Norfolk, MA Commercial Real Estate for Sale and Lease

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What to Expect

With a population of around 11,200 as of 2010, this bustling Norfolk County town, which is about 32 miles southwest of Boston, is large enough to have fairly eclectic commercial real estate offerings. Throughout town, you'll find everything from retail space to industrial space, and office space is in ample supply too.

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With 11,227 people living on 14.8 square miles of land, this town in Norfolk County, Massachusetts is located only 32 miles from Boston, and has numerous acres of flat land perfect for development. Because of its easy topography and accessibility, the area has attracted a number of large-scale projects that require a great deal of acreage and onsite infrastructure, such as parking and fencing. Investors should be aware that the community is tight-knit and works to provide excellent safety and education for its residents.

The area has several natural sites that function as public green space, including the Bristol Blake State Reservoir, Campbell Forest, the Grove Street Area, the Apple Saint Forest, City Mills Pond, the William A. Rice Recreation Area, and Comey’s Pond. The city limits are bordered by Populatic Pond and the Charles River. The Norfolk Arena provides an additional area for recreation, with ice skating, hockey, and other winter sports.

In terms of transportation, the area is accessible by car by Route 115 and Route 1A. The MBTA Commuter Rail line has a station in town via the Franklin line. In the past, the town has a small airport known as the Norfolk Airpark, although the airport is currently closed. Developers who would like to invest in building new infrastructure may find the ideal opportunity in this closed airport, although the fate of the facility is still under debate within the city.

The area has a number of tracts of undeveloped land that have been coming to market. The parcel at 7 Shire Drive is located off Route 1A near the William A. Rice Recreation Area. This 1.30 acre parcel comes with pre-approved building plans from the Building Department, which are open to potential modifications by the new owner. The area is currently zoned for industrial usage, and has a sale list price of $299,000.

Meanwhile, the parcel at 90 Pond Street is located off Route 115 on what is currently a lushly forested plot. The area has been zoned for commercial or industrial uses, making it ideal for a mixed use development. Located 2.2 miles from the MBTA Commuter Rail line, the lot is perfect for a dynamic investor. The sale list price for this property is $800,000.

For those investors interested in residential development, a 140 acre parcel is available at 17 Lawrence Street. Located in a scenic area near the Apple Saint Forest, this parcel includes a pond and numerous other wetland features that make it attractive for a large residential complex. The property can be accessed relatively quickly from Route 1A, and is 2.9 miles from the MBTA Commuter Rail line. The sale list price for this property is $1,750,000. Meanwhile, the parcel at Shire Park is composed of three separate lots that total 3.01 acres in size. Located off Route 1A, the first lot is 0.90 acres in size, and has a sale list price of $195,000. The second lot is 1.29 acres in size, and has a sale list price of $195,000. The third lot is 0.82 acres in size, and has a sale list price of $195,000. These three lots are considered to be an excellent investment opportunity.

For those who want to develop an office project within this city, the parcel at 102 Pond Street is ideal. With 0.71 acres located directly off Route 115, the property would need to be permitted by the buyer. The site currently allows a building size of up to 40% of the lot area, and is a superb locale for a office complex or warehouse. The sale list price for this property is $219,000.

Office Space Market

The modest urban density of the area makes freestanding office complexes in forested regions in this town quite common. The property at 111 Dedham Street offers a sophisticated urban office campus in the middle of 86 acres of thickly forested grove just off Route 1A. With five stories of vibrant red brick, the complex features beautiful period design details from its original built date of 1969. An elaborate arched white canopy provides covered entry to a two story structure with enormous windows on the ground floor, while behind this structure the five story red brick tower thrusts itself into the sky. Onsite parking is arranged in a serpentine fashion around the main complex, with landscaped shrubbery and lawns providing tamed green space directly around the perimeter of the building. With 211,000 square feet of leasable space, the space is suited for medical offices. However, the property has been listed as a development opportunity, making it perfect for a savvy investor who wishes to upgrade or transform this remarkable property into something even more. The sale list price for this property has not been disclosed.

For those developers who love transforming industrial spaces into innovative office spaces, the property at 4 Philips Way offers a marvelous opportunity. Located off Route 1A, the 25,000 square foot structure is a warehouse with a signature atrium entryway leading to a brick structure with two floors. The minimum divisible space for this structure is 5,000 square feet, and suites of 20,000 square feet are available. Built in 2017, the structure is open to specific tenant customization, and features four dock high loading doors. The rent for this property has not been disclosed.

Retail Space Market

Many of the available retail spaces in the current market are located in multi-story complexes surrounded by forest. This is certainly the case with the property at 65 Holbrook Street, with is located directly off Route 115, and features 18,625 square feet of leasable space in a two story complex that features numerous discrete spaces next to an ample parking lot. Ground floor retail features a colonnade with display windows, while the second story features top tier facilities with carpeted floors, steel elevators, and gorgeous hanging light fixtures in the stairwell. The second story is perfect for offices of varying configurations. Kitchenettes with cabinets and stainless steel sinks are available, and the bathrooms feature granite countertops. Known as “The Village at River’s Edge,” the complex offers excellent retail space ranging from 467 square feet to 1,183 square feet. Built in 2015, the estimated rent for this property is $0.98 to $1.17 a square foot per month.

Meanwhile, the property at 269-271 Dedham Street has a warehouse-like appearance, with a sloped roof and a large ground floor with display windows. Surrounded by a parking lot, the 7,320 square foot structure is currently set up to be an auto repair shop. It possesses several loading bays and a gravel exterior storage area for vehicles and other large equipment. The interior has high ceilings and steel structures for storage of pallets and other heavy materials. Built in 1977, the property has been well-maintained and is a single-tenancy space on a lot size of 6.60 acres. The estimated rent for this space has not been disclosed.

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Commercial Property List