Auto Sales Property For
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447 Center St, Ludlow, MA
1449 SF auto sales property with mechanic lifts.
Property Size1,449 SF
Lot Size0.28 Acres
Price / SF$310.49
Days on Market755
Property Features for 447 Center St
General Information
Standard status
Active
Size
1,449 SF
Lot size
0.28 Acres
Property subtype
RETAIL
Listing Agency:
RJ Greeley Company
(413) 734-7923
Listed By:
Brendan Greeley
(413) 478-1005
Source:
Moodyscre
Added: Aug 22, 2024
Changed: Sep 4
Last Checked: Sep 15 at 8:33AM
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 RJ Greeley Company
Investment Insights
Based on property information with market context.
Located on Center Street in Ludlow, MA, this property is currently occupied by Ludlow Auto Sales. It features approximately 1,449 square feet of office space and a garage equipped with two auto mechanic lifts. The property includes a Class II used car dealer license, permitting the purchase and sale of up to 25 second-hand motor vehicles. Situated along a heavily trafficked street, the location benefits from high visibility, with approximately 15,000 vehicles passing daily. The property also offers convenient access to the Massachusetts Turnpike.
Key Highlights
- High visibility location with 15,000+ vehicles passing daily.
- Class II used car dealer license included (up to 25 vehicles).
- Garage equipped with two auto mechanic lifts.
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
$23,808
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
5.29%
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%
$476,160
$476.2K
Cap Rate 7%
$340,114
$340.1K
Cap Rate 9%
$264,533
$264.5K
Market Conditions
NOI Build-Up for 1,449 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
$34.8K $24.00/SF
− Vacancy
−$765 −$0.53/SF
EGI
$34.0K $23.47/SF
− OpEx
−$10.2K −$7.04/SF
NOI
$23.8K $16.43/SF
Area
Hampden County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$476,160
Cap Rate 7%
$340,114
Cap Rate 9%
$264,533
Alternative Uses
Best Use
Retail
$340.1K
$297.6K – $396.8K
NOI $23,808 @ 7.0% cap · market cap 5.29%
Second Best
Industrial
$110.6K
$96.7K – $129.0K
NOI $7,739 @ 7.0% cap · market cap 1.72%
Theoretical Best
Office A
$893.0K
$781.4K – $1.04M
NOI $62,513 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 22%
Hotels & Casinos 4%
Taco Bell
Dining
13,068 visits/mo
0.3 miles
Burger King
Dining
12,795 visits/mo
0.2 miles
Shell
Shops & Services
6,363 visits/mo
0.5 miles
Holiday Inn Express Ludlow - Chicopee Area
Hotels & Casinos
1,369 visits/mo
0.3 miles
KeyBank
Shops & Services
1,188 visits/mo
0.3 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Automotive property - 1449 SF auto sales property with mechanic lifts.
Where is this automotive property located?
The property is located at 447 Center St Ludlow, MA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: High visibility location with 15,000+ vehicles passing daily.; Class II used car dealer license included (up to 25 vehicles).; Garage equipped with two auto mechanic lifts.
