Millbury Freestanding Building For
For Sale
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1485 Grafton Rd, Millbury, MA
8,700 SF building on 27,500 SF lot near Mass Pike.
Property Size8,700 SF
Lot Size0.61 Acres
Price / SF$241.38
Days on Market354
Property Features for 1485 Grafton Rd
General Information
Standard status
Active
Size
8,700 SF
Lot size
0.61 Acres
Property subtype
RETAIL
Properties For Sale
at 1485 Grafton Rd Contact us- Floor
- Bldg
- Size
- 8,700 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
1485 Grafton Rd
- Looking for a versatile commercial space in a high-visibility location? Look no...
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Listing Agency:
Centre Realty Group
(617) 564-0551
Listed By:
Matt Javitch
Source:
Moodyscre
Added: Aug 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:18AM
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 Centre Realty Group
Investment Insights
Based on property information with market context.
This 8,700 SF freestanding building is situated on a 27,500 SF lot in the East Millbury Business District. The property benefits from high visibility and strong traffic counts. Zoned East Millbury Business (EMB), the location allows for retail, restaurant, medical, professional office, two-family, and multifamily dwellings (by special permit). The property is located one minute from the Mass Pike and close to area amenities. Currently configured as an open commercial space, the building includes a loading dock, ADA accessibility, and ample on-site parking. This property is suitable for a business looking for immediate occupancy or a developer seeking to reimagine the site under the EMB zoning flexibility.
Key Highlights
- 1 minute from Mass Pike, providing exceptional access and visibility.
- Located in the East Millbury Business (EMB) zone, allowing for diverse commercial, mixed‑use, or residential development options.
- 8,700 SF freestanding building on a spacious 27,500 SF lot.**
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
$128,650
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
6.13%
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%
$2,573,000
$2.6M
Cap Rate 7%
$1,837,857
$1.8M
Cap Rate 9%
$1,429,444
$1.4M
Market Conditions
NOI Build-Up for 8,700 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
$187.9K $21.60/SF
− Vacancy
−$4.1K −$0.48/SF
EGI
$183.8K $21.12/SF
− OpEx
−$55.1K −$6.34/SF
NOI
$128.7K $14.79/SF
Area
Worcester County, MA
Vacancy
2.20%
Lease Rate
$21.60 /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%
$2,573,000
Cap Rate 7%
$1,837,857
Cap Rate 9%
$1,429,444
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.14M
NOI $128,650 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $207,965 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 96%
Dining 4%
7-Eleven
Shops & Services
13,121 visits/mo
0.2 miles
Dollar Tree
Shops & Services
12,609 visits/mo
0.3 miles
Enterprise Rent-A-Car
Shops & Services
1,321 visits/mo
0.5 miles
Enterprise Car Sales
Shops & Services
1,240 visits/mo
0.4 miles
Domino's Pizza
Dining
1,081 visits/mo
0.3 miles
Market
Vacancy Rate% for Retail 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?
Retail space - 8,700 SF building on 27,500 SF lot near Mass Pike.
Where is this retail space located?
The property is located at 1485 Grafton Rd Millbury, MA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 1 minute from Mass Pike, providing exceptional access and visibility.; Located in the East Millbury Business (EMB) zone, allowing for diverse commercial, mixed‑use, or residential development options.; 8,700 SF freestanding building on a spacious 27,500 SF lot.**
