Leominster Multifamily Property For
For Sale
$499,000
10 Green St, Leominster, MA 01453
Well-maintained multifamily property with expansion possibilities in a growing market.
Property Size1,854 SF
Lot Size0.22 Acres
Price / SF$269.15
Days on Market153
Property Features for 10 Green St
General Information
Standard status
Active
Size
1,854 SF
Total Parking Spaces
8
Lot size
0.22 Acres
Property subtype
Multi-Family
Zoning
I
Taxes and HOA fees
Annual Taxes
$5,633
Building Details
Building Size
1,854 SF
Year Built
1900
Stories
2
Listing Agency:
Coldwell Banker Realty - Concord
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 14
Changed: Sep 12
Last Checked: Sep 13 at 6:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Concord
Investment Insights
Based on property information with market context.
Located at 10 Green St in Leominster, this multifamily property presents an opportunity for investors and owner-occupants. Constructed in 1900, the property includes approximately 1,854 sq ft of living space, featuring 3 bedrooms and 2 full bathrooms, suitable for rental income or multigenerational living. The property is situated on a spacious lot exceeding 9,600 sq ft, offering outdoor space that allows for expansion, parking, or general outdoor use. The location provides convenient access to downtown Leominster, shopping, restaurants, public transportation, and major commuter routes, which supports long-term rental demand and accessibility.
Key Highlights
- Large 9,600+ sq ft lot offers expansion possibilities, parking, or outdoor enjoyment.
- Excellent location near downtown Leominster, shopping, restaurants, public transportation, and major commuter routes.
- Multi‑family property suitable for investors or owner‑occupants.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,810
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$436,200
$436.2K
Cap Rate 7%
$311,571
$311.6K
Cap Rate 9%
$242,333
$242.3K
Market Conditions
NOI Build-Up for 1,854 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.7K $21.96/SF
− Vacancy
−$1.1K −$0.57/SF
EGI
$39.7K $21.39/SF
− OpEx
−$17.8K −$9.63/SF
NOI
$21.8K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$436,200
Cap Rate 7%
$311,571
Cap Rate 9%
$242,333
Alternative Uses
Best Use
Apartment 5plus
$311.6K
$272.6K – $363.5K
NOI $21,810 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$633.1K
$554.0K – $738.6K
NOI $44,318 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Well-maintained multifamily property with expansion possibilities in a growing market.
Where is this multifamily property located?
The property is located at 10 Green St Leominster, MA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Large 9,600+ sq ft lot offers expansion possibilities, parking, or outdoor enjoyment.; Excellent location near downtown Leominster, shopping, restaurants, public transportation, and major commuter routes.; Multi‑family property suitable for investors or owner‑occupants.
