Warehouse with Loading
New
For Sale
$699,900
15 Maple, North Brookfield, MA 01535
Commercially zoned warehouse property with auxiliary rental buildings, on-site power, and vehicle parking.
Property Size1,960 SF
Days on Market7
Property Features for 15 Maple
General Information
Standard status
Active
Size
1,960 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
5
Building Details
Building Size
1,960 SF
Year Built
1960
Buildings
3
Construction
metal
Listing Agency:
Michael Toomey & Associates, Inc.
(508) 867-2800
Listed By:
Michael Toomey · License #453000424
(508) 951-6460
Source:
Iverty
Added: Sep 5
Changed: Sep 10
Last Checked: Sep 11 at 7:06AM
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 Michael Toomey & Associates, Inc.
Investment Insights
Based on property information with market context.
Built in 1960, the primary improvement is a 75' X 50' metal warehouse with an 18'+ ceiling, electrical service, a bathroom, and two 14' X 14' garage doors. An attached wing adds a loading dock and three additional garage doors, providing functional loading and access features for warehouse or commercial operations.
The offering also includes two occupied rental properties: a three-family house and a separate building currently used by a VFW. The site provides parking for approximintly 30+ vehicles and is located in a commercial zone. A 21E test is available.
The offering also includes two occupied rental properties: a three-family house and a separate building currently used by a VFW. The site provides parking for approximintly 30+ vehicles and is located in a commercial zone. A 21E test is available.
Key Highlights
- 75' X 50' metal warehouse with 18'+ ceiling height
- Two 14' X 14' garage doors plus three additional garage doors
- Loading dock located in the building's additional wing
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
$26,495
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
3.79%
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%
$529,900
$529.9K
Cap Rate 7%
$378,500
$378.5K
Cap Rate 9%
$294,389
$294.4K
Market Conditions
NOI Build-Up for 1,960 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
$38.8K $19.80/SF
− Vacancy
−$959 −$0.49/SF
EGI
$37.8K $19.31/SF
− OpEx
−$11.4K −$5.79/SF
NOI
$26.5K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$529,900
Cap Rate 7%
$378,500
Cap Rate 9%
$294,389
Alternative Uses
Best Use
Multifamily LT 5
$378.5K
$331.2K – $441.6K
NOI $26,495 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$329.4K
$288.2K – $384.3K
NOI $23,057 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$669.3K
$585.7K – $780.9K
NOI $46,852 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
5
Drive-in doors
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01535, MA
4,735
Population
2,163
Households
2.2
Avg Household Size
44
Median Age
26%
College-Educated
95%
High-School Grad
21.3 sq mi
ZIP Area
222
Density / Sq Mi
$81,010
Median Household Income
$55,393
Median Earnings
$973
Median Rent
$316,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Commercially zoned warehouse property with auxiliary rental buildings, on-site power, and vehicle parking.
Where is this warehouse located?
The property is located at 15 Maple North Brookfield, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 75' X 50' metal warehouse with 18'+ ceiling height; Two 14' X 14' garage doors plus three additional garage doors; Loading dock located in the building's additional wing
