Furnished Office and Functional
For Sale
$1,290,000
28 Appleton Rd Auburn, Auburn, MA 01501
Operational office and warehouse space for sale in Auburn.
Property Size5,613 SF
Price / SF$229.82
Days on Market105
Property Features for 28 Appleton Rd Auburn
General Information
Standard status
Active
Size
5,613 SF
Zoning
Commercial
Lease Type
NNN
Taxes and HOA fees
Annual Taxes
$7,838
Building Details
Building Size
5,613 SF
Year Built
2008
Listing Agency:
Keller Williams Realty
(508) 501-1443
Listed By:
Leanne McCormick · License #009533709
(508) 501-1443
Source:
Milestonerealtyinc
Added: May 16
Changed: Aug 28
Last Checked: Aug 28 at 7:30AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This property in Auburn features an operational, furnished office and a fully functional warehouse. The office building, with an architectural shingled roof, provides 2,838 square feet of space and includes a full basement. The first floor features a full kitchen, a large drafting area, one full bathroom, one entertainment room, and four separate offices. The second floor contains two separate private offices, dual working spaces, two drafting areas, and over 400 square feet of storage. The office is equipped with 10 workstations. The warehouse measures 45.5x48 feet with a clear span, along with a 45.5x13 foot exterior overhang, providing a total warehouse space of 2,775 square feet, including a storage area. The warehouse is equipped with one commercial automatic door and one manual door, and it has three-phase electric power. The total property size is 5,613 square feet.
Key Highlights
- Prime location in Auburn for sale or lease.
- Operational furnished office and fully functional warehouse.
- Warehouse with three‑phase electric power and commercial automatic door.
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
$102,297
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
7.93%
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%
$2,045,940
$2.0M
Cap Rate 7%
$1,461,386
$1.5M
Cap Rate 9%
$1,136,633
$1.1M
Market Conditions
NOI Build-Up for 5,613 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
$168.4K $30.00/SF
− Vacancy
−$32.0K −$5.70/SF
EGI
$136.4K $24.30/SF
− OpEx
−$34.1K −$6.08/SF
NOI
$102.3K $18.23/SF
Area
Worcester County, MA
Vacancy
19.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,045,940
Cap Rate 7%
$1,461,386
Cap Rate 9%
$1,136,633
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.70M
NOI $102,297 @ 7.0% cap · market cap 7.93%
Second Best
Warehouse
$934.4K
$817.6K – $1.09M
NOI $65,405 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,173 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01501, MA
16,731
Population
7,040
Households
2.4
Avg Household Size
44
Median Age
42%
College-Educated
93%
High-School Grad
15.3 sq mi
ZIP Area
1,094
Density / Sq Mi
$101,929
Median Household Income
$62,296
Median Earnings
$1,241
Median Rent
$363,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Operational office and warehouse space for sale in Auburn.
Where is this flex space located?
The property is located at 28 Appleton Rd Auburn Auburn, MA.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Prime location in Auburn for sale or lease.; Operational furnished office and fully functional warehouse.; Warehouse with **three‑phase electric power** and commercial automatic door.
