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    92 Mill St Lancaster, MA 01523

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    For Sale
    $845,000

    Updated multifamily property with in-law unit and renovated barn.

    Lot size:
    0.44 Acres

    Property Features for 92 Mill St

    General Information

    Lot size
    0.44 Acres

    Building Details

    Year built
    1900

    Source: Bridgemont Realty LLC Agent Ben Hicks

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Updated Multifamily with Renovated Barn

    This updated 3-family property includes an in-law unit and a renovated barn. The property generates $10,100 per month in rent, with all leases expiring in June 2025. Unit 1 features 5 bedrooms and 1.5 baths, including a half bath on the second floor, new flooring, and a renovated kitchen and bath. Units 2 and 3 each offer 2 bedrooms and 1 bath. The barn provides potential for a home office, studio, or guest suite. The property includes updated kitchens and baths, a new roof, siding, windows, modern electrical systems, and newer heating systems and a hot water heater. Situated on a nearly half-acre flat lot, the property provides 10 off-street parking spaces and is located near shopping, dining, and major routes.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.6852708
    Latitude
    42.4402831

    FAQs

    What type of property is this?
    Apartment building - Updated multifamily property with in-law unit and renovated barn.
    Where is this apartment building located?
    The property is located at 92 Mill St Lancaster, MA.
    What is the asking price?
    The asking price for this property is $845,000.
    What are key features of this property?
    This property features: - High income potential: Generates $10,100/month in rent.; - Flexible options: All leases expire June 2025, allowing for rent increases or owner occupancy.; - Updated and renovated: Features updated kitchens and baths, new roof, siding, windows, modern electrical, and newer heating systems and hot water heater.
    (617) 529-0751
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    92 Mill St Lancaster, MA 01523
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    Lancaster, MA 01523
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    92 Mill St Lancaster, MA 01523
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