Warehouse Condo with
For Sale
$325,000
160 Otis St Unit C1-9, Northborough, MA 01532
Commercial condo unit with high-ceilinged warehouse space, an office, and a half bath, plus overhead door access.
Property Size1,316 SF
Price / SF$246.96
Days on Market51
Property Features for 160 Otis St Unit C1-9
General Information
Standard status
Active
Size
1,316 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Drive-In Doors
1
Building Details
Building Size
1,316 SF
Year Built
2005
Listing Agency:
Better Living Real Estate, LLC
(781) 821-0105
Listed By:
Patrick Arena · License #449588931
(508) 397-3264
Source:
Iverty
Added: Jul 17
Changed: Sep 4
Last Checked: Sep 5 at 6:19AM
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 Better Living Real Estate, LLC
Investment Insights
Based on property information with market context.
This commercial condo unit offers a high-ceiling warehouse area with office space and a half bath. The unit is built with sturdy prefab metal construction and includes an overhead door for practical loading and access. A fire alarm is also included.
The property is described as conveniently located just off Route 9. Parking is provided with two spaces in a large lot, along with space inside the warehouse for at least two vehicles.
The condo fee is listed as $205 per month or $615 quarterly, and the fee is stated to include snow plowing, landscaping, and reserves.
The property is described as conveniently located just off Route 9. Parking is provided with two spaces in a large lot, along with space inside the warehouse for at least two vehicles.
The condo fee is listed as $205 per month or $615 quarterly, and the fee is stated to include snow plowing, landscaping, and reserves.
Key Highlights
- Commercial condo unit built in 2005 with over 1,300 sq ft of high‑ceilinged warehouse space
- Includes an office and a half bath inside the unit
- Prefab metal construction with overhead door access plus a fire alarm
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
$15,335
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
4.72%
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%
$306,700
$306.7K
Cap Rate 7%
$219,071
$219.1K
Cap Rate 9%
$170,389
$170.4K
Market Conditions
NOI Build-Up for 1,316 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
$19.0K $14.40/SF
− Vacancy
−$910 −$0.69/SF
EGI
$18.0K $13.71/SF
− OpEx
−$2.7K −$2.06/SF
NOI
$15.3K $11.65/SF
Area
Worcester County, MA
Vacancy
4.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$306,700
Cap Rate 7%
$219,071
Cap Rate 9%
$170,389
Alternative Uses
Best Use
Warehouse
$219.1K
$191.7K – $255.6K
NOI $15,335 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$449.4K
$393.2K – $524.3K
NOI $31,458 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01532, MA
15,741
Population
5,913
Households
2.7
Avg Household Size
43
Median Age
67%
College-Educated
97%
High-School Grad
18.5 sq mi
ZIP Area
851
Density / Sq Mi
$174,358
Median Household Income
$90,816
Median Earnings
$2,087
Median Rent
$598,500
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.
Similar Off Market Nearby
- Suites Box LLC — 346 turnpike rd #3115, westborough, ma 01581
- Storage Rentals of America — 160 Otis St, Northborough, MA 01532
- Storage Rentals of America — 241 SW Cutoff, Northborough, MA 01532
Frequently Asked Questions
What type of property is this?
Warehouse - Commercial condo unit with high-ceilinged warehouse space, an office, and a half bath, plus overhead door access.
Where is this warehouse located?
The property is located at 160 Otis St Unit C1-9 Northborough, MA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Commercial condo unit built in 2005 with over 1,300 sq ft of high‑ceilinged warehouse space; Includes an office and a half bath inside the unit; Prefab metal construction with overhead door access plus a fire alarm
