Downtown Commercial
For Sale
$995,000
132 Central Street, Holliston, MA 01746
VC-zoned downtown parcel with an existing commercial building and potential for redevelopment or mixed-use development, subject to approvals.
Property Size3,900 SF
Days on Market9
Property Features for 132 Central Street
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Industrial / Redevelopment
Building Details
Building Size
3,900 SF
Listing Agency:
Kelleher & Sadowsky Associates Inc
(774) 275-7221
Listed By:
Todd Alexander
Source:
Kelleher-sadowsky
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 30 at 2:30PM
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 Kelleher & Sadowsky Associates Inc
Investment Insights
Based on property information with market context.
This commercial land offering includes an approximately 26,136-square-foot parcel, or 0.60 acres, improved with an existing commercial building. The property is located in Holliston’s Village Center Commercial (VC) zoning district, which supports a range of commercial uses and may allow mixed-use development with residential components, subject to applicable approvals.
Positioned on Central Street in downtown Holliston, the property is near area businesses, restaurants, and residential neighborhoods. Its setting also provides access to major roadways, while the parcel’s existing improvements create a foundation for continued commercial use or future redevelopment.
Positioned on Central Street in downtown Holliston, the property is near area businesses, restaurants, and residential neighborhoods. Its setting also provides access to major roadways, while the parcel’s existing improvements create a foundation for continued commercial use or future redevelopment.
Key Highlights
- Approximately 26,136‑square‑foot commercial land parcel
- Approximately 0.60 acres in downtown Holliston
- Existing commercial building on site
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
$41,484
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
4.17%
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%
$829,680
$829.7K
Cap Rate 7%
$592,629
$592.6K
Cap Rate 9%
$460,933
$460.9K
Market Conditions
NOI Build-Up for 3,900 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
$62.7K $16.08/SF
− Vacancy
−$3.4K −$0.88/SF
EGI
$59.3K $15.20/SF
− OpEx
−$17.8K −$4.56/SF
NOI
$41.5K $10.64/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
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%
$829,680
Cap Rate 7%
$592,629
Cap Rate 9%
$460,933
Alternative Uses
Best Use
Industrial
$592.6K
$518.6K – $691.4K
NOI $41,484 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.02M – $2.69M
NOI $161,615 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 01746, MA
14,996
Population
5,774
Households
2.6
Avg Household Size
43
Median Age
66%
College-Educated
96%
High-School Grad
18.7 sq mi
ZIP Area
802
Density / Sq Mi
$154,684
Median Household Income
$75,457
Median Earnings
$1,651
Median Rent
$620,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - VC-zoned downtown parcel with an existing commercial building and potential for redevelopment or mixed-use development, subject to approvals.
Where is this commercial land located?
The property is located at 132 Central Street Holliston, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Approximately 26,136‑square‑foot commercial land parcel; Approximately 0.60 acres in downtown Holliston; Existing commercial building on site
