Mixed-Use Retail/Office Investment
For Sale
Contact for pricing
140 Worcester Providence Tpke, Sutton, MA 01590
Mixed-use retail/office with apartments for sale on Route 146.
Property Size7,648 SF
Price / SF$117.02
Days on Market182
Property Features for 140 Worcester Providence Tpke
General Information
Standard status
Active
Size
7,648 SF
Total Parking Spaces
30
Property subtype
Retail, Office, Multifamily
Zoning
B-2
Investment Type
Owner/User
Building Details
Year Built
1947
Year Renovated
2015
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
NAI Glickman Kovago & Jacobs
Listed By:
Jeff Borus · License #MA 9038334
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 18 at 1:47PM
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 NAI Glickman Kovago & Jacobs
Investment Insights
Based on property information with market context.
This mixed-use property, suitable for retail, office, or residential income purposes, is available for sale. The 7,648 square-foot property features a retail/office space with two apartments, presenting an investment or owner-occupancy opportunity. It is located along a busy section of Route 146 in Sutton, Massachusetts. The surrounding area includes a mix of national retail, local retail, commercial establishments, and residential side streets. The property is situated near an overpass to a divided highway, providing convenient access for travelers in both directions. The current owner has completed numerous updates and replacements in recent years.
Key Highlights
- Mixed‑use property with retail/office space and two apartments
- Investment/owner occupancy opportunity
- Located on busy Route 146 in Sutton, MA
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
$68,975
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
7.71%
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%
$1,379,500
$1.4M
Cap Rate 7%
$985,357
$985.4K
Cap Rate 9%
$766,389
$766.4K
Market Conditions
NOI Build-Up for 7,648 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
$119.3K $15.60/SF
− Vacancy
−$8.9K −$1.17/SF
EGI
$110.4K $14.43/SF
− OpEx
−$41.4K −$5.41/SF
NOI
$69.0K $9.02/SF
Area
Worcester County, MA
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,379,500
Cap Rate 7%
$985,357
Cap Rate 9%
$766,389
Alternative Uses
Best Use
Office B
$1.99M
$1.74M – $2.32M
NOI $139,385 @ 7.0% cap · market cap 15.57%
Second Best
Retail
$1.62M
$1.41M – $1.88M
NOI $113,094 @ 7.0% cap · market cap 12.64%
Theoretical Best
Office A
$2.61M
$2.29M – $3.05M
NOI $182,818 @ 7.0% cap · market cap 20.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 01590, MA
9,279
Population
3,359
Households
2.8
Avg Household Size
45
Median Age
47%
College-Educated
97%
High-School Grad
32.5 sq mi
ZIP Area
286
Density / Sq Mi
$155,938
Median Household Income
$62,293
Median Earnings
$1,167
Median Rent
$526,400
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?
Mixed-use property - Mixed-use retail/office with apartments for sale on Route 146.
Where is this mixed-use property located?
The property is located at 140 Worcester Providence Tpke Sutton, MA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Mixed‑use property with retail/office space and two apartments; Investment/owner occupancy opportunity; Located on busy Route 146 in Sutton, MA
