Mixed-Use Property with
New
For Sale
$530,000
151 Central Street, Leominster, MA 01453
The two-family building is expected to transfer vacant and carries BB zoning.
Property Size2,305 SF
Price / SF$229.93
Days on Market6
Property Features for 151 Central Street
General Information
Standard status
Active
Size
2,305 SF
Property subtype
Multi-family
Zoning
BB
Lease Term
[]
Amenities
on-site parking
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Redfin Corp.
Listed By:
John Snyder · License #9514441
(508) 425-1245
Source:
Foster-healey
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 10:11AM
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 Redfin Corp.
Investment Insights
Based on property information with market context.
At 151 Central St, this 2,305-square-foot mixed-use property combines a ground-floor storefront with two residential units. The building dates to 1900 and has a new roof. The first-floor configuration may allow for a third bedroom, according to the stated layout potential. The property is expected to be vacant at closing.
The site is 0.3 miles from downtown Leominster and sits by a signalized intersection near the police station. On-site parking is also available.
The site is 0.3 miles from downtown Leominster and sits by a signalized intersection near the police station. On-site parking is also available.
Key Highlights
- 2,305‑square‑foot mixed‑use building with storefront and two residential units
- BB zoning
- Expected to be delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,085
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,700
$681.7K
Cap Rate 7%
$486,929
$486.9K
Cap Rate 9%
$378,722
$378.7K
Market Conditions
NOI Build-Up for 2,305 SF
Gross rent
$49.8K $21.60/SF
− Vacancy
−$1.1K −$0.48/SF
EGI
$48.7K $21.12/SF
− OpEx
−$14.6K −$6.34/SF
NOI
$34.1K $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 Rate 5%
$681,700
Cap Rate 7%
$486,929
Cap Rate 9%
$378,722
Alternative Uses
Best Use
Retail
$486.9K
$426.1K – $568.1K
NOI $34,085 @ 7.0% cap · market cap 6.43%
Second Best
Multifamily LT 5
$445.1K
$389.5K – $519.3K
NOI $31,158 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$787.1K
$688.7K – $918.3K
NOI $55,099 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The two-family building is expected to transfer vacant and carries BB zoning.
Where is this mixed-use property located?
The property is located at 151 Central Street Leominster, MA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 2,305‑square‑foot mixed‑use building with storefront and two residential units; BB zoning; Expected to be delivered vacant at closing
