      922 Pleasant St

      MANUFACTURING (LIGHT) • 6,262 SF
      922 Pleasant St, Norwood, MA 02062-4610
      View Details

    Similar Nearby for Sale

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      13,847 SF

      Norwood Industrial/Automotive Opportunity

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      Versatile Commercial Building For Sale

      Commercial building suitable for multiple tenants, available for sale.
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      Industrial/Automotive Building For Sale

      7,000 SF industrial/automotive building with high ceilings and ample parking.
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      Freestanding Building on High-Visibility Location

      Freestanding commercial building on 0.79 acres with drive-in door.
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      Industrial/Automotive Building For Sale

      7,000 SF industrial/automotive building with multiple tenants.
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    Similar Nearby for Lease

    • Contact for pricing

      Norwood Industrial Flex Space Available

      Flexible industrial space with office and warehouse areas for rent.
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      4,374 SF

      Versatile Industrial Space Available

      Flexible industrial space with office and warehouse areas for rent.
      273 Lenox St, Norwood, MA 02062
      View Details
    • Contact for pricing
      30,000 SF

      Norwood Warehouse and Distribution Space

      30,000 SF warehouse/distribution space in Route 128 area.
      249 Oceana Way, Norwood, MA 02062
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    • $13 SF/Yr
      3,000 SF

      Norwood Warehouse Space Available

      3,000 square foot warehouse space for lease in Norwood.
      586 Pleasant St, Norwood, MA 02062
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    • $15 SF/Yr

      Norwood Flex/Office/Medical Suites Available

      Flex/office/medical suites available, ranging from 1,802 to 14,288 SF.
      100 Morse St, Norwood, MA 02062
      View Details
    • Contact for pricing
      98,913 SF

      Industrial Space with Yard

      98,913 SF available with yard and trailer parking.
      625 University Ave, Norwood, MA 02062
      View Details
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    Norwood, MA 02062
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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.

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