Three-Lot Multifamily and Retail
66 Powder Mill Road Maynard, MA 01754
66 Powder Mill Road, Maynard, MA, 01754
$3,100,000
For Sale
$3,100,000
Three contiguous lots with three existing commercial and multifamily buildings along the Assabet River.
Property Size6,000 SF
Price / SF$516.67
Days on Market573
Property Features for 66 Powder Mill Road
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Multi-family / 5-9 Family
Building Details
- Year Built
- 1900
Listing agency
O'Brien Commercial Properties, Inc
(978) 369-5500
Listed by
Eric A. O'Brien · License #138843
(978) 369-5500
Source
Compass
Added: Dec 25, 2024 Updated: Jul 21 at 5:09AM Checked: Jul 21 at 5:09AM
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 O'Brien Commercial Properties, Inc
Investment Insights
Based on property information with market context.
This offering includes three contiguous lots improved with three existing commercial/multifamily buildings. Combined, the parcels total 2.26 acres and feature frontage along the Assabet River, creating a distinctive setting for a mixed-use plan.
The properties are situated within Maynard’s anticipated overlay district, which is described as allowing greater density for mixed-use developments. The seller also notes that the site benefits from strong traffic count and convenient access to area amenities within walking distance, aligning with the stated goal of a mixed retail and residential development.
As presented, the value proposition is the combination of existing buildings on a contiguous land package with river frontage and overlay-district density potential for future mixed-use redevelopment.
The properties are situated within Maynard’s anticipated overlay district, which is described as allowing greater density for mixed-use developments. The seller also notes that the site benefits from strong traffic count and convenient access to area amenities within walking distance, aligning with the stated goal of a mixed retail and residential development.
As presented, the value proposition is the combination of existing buildings on a contiguous land package with river frontage and overlay-district density potential for future mixed-use redevelopment.
Key Highlights
- 3 contiguous lots with 3 existing commercial/multifamily buildings along the Assabet River
- Total combined area of 2.26 acres on the Assabet River
- Maynard anticipated overlay district allows greater density for mixed‑use developments
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $229.0k | $38.16 |
| − Vacancy | −$11.9k | −$1.98 |
| EGI | $217.1k | $36.18 |
| − OpEx | −$97.7k | −$16.28 |
| NOI | $119.4k | $19.90 |
6,000 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.49M – $1.99M
NOI $119,380 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,638 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Three contiguous lots with three existing commercial and multifamily buildings along the Assabet River.
Where is this apartment building located?
The property is located at 66 Powder Mill Road Maynard, MA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 3 contiguous lots with 3 existing commercial/multifamily buildings along the Assabet River; Total combined area of 2.26 acres on the Assabet River; Maynard anticipated overlay district allows greater density for mixed‑use developments
