Lunenburg Industrial Property For
For Sale
Contact for pricing
199 Massachusetts Ave, Lunenburg, MA 01462
17,000 square foot industrial property available for purchase.
Property Size17,000 SF
Price / SF$233.82
Days on Market1047
Property Features for 199 Massachusetts Ave
General Information
Standard status
Active
Size
17,000 SF
Property subtype
Industrial
Zoning
Commercial
Lease Type
NNN
Building Details
Year Built
1938
Listing Agency:
The Stubblebine Company
(781) 862-6168
Listed By:
Alan Ringuette · License #MA 9020688
Source:
Crexi
Added: Oct 10, 2023
Changed: Aug 12
Last Checked: Aug 20 at 9:37PM
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, available for sale, offers 17,000 square feet of space. The property is located in Lunenburg, Massachusetts.
Key Highlights
- For sale
- Year built: 1938
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
$155,188
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
3.90%
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%
$3,103,760
$3.1M
Cap Rate 7%
$2,216,971
$2.2M
Cap Rate 9%
$1,724,311
$1.7M
Market Conditions
NOI Build-Up for 17,000 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
$234.6K $13.80/SF
− Vacancy
−$12.9K −$0.76/SF
EGI
$221.7K $13.04/SF
− OpEx
−$66.5K −$3.91/SF
NOI
$155.2K $9.13/SF
Area
Worcester County, MA
Vacancy
5.50%
Lease Rate
$13.80 /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%
$3,103,760
Cap Rate 7%
$2,216,971
Cap Rate 9%
$1,724,311
Alternative Uses
Best Use
Industrial
$2.22M
$1.94M – $2.59M
NOI $155,188 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.81M
$5.08M – $6.77M
NOI $406,368 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 01462, MA
11,818
Population
4,711
Households
2.5
Avg Household Size
44
Median Age
45%
College-Educated
94%
High-School Grad
26.6 sq mi
ZIP Area
444
Density / Sq Mi
$109,884
Median Household Income
$58,844
Median Earnings
$1,784
Median Rent
$442,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - 17,000 square foot industrial property available for purchase.
Where is this industrial property located?
The property is located at 199 Massachusetts Ave Lunenburg, MA.
What is the asking price?
The asking price for this property is $3,975,000.
What are key features of this property?
This property features: For sale; Year built: 1938
