Building Details

Buildings 2

Listing Agency: The Stubblebine Company

Listed By: Micah Stubblebine · License #MA 9089495

Source: Crexi

Added: Sep 7 Changed: Sep 9 Last Checked: Sep 13 at 7:23AM

Report an Issue

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 The Stubblebine Company

Investment Insights

Based on property information with market context.

This industrial property includes two separate buildings with a combined 10,608 square feet of space. The asset is located at 18 Republic Rd in North Billerica, Massachusetts, providing a defined industrial property offering within the local commercial market.

Key Highlights

• Two industrial buildings included
• 10,608 SF combined building area
• Located at 18 Republic Rd, North Billerica, MA 01821

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

$137,016

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

8.56%

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%

$2,740,320 $2.7M

Cap Rate 7%

$1,957,371 $2.0M

Cap Rate 9%

$1,522,400 $1.5M

Market Conditions

NOI Build-Up for 10,608 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

$170.6K $16.08/SF

− Vacancy

−$9.4K −$0.88/SF

EGI

$161.2K $15.20/SF

− OpEx

−$24.2K −$2.28/SF

NOI

$137.0K $12.92/SF

Area

Middlesex County, MA

Vacancy

5.50%

Lease Rate

$16.08 /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%

$2,740,320

Cap Rate 7%

$1,957,371

Cap Rate 9%

$1,522,400

Alternative Uses

Best Use

Warehouse

$1.96M

$1.71M – $2.28M (±1% cap)

NOI $137,016 @ 7.0% cap · market cap 8.56%

Second Best

Industrial

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $112,836 @ 7.0% cap · market cap 7.05%

Theoretical Best

Office A

$6.28M

$5.49M – $7.33M (±1% cap)

NOI $439,593 @ 7.0% cap · market cap 27.47%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Granite Designs LLC Kitchen & Bath Showroom A&M Customs Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Hair Salon Spa & Massage Center Auto Repair Shop

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

Location Intelligence

Trade Area within ½ mile

135

Businesses Nearby

Explore this area Business Placement

Demographics for 01821, MA

30,909

Population

11,666

Households

2.6

Avg Household Size

43

Median Age

42%

College-Educated

95%

High-School Grad

16.6 sq mi

ZIP Area

1,862

Density / Sq Mi

$142,564

Median Household Income

$65,056

Median Earnings

$2,211

Median Rent

$581,300

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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

Frequently Asked Questions

What type of property is this?

Industrial property - Industrial property comprising two separate buildings for commercial use.

Where is this industrial property located?

The property is located at 18 Republic Rd North Billerica, MA.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Two industrial buildings included; 10,608 SF combined building area; Located at 18 Republic Rd, North Billerica, MA 01821