Industrial Contractor Bay
For Sale
$549,900
1431 Hilldale Ave # 7, Haverhill, MA 01832
New industrial contractor bay condo with 23-foot ceilings, 14-foot overhead doors, and deeded outdoor parking.
Property Size2,442 SF
Price / SF$225.18
Days on Market59
Property Features for 1431 Hilldale Ave # 7
General Information
Standard status
Active
Size
2,442 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
BP
Warehouse & Industrial
Clear Height
23 ft
Drive-In Doors
1
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
2026
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jul 9
Changed: Sep 5
Last Checked: Sep 5 at 4:39AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
New steel industrial/commercial contractor bay offered as part of an eight-unit condo building. Each 2,442-square-foot unit includes 23-foot ceilings and a 14-foot overhead door, plus a 600-square-foot mezzanine. The layout also features a first-floor half bath with a slop sink. Units are equipped with a gas Modine heating system, and the building is fully sprinkled with fire alarms.
Each bay includes five deeded outdoor parking spaces, with the ability to park vehicles inside the facility as well. The property is described as being about one mile to Plaistow shopping and about two miles to Route 495.
Each bay includes five deeded outdoor parking spaces, with the ability to park vehicles inside the facility as well. The property is described as being about one mile to Plaistow shopping and about two miles to Route 495.
Key Highlights
- Brand‑new industrial/commercial contractor bay condo with 8 condo units, each totaling 2,442 SF
- Each unit features 23 ft ceilings and a 14 ft overhead door
- Units include a 600 SF mezzanine and a first‑floor half bath with a slop sink
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
$42,606
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
7.75%
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%
$852,120
$852.1K
Cap Rate 7%
$608,657
$608.7K
Cap Rate 9%
$473,400
$473.4K
Market Conditions
NOI Build-Up for 2,442 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
$70.3K $28.80/SF
− Vacancy
−$4.8K −$1.96/SF
EGI
$65.5K $26.84/SF
− OpEx
−$22.9K −$9.39/SF
NOI
$42.6K $17.45/SF
Area
Essex County, MA
Vacancy
6.80%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
35.00%
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%
$852,120
Cap Rate 7%
$608,657
Cap Rate 9%
$473,400
Alternative Uses
Best Use
Flex RnD
$608.7K
$532.6K – $710.1K
NOI $42,606 @ 7.0% cap · market cap 7.75%
Second Best
Warehouse
$450.6K
$394.3K – $525.7K
NOI $31,542 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,196 @ 7.0% cap · market cap 18.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01832, MA
25,656
Population
10,735
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
11.4 sq mi
ZIP Area
2,251
Density / Sq Mi
$81,141
Median Household Income
$47,151
Median Earnings
$1,612
Median Rent
$410,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - New industrial contractor bay condo with 23-foot ceilings, 14-foot overhead doors, and deeded outdoor parking.
Where is this flex space located?
The property is located at 1431 Hilldale Ave # 7 Haverhill, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Brand‑new industrial/commercial contractor bay condo with 8 condo units, each totaling 2,442 SF; Each unit features 23 ft ceilings and a 14 ft overhead door; Units include a 600 SF mezzanine and a first‑floor half bath with a slop sink
