Four-Storefront Retail Strip
For Sale
$1,199,000
123 S Main St, Athol, MA 01331
Commercial Sale, Athol, MA
Property Size7,074 SF
Lot Size0.57 Acres
Price / SF$169.49
Days on Market88
Property Features for 123 S Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
G
Zoning description
Legal Conforming
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4
Directions
GPS
Standard status
Active
APN
M:0023 B:0132 L:0000,1447245
Size
7,074 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4010
Building Details
Year built
1986
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Rochelle Jonswold
(978) 860-3609
Added: Jun 9
Changed: Sep 3
Last Checked: Sep 4 at 4:06AM
MLS# 73532213
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1986, this 7,074-square-foot retail strip center contains four commercial storefronts on a 0.57-acre parcel. The property includes four bathrooms, on-site parking, and a neighborhood-oriented layout along S Main Street. Zoning is designated G.
The property is located in Athol along the Main Street retail corridor, with access to Route 2, a primary east-west highway serving the area. Its setting provides connectivity to Athol, Orange, Gardner, and surrounding North Central Massachusetts communities. The four-storefront configuration offers a practical format for retail and other commercial occupancy, subject to applicable zoning and approvals.
The property is located in Athol along the Main Street retail corridor, with access to Route 2, a primary east-west highway serving the area. Its setting provides connectivity to Athol, Orange, Gardner, and surrounding North Central Massachusetts communities. The four-storefront configuration offers a practical format for retail and other commercial occupancy, subject to applicable zoning and approvals.
Key Highlights
- 7,074 SF retail strip center on 0.57 acres
- Four commercial storefronts in one neighborhood retail property
- Built in 1986
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
$104,606
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
8.72%
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%
$2,092,120
$2.1M
Cap Rate 7%
$1,494,371
$1.5M
Cap Rate 9%
$1,162,289
$1.2M
Market Conditions
NOI Build-Up for 7,074 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
$152.8K $21.60/SF
− Vacancy
−$3.4K −$0.48/SF
EGI
$149.4K $21.12/SF
− OpEx
−$44.8K −$6.34/SF
NOI
$104.6K $14.79/SF
Area
Worcester County, MA
Vacancy
2.20%
Lease Rate
$21.60 /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%
$2,092,120
Cap Rate 7%
$1,494,371
Cap Rate 9%
$1,162,289
Alternative Uses
Best Use
Retail
$1.49M
$1.31M – $1.74M
NOI $104,606 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.11M – $2.82M
NOI $169,097 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Dining 7%
Cumberland Farms
Shops & Services
10,895 visits/mo
0.4 miles
Ocean State Job Lot
Shops & Services
7,792 visits/mo
0.3 miles
BP
Shops & Services
2,294 visits/mo
0.3 miles
Domino's Pizza
Dining
1,700 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
318 visits/mo
0.1 miles
Demographics for 01331, MA
13,656
Population
6,050
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
89%
High-School Grad
54.2 sq mi
ZIP Area
252
Density / Sq Mi
$68,345
Median Household Income
$42,132
Median Earnings
$1,041
Median Rent
$257,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Neighborhood retail center with multiple suites, on-site parking, and access to Route 2.
Where is this strip mall located?
The property is located at 123 S Main St Athol, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 7,074 SF retail strip center on 0.57 acres; Four commercial storefronts in one neighborhood retail property; Built in 1986
