Renovated Restaurant and Office
For Sale
$699,000
813-815 Main St, Leominster, MA 01453
Two free-standing buildings are leased to one long-term tenant, with a renovated restaurant and office roof replacement.
Property Size2,982 SF
Price / SF$234.41
Days on Market15
Property Features for 813-815 Main St
General Information
Standard status
Active
Size
2,982 SF
Property subtype
Commercial
Occupancy
100%
Building Details
Year Built
1951
Tenancy
Single
Listing Agency:
Keller Williams Realty
(857) 498-7037
Listed By:
Angela Cui
(857) 498-7037
Source:
Liongatere
Added: Jul 17
Changed: Jul 22
Last Checked: Jul 24 at 5:04PM
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.
Two free-standing commercial buildings are offered for sale at 813-815 Main St in Leominster, MA, leased to the same long-term tenant. The current leases are active, and the tenant is responsible for utilities and snow removal. Together, the buildings generate total monthly gross rent of $4,278.
The larger building is a restaurant space with 2,138 square feet, which underwent a full interior and exterior renovation between 2017 and 2018, including heating, AC, electrical, plumbing, roof, and more. The smaller office building is 844 square feet and received a brand-new roof in 2018.
Both properties provide ample off-street parking on site, supporting convenient day-to-day access for occupants and visitors.
The larger building is a restaurant space with 2,138 square feet, which underwent a full interior and exterior renovation between 2017 and 2018, including heating, AC, electrical, plumbing, roof, and more. The smaller office building is 844 square feet and received a brand-new roof in 2018.
Both properties provide ample off-street parking on site, supporting convenient day-to-day access for occupants and visitors.
Key Highlights
- Two free‑standing commercial buildings on Main Street leased to one long‑term tenant with total monthly gross rent of $4,278
- Restaurant building: 2,138 SF; full interior and exterior renovation completed between 2017–2018 including heating, AC, electrical, plumbing, and roof
- Home office building: 844 SF; brand‑new roof installed in 2018
Financial Insights For Office B
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 | $89.5k | $30.00 |
| − Vacancy | −$17.0k | −$5.70 |
| EGI | $72.5k | $24.30 |
| − OpEx | −$18.1k | −$6.08 |
| NOI | $54.3k | $18.23 |
2,982 SF · lease $30.00/SF/yr · vacancy 19.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$776.4K
$679.3K – $905.8K
NOI $54,347 @ 7.0% cap · market cap 7.77%
Second Best
Specialty Retail
$674.9K
$590.6K – $787.4K
NOI $47,246 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$1.02M
$891.0K – $1.19M
NOI $71,282 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
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?
Conventional restaurant - Two free-standing buildings are leased to one long-term tenant, with a renovated restaurant and office roof replacement.
Where is this conventional restaurant located?
The property is located at 813-815 Main St Leominster, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two free‑standing commercial buildings on Main Street leased to one long‑term tenant with total monthly gross rent of $4,278; Restaurant building: 2,138 SF; full interior and exterior renovation completed between 2017–2018 including heating, AC, electrical, plumbing, and roof; Home office building: 844 SF; brand‑new roof installed in 2018
