Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    37-39 Main St Millbury, MA 01527

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Updated 8-bedroom, 4-bath multifamily property in downtown location.

    Lot size:
    0.18 Acres

    Property Features for 37-39 Main St

    General Information

    Property type
    Investment
    Standard status
    Active
    Lot size
    0.18 Acres

    Building Details

    Year built
    1930

    We can help!

    Listing Contact
    Michalann Cosme
    Source: Elliman

    Listing Agent: Michalann Cosme

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

    Learn more

    Overview

    Updated Multifamily Property Downtown Location

    This updated multifamily property features 8 bedrooms and 4 bathrooms. Located in a convenient downtown location, the building includes young mechanicals, central air conditioning, and hardwood flooring. The bathrooms and kitchens have been recently updated. Each level is equipped with its own washer and dryer, and there is an additional set in the basement. A shared driveway provides off-street parking for three vehicles. The property was most recently used as a halfway house. Furnishings and housewares will convey. This property is suitable for investment, rental, or owner-occupancy.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Millbury
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7673586
    Latitude
    42.1860633

    Nearby Similar for Sale

    • Contact for pricing

      Millbury Warehouse on 2.1 Acres

      25,000 SF warehouse on 2.1 acres in Millbury, MA.
      190 W Main St, Millbury, MA 01527
      View Details
    • $1,100,000

      Turn-Key Restaurant and Lounge-Bar

      Profitable turn-key restaurant and lounge-bar with loyal customers.
      82 Wheelock Ave, Millbury, MA 01527
      View Details
    • $595,000
      Pending

      Oversized Two-Family Home Millbury

      Two-family home with in-law suite, close to downtown.
      38 W Main St, Millbury, MA 01527
      View Details
    • Contact for pricing
      8,700 SF

      Millbury Freestanding Building For Sale

      8,700 SF building on 27,500 SF lot near Mass Pike.
      1485 Grafton Rd, Millbury, MA 01527
      View Details
    • Contact for pricing

      Millbury Restaurant Opportunity For Sale

      Turnkey restaurant with seating for over 100 and ample parking.
      45 River St, Millbury, MA 01527
      View Details
    • Contact for pricing
      Pending

      Well-Maintained Two-Family Home

      Two-family home in Millbury with renovated unit and garage.
      2 Diane St, Millbury, MA 01527
      View Details
    • $11,950,000
      84,000 SF

      Prime Millbury Industrial Facility

      84,000 SF Warehouse, $11.95M
      1537 Grafton Rd, Millbury, MA 01527
      View Details
    • Contact for pricing
      62,244 SF

      Millbury Mixed-Use Redevelopment

      180 Units, 62,244 SF, Prime Location
      115 Main St, Millbury, MA 01527
      View Details

    FAQs

    What type of property is this?
    Apartment building - Updated 8-bedroom, 4-bath multifamily property in downtown location.
    Where is this apartment building located?
    The property is located at 37-39 Main St Millbury, MA.
    What are key features of this property?
    This property features: - Generously sized 8-bedroom, 4-bath multi-family property.; - Convenient downtown location.; - Young mechanicals and central air.
    (978) 660-4906
    Request Owner's contact information
    37-39 Main St Millbury, MA 01527
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    37-39 Main St
    Millbury, MA 01527
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    37-39 Main St Millbury, MA 01527
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michalann Cosme
    (978) 660-4906 (978) 977-0050
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!