Randolph, MA Commercial Real Estate for Sale and Lease

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What to Expect

Situated about 15 miles south of Boston, this Norfolk County city's population was around 32,200 at the time of the 2010 U.S. Census. Commercial properties here vary widely in terms of price, size, design and other attributes. Office, industrial and retail space is readily available.

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With a population of 32,158, this town is located only 15 miles away from Boston in Norfolk County, and offers 10.1 square miles of land for creative development and redevelopment. Investors will delight in the area’s easy accessibility and natural scenery; located at the junction of Route 24 and Route 128, the town is also close to the Cochato River, and offers lush, thriving landscapes and charming historic streets.

Public green spaces and recreation areas include the Lokitis Conservation Area, Linwood Memorial Park, access to the South Street Conservation Area, and the banks of the Great Pond and the Ponkapoag Pond. In addition to being accessible by car via Route 24, Route 128, Route 139, Route 1 and Interstate 93, the town is also home to an MBTA Commuter Rail stop on the Holbrook/Randolph station. The Massachusetts Bay Transportation Authority and Brockton Area Transit Authority provides bus and shuttle service throughout the area, while those who wish to travel by air have the option of flying into Norwood Memorial Airport, which has two runways for a non-precision instrument approach. Logan International Airport is also very close to the town, and can be reached via subway service.

Because of its proximity to Boston and its relative low density for the area, the city is rapidly becoming a hotbed of development. Commercial lots occasionally become available for sale, such as the property at 19 Highland Avenue. With 5.67 acres, this parcel is located near the center of the town near Route 139. With a commercial zoning, this parcel has been conceptualized as a new potential residential project. This price for this property has not been made publicly available. Meanwhile, the commercially zoned lot at 1201 North Main Street is only 0.5 miles from Interstate 93, and offers an exceptional opportunity for a far-sighted investor. With a fairly flexible zoning, including the option to use the existing structures or build to suit, the 0.68 acre parcel is located close to the hub and downtown and only a few minutes away from Great Pond. The rent for this property has not been released.

The 2.00 acre lot at 502 South Main Street is another tremendous opportunity for the right investor. Located off Route 28, only 1.3 miles from the MBTA Commuter Rail station, and within 20 miles of Logan International airport, this property has the potential to be a transformative, profitable buy. With street frontage, a relatively even topography, and an industrial zoning, the sale price for this parcel is $800,000.

Office Space Market

From low-slung retrofitted structures to brand new, multi-story developments with LEED certification, the office space market in this town is affordable and adaptable to a variety of tenant needs. The brick structure at 4 Frank Leary Way offers spacious medical offices within close proximity of the town’s central business district, and only a few minutes from Route 28. Built in 1970, the structure has four units in total, with a current availability of 1,266 square feet of rentable area, and includes a shared print/copy room, carpeting in all units, and kitchen facilities. The estimated rent for this structure is $1.38 per square foot per month.

The 30,000 square foot multi-story structure at 50 Thomas Patten Drive has a calming brick exterior with beautifully glazed banks of mullioned windows, and a canopied entrance with lush landscaped grounds. Built in 1977, this property is near the intersection of Route 139 and Route 24 in a semi-forested area, and has several shared amenities, including an onsite food court. The estimated rent for this property is $1.41 a square foot per month.

The prominent angular concrete and glass ribbon-style windows on the office complex at 1 Credit Union Way provide excellent visibility and a clean, modern style. Built in 1987, this 51,722 square foot building has several units for lease in a fairly dense area of town that is also easily accessed by Route 28. Pre-existing cubicles and furnishings can be included or removed depending on the desires of the tenant; numerous onsite conference rooms are also accessible. The estimated rent for this property is $1.33 per square foot per month.

Those seeking a more creative mix of office space will delight in the 13,176 square foot structure at 500 North Main Street. With a loft option, this stately multi-gabled structure features gorgeous woodwork and an expansive interior atrium space. Built in 1878, the estimated rent for this building ranges from $0.94 to $2.00 a square foot per month.

Retail Space Market

Befitting its status as a town on the brink of considerable expansion, the retail spaces in this city come in several different configurations at a price that most investors would consider to be quite reasonable. The two story structure at 875 North Main Street combines a prominent heavily trafficked location with an adaptable interior and onsite parking. With storefront retail as well as residential options available, the 2,200 square feet in this building can be divided to serve many different needs. Built in 1938, the sale price for this structure is $269,000.

The modern aesthetics of the retail complex at 336-340 North Street offer investors large storefront windows in an excellent location that is frequented by cross traffic from other nearby retail properties. Built in 1956, this 18,579 square foot structure has a variety of different sized units for lease, ranging from 1,200 square feet to 4,356 square feet. The estimated rent for this property has not been publicly disclosed.

Built in 1995, the 61,021 square foot property at 45-60 Mazzeo Drive has a bright, modern exterior and ample, naturally lit interiors off a busy highway. The onsite parking lot, combined with a prominent clock tower, make this complex both convenient and memorable. The estimated rent for this general retail property is $1.25 a square foot per month. Meanwhile, the two story storefront retail in the shaker style building at 2-24 Mazzeo Drive offers 28,754 square feet of gross leasable area immediately off Route 139. With a range of different sized suites, the units in this building can also be used as offices. The estimated rent for this property, which includes onsite parking, is $1.00 to $1.46 per square foot per month.

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