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    50 Whalon St Fitchburg, MA 1420

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    For Sale
    $2,770,000

    Fully occupied retail strip with triple-net leases and attractive renewals.

    Type:Shopping Strip
    Property size:
    8,487 SF
    Lot size:
    0.62 Acres
    Price / SF:
    $326/SF
    Added:
    Apr 3, 2026
    Days on Market:
    20
    Last Refresh:
    Apr 3 at 5:17 am

    Property Features for 50 Whalon St

    General Information

    Standard status
    Active
    Size
    8,487 SF
    Lot size
    0.62 Acres
    Property subtype
    Shopping Strip

    Building Details

    Year Built
    2017

    We can help!

    Listing Contact
    Megan Sullivan
    Megan Sullivan

    Listing agent Megan Sullivan License #IL: 475.208710

    Listing office Chicago Downtown Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Chicago Downtown Office

    Overview

    Fitchburg Retail Shopping Strip

    The retail shopping strip, constructed in 2017, is located at 50 Whalon Street, Fitchburg, Massachusetts. The property consists of 8,487 square feet on 0.62 acres of land. The retail shopping strip is 100 percent occupied by Simply Pediatric Dentistry & Orthodontics, Green Meadows Dispensary, and First Class Hair Design. All tenants operate under a triple-net lease structure with increases and attractive renewal options. Simply Pediatric Dentistry & Orthodontics provides pediatric dentistry and orthodontics. Green Meadows Dispensary cultivates organic cannabis. First Class Hair Design is a full-service salon and spa offering beauty services. The retail strip center is situated amongst other retailers in the area, such as Great Clips, Cricket Wireless, Fidelity Bank, Outback Steakhouse, and Verizon, serving Central Massachusetts. The nearest bus stop is located at Twin City Plaza near the Burger King, approximately a 5-minute walk away. This stop is served by the Montachusett Regional Transit Authority (MART) Route 3, which operates in the Fitchburg area. The property is located near the Leominster/Fitchburg line and close to Route 2 on an off-ramp. The nearest Interstate 90 junction (in Auburn, MA) is approximately 27.2 miles away. Fitchburg, Massachusetts, is located near Interstate 190 (I-190), which connects to Interstate 290 (I-290) and further to Interstate 495 (I-495).
    Location Intelligence

    Current Use by Public Records

    Elite Oral Surgery ... Dental Office Simply Pediatric Dentistry ... Dental Office Green Meadows Cannabis ... (Bike/Boat/Book/etc) Store Dr. Nidhi Agarwal Dental Office Dr. Myles Clancy Dental Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fitchburg
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7849118
    Latitude
    42.5547489

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    FAQs

    What type of property is this?
    Strip mall - Fully occupied retail strip with triple-net leases and attractive renewals.
    Where is this strip mall located?
    The property is located at 50 Whalon St Fitchburg, MA.
    What is the asking price?
    The asking price for this property is $2,770,000.
    What are key features of this property?
    This property features: 100% Occupancy: Ensuring immediate income.; Triple‑Net Leases: Minimizing landlord responsibilities.; Strong Tenant Profile: Featuring Simply Pediatric Dentistry & Orthodontics, Green Meadows Dispensary, and First Class Hair Design.
    (312) 327-5493
    We can help!
    Listing Contact
    Megan Sullivan
    Megan Sullivan
    Real Estate License ID: IL: 475.208710
    Learn More
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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
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