Building Details

Building Size 45,000 SF

Year Built 2022

Buildings 1

Stories 2

Listing Agency: Kelleher & Sadowsky

Listed By: Drew Higgins · License #9515069 Show Phone

Source: Kelleher-sadowsky

Added: Aug 20 Changed: Oct 1 Last Checked: Oct 5 at 3:15PM

Report an Issue

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 Kelleher & Sadowsky

Investment Insights

Based on property information with market context.

Built in 2022, this two-story flex facility at 114 Lancaster Road combines industrial, flex, and retail-oriented space within a substantial commercial improvement. The building contains approximately 45,000 square feet and occupies approximately 4.85 acres in Shirley, Massachusetts.

The property is positioned within Shirley’s commercial corridor, providing a versatile configuration for businesses seeking a combination of operational, showroom, or customer-facing space. Its scale, two-story layout, and mixed commercial functionality distinguish it from a conventional single-purpose building.

Key Highlights

• Approximately 45,000 square feet of building area
• Approximately 4.85 acres
• Two‑story facility

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$646,777

Cap Rate

7.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$12,935,540 $12.9M

Cap Rate 7%

$9,239,671 $9.2M

Cap Rate 9%

$7,186,411 $7.2M

Market Conditions

NOI Build-Up for 45,000 SF

Gross rent

$988.2K $21.96/SF

− Vacancy

−$64.2K −$1.43/SF

EGI

$924.0K $20.53/SF

− OpEx

−$277.2K −$6.16/SF

NOI

$646.8K $14.37/SF

Area

Middlesex County, MA

Vacancy

6.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$12,935,540

Cap Rate 7%

$9,239,671

Cap Rate 9%

$7,186,411

Alternative Uses

Best Use

Retail

$9.24M

$8.08M – $10.78M (±1% cap)

NOI $646,777 @ 7.0% cap · market cap 7.77%

Second Best

Industrial

$6.84M

$5.98M – $7.98M (±1% cap)

NOI $478,661 @ 7.0% cap · market cap 5.75%

Theoretical Best

Office A

$26.64M

$23.31M – $31.08M (±1% cap)

NOI $1,864,788 @ 7.0% cap · market cap 22.40%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

BoomX Cannabis Co (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Building Supply Restaurant Plumbing Service Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

37

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 01464, MA

7,427

Population

2,512

Households

3

Avg Household Size

43

Median Age

36%

College-Educated

90%

High-School Grad

15.1 sq mi

ZIP Area

492

Density / Sq Mi

$121,875

Median Household Income

$73,721

Median Earnings

$1,189

Median Rent

$412,700

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Flex Office Suite

2 Shaker Rd Unit B001, Shirley, MA 01464

Contact for pricing

3,103 SF

View details

Four-Unit Multifamily Quadplex

49-53 Fredonian, Shirley, MA 01464

$689,999

2,978 SF

View details

Frequently Asked Questions

What type of property is this?

Flex space - Newly constructed commercial property combining industrial, flex, and retail-oriented space.

Where is this flex space located?

The property is located at 114 Lancaster Road Shirley, MA.

What is the asking price?

The asking price for this property is $8,325,000.

What are key features of this property?

This property features: Approximately 45,000 square feet of building area; Approximately 4.85 acres; Two‑story facility