Building Details

Year Built 2000

Buildings 1

Stories 2

Building Size 5,324 SF

Listing Agency: Property Services Network

Listed By: David Restic Show Phone

Source: Benoitrealestate

Added: Jul 19 Changed: Sep 14 Last Checked: Sep 15 at 8:31AM

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Investment Insights

Based on property information with market context.

This flex industrial property offers a combined 10.63± acres with an approximately 5,324± sq. ft. building designed to support both office and warehouse operations. The first floor includes approximately 1,280± sq. ft. of finished office space with a reception area, private office, dedicated lab/tech room, break room, and two handicap-accessible restrooms. The second floor provides an additional 1,280± sq. ft. of flexible office, administrative, sales, or lab space with a private restroom, with the potential to open into the industrial area for mezzanine-style storage.

The 2,764± sq. ft. warehouse includes an 18-foot clear ceiling height, a 14' x 12' rear drive-in door, and a 10' x 8' side loading dock. The property also features ample parking and convenient truck access, supporting a range of light industrial and service-based uses, including owner-user operations, distribution, showroom, and service-oriented businesses. Built in 2000.

Key Highlights

• Combined 10.63± acres with an approximately 5,324± sq. ft. flex industrial building
• First‑floor office includes 1,280± sq. ft. with reception, private office, lab/tech room, break room, and two ADA restrooms
• Second‑floor flexible space adds 1,280± sq. ft., with private restroom and potential for mezzanine‑style storage access

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

$97,030

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

5.47%

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%

$1,940,600 $1.9M

Cap Rate 7%

$1,386,143 $1.4M

Cap Rate 9%

$1,078,111 $1.1M

Market Conditions

NOI Build-Up for 5,324 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

$159.7K $30.00/SF

− Vacancy

−$30.3K −$5.70/SF

EGI

$129.4K $24.30/SF

− OpEx

−$32.3K −$6.08/SF

NOI

$97.0K $18.23/SF

Area

Worcester County, MA

Vacancy

19.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

25.00%

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%

$1,940,600

Cap Rate 7%

$1,386,143

Cap Rate 9%

$1,078,111

Alternative Uses

Best Use

Office B

$1.39M

$1.21M – $1.62M (±1% cap)

NOI $97,030 @ 7.0% cap · market cap 5.47%

Second Best

Warehouse

$886.3K

$775.5K – $1.03M (±1% cap)

NOI $62,038 @ 7.0% cap · market cap 3.50%

Theoretical Best

Office A

$1.82M

$1.59M – $2.12M (±1% cap)

NOI $127,265 @ 7.0% cap · market cap 7.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Printer Pro Solutions, ... Computer & Electronic Repair Laser Lightning LLC Computer & Electronic Repair Digital Systems Services ... Computer & Electronic Repair

Suggested Use

Top Pick Building Supply Auto Parts Store Storage Facility (Bike/Boat/Book/etc) Store Restaurant Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18 ft

Clear height

1

Dock-high doors

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 01516, MA

8,962

Population

3,558

Households

2.5

Avg Household Size

43

Median Age

44%

College-Educated

98%

High-School Grad

36.7 sq mi

ZIP Area

244

Density / Sq Mi

$147,859

Median Household Income

$70,780

Median Earnings

$1,537

Median Rent

$436,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Flex industrial building with finished office space on two levels, plus warehouse space with a rear drive-in door.

Where is this flex space located?

The property is located at 174 Davis Street Douglas, MA.

What is the asking price?

The asking price for this property is $1,775,000.

What are key features of this property?

This property features: Combined 10.63± acres with an approximately 5,324± sq. ft. flex industrial building; First‑floor office includes 1,280± sq. ft. with reception, private office, lab/tech room, break room, and two ADA restrooms; Second‑floor flexible space adds 1,280± sq. ft., with private restroom and potential for mezzanine‑style storage access