New Light Industrial
For Sale
$1,399,000
66 Airport Blvd. 5, Marlborough, MA 01752
6,000 sq.ft. light industrial building in Airport Industrial Park.
Property Size6,000 SF
Lot Size0.68 Acres
Days on Market292
Property Features for 66 Airport Blvd. 5
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.68 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,632
Building Details
Building Size
6,000 SF
Year Built
2023
Listed By:
James Vazza
(508) 229-1824
Source:
Elliman
Added: Nov 28, 2025
Changed: Sep 5
Last Checked: Sep 15 at 9:17AM
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 James Vazza
Investment Insights
Based on property information with market context.
A new 6,000 sq.ft. light industrial building is available for purchase. The property features a drive-in door and is situated on Lot 5, a 30,000 sq.ft lot within the new Airport Industrial Park. The park is a 20-lot commercial light industrial development located near Route 20 off Farm Road, close to the Framingham/Sudbury line in Marlborough. Intended uses include light industrial, business, and other commercial activities such as light manufacturing, distribution, office space, contractor services, and landscaping businesses. Seller financing options are available.
Key Highlights
- New 6,000 sq.ft. light industrial building built in 2023
- Located in the new Airport Industrial Park
- 30,000 sq.ft. lot
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
$77,498
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
5.54%
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%
$1,549,960
$1.5M
Cap Rate 7%
$1,107,114
$1.1M
Cap Rate 9%
$861,089
$861.1K
Market Conditions
NOI Build-Up for 6,000 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
$96.5K $16.08/SF
− Vacancy
−$5.3K −$0.88/SF
EGI
$91.2K $15.20/SF
− OpEx
−$13.7K −$2.28/SF
NOI
$77.5K $12.92/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
15.00%
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%
$1,549,960
Cap Rate 7%
$1,107,114
Cap Rate 9%
$861,089
Alternative Uses
Best Use
Warehouse
$1.11M
$968.7K – $1.29M
NOI $77,498 @ 7.0% cap · market cap 5.54%
Second Best
Industrial
$911.7K
$797.8K – $1.06M
NOI $63,822 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,638 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,333
Businesses Nearby
Explore this area
Business Placement
Demographics for 01752, MA
41,793
Population
17,370
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
89%
High-School Grad
20.9 sq mi
ZIP Area
2,000
Density / Sq Mi
$95,047
Median Household Income
$49,012
Median Earnings
$1,721
Median Rent
$485,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 6,000 sq.ft. light industrial building in Airport Industrial Park.
Where is this manufacturing property located?
The property is located at 66 Airport Blvd. 5 Marlborough, MA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: New 6,000 sq.ft. light industrial building built in 2023; Located in the new Airport Industrial Park; 30,000 sq.ft. lot
