Listing Agency: Capital Group Properties Show Phone

Listed By: Brendan Carroll Show Phone

Source: Moodyscre

Added: Nov 4, 2022 Changed: Oct 25 Last Checked: Oct 28 at 10:31AM

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Investment Insights

Based on property information with market context.

Located in Airport Industrial Park, this commercial and light industrial building is part of an 18-acre development. The development will consist of 20 commercial and light industrial buildings, with sizes ranging from 5,000 to 20,000 square feet. This Class A construction offers build-to-suit options. The property provides convenient access to Route 20 and I-495. The available space is 5,040 square feet and is intended for flex space, industrial, and warehouse use.

Key Highlights

• Brand new Class A construction
• Convenient access to Route 20 & I‑495
• Build to Suite options available

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$87,933

Cap Rate

6.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,758,660 $1.8M

Cap Rate 7%

$1,256,186 $1.3M

Cap Rate 9%

$977,033 $977.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,040 SF

Gross rent

$145.2K $28.80/SF

− Vacancy

−$9.9K −$1.96/SF

EGI

$135.3K $26.84/SF

− OpEx

−$47.3K −$9.39/SF

NOI

$87.9K $17.45/SF

Area

Essex County, MA

Vacancy

6.80%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,758,660

Cap Rate 7%

$1,256,186

Cap Rate 9%

$977,033

Alternative Uses

Best Use

Flex RnD

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $87,933 @ 7.0% cap · market cap 6.24%

Second Best

Warehouse

$930.0K

$813.7K – $1.08M (±1% cap)

NOI $65,098 @ 7.0% cap · market cap 4.62%

Theoretical Best

Office A

$2.98M

$2.61M – $3.48M (±1% cap)

NOI $208,856 @ 7.0% cap · market cap 14.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Location Intelligence

Trade Area within ½ mile

323

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

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

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Frequently Asked Questions

What type of property is this?

Flex space - Commercial/light industrial building in Airport Industrial Park, Marlboro, MA.

Where is this flex space located?

The property is located at 49 Airport Blvd Georgetown, MA.

What is the asking price?

The asking price for this property is $1,409,000.

What are key features of this property?

This property features: Brand new Class A construction; Convenient access to Route 20 & I‑495; Build to Suite options available