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    354 Main St Gardner, MA 01440

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    For Lease
    $22 SF/Yr

    End-cap medical office space available with highway access and parking.

    Property size:
    12,511 SF
    Lot size:
    12,511 SF

    Property Features for 354 Main St

    General Information

    Size
    12,511 SF

    We can help!

    Listing Contact
    Michael C. Jacobs
    Source: Naiglobal

    Listing Agent: Michael C. Jacobs

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

    Learn more

    Overview

    Medical Office Space For Lease

    Available for lease is 1,654 square feet of end-cap medical office space located at 354 Main Street in Gardner, MA. Constructed in 2011, the building is in excellent condition and features Class A finishes. The property benefits from highway access off of Route 2 and strong roadway visibility. Over 55 parking spaces are available. The available unit includes private offices, exam rooms, a large reception area, and storage spaces.
    Location Intelligence

    Current Use by Public Records

    Longwood Eye & LASIK ... Ophthalmologist Eye & Lasik Center: ... Optometrist Social Security Administration Social Security Office Edward Jones - Financial ... Financial Consultant Miracle-Ear Hearing Aid ... Hearing Aid Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Similar Places Nearby

    Tender Heart Vet Care PC

    Location Insight

    • Map
    • Local Demand
    City
    Gardner
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.9918098
    Latitude
    42.5690623

    Nearby Similar for Lease

    • $22 SF/Yr
      12,511 SF

      Prime Gardner Medical Office Space

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      354 Main St, Gardner, MA 01440
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      183,775 SF

      Timpany Plaza Retail Center

      Gardner, MA: High-traffic retail spaces available.
      360 Timpany Blvd, Gardner, MA 01440
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    • $10 SF/Yr

      Retail Space in Busy Area

      2,300 sqft commercial space in a desirable, busy location.
      403-405 Parker St, Gardner, MA 01440
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      Retail Space in Timpany Plaza

      Retail space for lease in vibrant shopping center.
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    • $500 /Mo

      Premium Office Space in Gardner

      High-traffic office space near Route 2 with included utilities.
      486 Chestnut St, Gardner, MA 01440
      View Details

    FAQs

    What type of property is this?
    Medical office - End-cap medical office space available with highway access and parking.
    Where is this medical office located?
    The property is located at 354 Main St Gardner, MA.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: - Unparalleled highway access off Route 2; - Pristine, move-in ready medical office space; - Class A finishes throughout
    (774) 230-3448
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    354 Main St Gardner, MA 01440
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    Gardner, MA 01440
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    354 Main St Gardner, MA 01440
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    We can help!
    Listing Contact
    Michael C. Jacobs
    (774) 230-3448
    Learn more
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