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Norfolk 02054
1480 Main Street
$3,650,000
● Land - Off Market

1480 Main Street

Millis, MA 02054
bedrooms
Studio
bathrooms
0 Bath
$21,304
Est. Monthly

About This Property

Industrial Development site located on route 109 and centrally located just minutes to routes 495 & 115. This parcel is zoned Industrial (IP-2) with over 400 feet of frontage and 13+ contiguous acres of upland. Lot is APPROVED for a 74,000 sqft building. Engineering & permitting has been completed. Possible room to go up to +-100,000sqft with Town approval. This property offers access to Town water, town sewer, natural gas and phase 3 electric. Located just 40 minutes to Boston and 45 minutes to Providence. With a traffic count of 15,000+/- this property has many opportunities.
Unit Size
-
Days on Market
-
Land Size
37.00 acres
Price per sqft
-
Property Type
Land
Property Taxes
$1,663
HOA Dues
-
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 4 months ago (MLSPIN #73087114)

Price History

Date / Event Date Event Price
Mar 21, 2024 Sold
Premium
Sold
May 17, 2023 In contract -
In contract
Mar 13, 2023 Listed by Century 21 Realty Network $4,000,000
Listed by Century 21 Realty Network
Dec 3, 2021 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 62,726
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: V
  • Land Acres: 0000001440
  • Standard Land Use Code: 8003
  • County Land Use Code: 440

Neighborhood

  • School District Name: Millis School District
  • School Tax School District: MILLIS SD
  • Census Tract: 407102

Geography

  • Parcel: MILL M:021 B:0000028
  • Block: 28
  • Municipality: MILLIS
  • Latitude: 42.1581
  • Longitude: -71.3835

    Address

  • Full Address: 1480 Main St
  • Address - House Number: 1480
  • Address - Street Name: Main
  • Address - Suffix Type: St
  • State: MA
  • City Name: Millis
  • Carrier Code: R007
  • 4-Digit Zip Code: 1405
  • Zip Code: 02054

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $270,300

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $164,600
  • Assessed Land Value: $164,600

    Sales

  • Current Sale Contract Date: Mar 20, 2024
  • Current Sale Recording Date: Mar 21, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 16227
  • Previous Sale Recording Date: Dec 03, 2021
  • Previous Sale Contract Date: Nov 30, 2021
  • Previous Sale Amount: $2,300,000
  • Previous Sale Document Type: O
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Norfolk

Stats & Trends

Median Asking:

$750,000

Sale Price/ft²

$430

Below Asking

0.01%

Average Days on Market

55

Average Home Size

2622 ft²

Average Home Age

59.6 years

Currently For Sale

1323 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73087114

Frequently Asked Questions

When was property at 1480 Main Street built and last sold?
The property at 1480 Main Street was built in and last sold on Mar 20, 2024 for $3,650,000.
How much is this home worth?
The estimated value of the home located at 1480 Main Street is $4,040,000.
What are some comparable homes to 1480 Main Street?
There are currently no comparable homes to 1480 Main Street.
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