Established Auto Body Shop
For Sale
$1,100,000
Pending
177 Central St, Saugus, MA 01906
Auto body shop with fenced yard and central AC.
Property Size2,488 SF
Lot Size0.13 Acres
Days on Market164
Property Features for 177 Central St
General Information
Standard status
Pending
Size
2,488 SF
Lot size
0.13 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,502
Building Details
Building Size
2,488 SF
Year Built
1974
Listing Agency:
Coldwell Banker Realty | Lynnfield
(781) 718-4662
Listed By:
Frank T. Rossetti
(781) 718-4662
Source:
Elliman
Added: Mar 10
Changed: Aug 12
Last Checked: Aug 12 at 8:15AM
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 Coldwell Banker Realty | Lynnfield
Investment Insights
Based on property information with market context.
This well-established auto body shop building, constructed in 1974, features a garage capable of accommodating 7 cars. The garage is equipped with two 12'x12' insulated power garage doors. A fenced yard provides additional space for up to 10 cars. The entire shop benefits from central air conditioning and includes a separate office. The property is equipped with 400 amp electric service. The intended use of the property is for auto-related services.
Key Highlights
- Well‑established auto body shop building.
- Garage fits 7 cars with 2 insulated power garage doors (12'x12').
- Fenced yard holds up to 10 cars.
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
$40,879
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
3.72%
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%
$817,580
$817.6K
Cap Rate 7%
$583,986
$584.0K
Cap Rate 9%
$454,211
$454.2K
Market Conditions
NOI Build-Up for 2,488 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
$59.7K $24.00/SF
− Vacancy
−$1.3K −$0.53/SF
EGI
$58.4K $23.47/SF
− OpEx
−$17.5K −$7.04/SF
NOI
$40.9K $16.43/SF
Area
Essex 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%
$817,580
Cap Rate 7%
$583,986
Cap Rate 9%
$454,211
Alternative Uses
Best Use
Retail
$584.0K
$511.0K – $681.3K
NOI $40,879 @ 7.0% cap · market cap 3.72%
Second Best
Industrial
$378.1K
$330.8K – $441.1K
NOI $26,465 @ 7.0% cap · market cap 2.41%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,102 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
718
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Extra Space Storage
Shops & Services
718 visits/mo
0.3 miles
Demographics for 01906, MA
28,619
Population
11,259
Households
2.5
Avg Household Size
45
Median Age
31%
College-Educated
91%
High-School Grad
11.6 sq mi
ZIP Area
2,467
Density / Sq Mi
$100,819
Median Household Income
$52,189
Median Earnings
$1,982
Median Rent
$589,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Auto shop - Auto body shop with fenced yard and central AC.
Where is this auto shop located?
The property is located at 177 Central St Saugus, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Well‑established auto body shop building.; Garage fits 7 cars with **2 insulated power garage doors (12'x12')**.; Fenced yard holds up to 10 cars.
