Leased Office
2-380 Elm St Gardner, MA 01440
For Sale
$325,000
Professional office condominium offered for sale with NNN lease and annual escalation.
Property Size1,456 SF
Price / SF$223.21
Days on Market237
Property Features for 2-380 Elm St
General Information
Standard status
Active
Size
1,456 SF
Listing Agency:
Foster-Healey Real Estate
(978) 407-1342
Listed By:
Wendy Poudrette · License #454501685
(978) 407-1342
Source:
Exprealty
Added: Dec 5, 2025
Changed: Jul 26
Last Checked: Jul 29 at 2:32PM
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 Foster-Healey Real Estate
Investment Insights
Based on property information with market context.
This leased office condominium is structured as a professional space on an NNN basis. It is described as starting its third year of a five-year lease, with an option for a five-year renewal. The lease includes annual escalation.
The property is for sale and presented as an investor-oriented opportunity. Public remarks also indicate a currently stated 8% cap rate and an investment focus tied to the lease structure.
The offering includes a professional office condominium configuration under the specified lease term and renewal option.
The property is for sale and presented as an investor-oriented opportunity. Public remarks also indicate a currently stated 8% cap rate and an investment focus tied to the lease structure.
The offering includes a professional office condominium configuration under the specified lease term and renewal option.
Key Highlights
- Professional office condominium offered for sale with a NNN lease structure
- Lease is in its 3rd year of a 5‑year term, with an option for a 5‑year renewal
- NNN lease includes annual escalation
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.7k | $30.00 |
| − Vacancy | −$8.3k | −$5.70 |
| EGI | $35.4k | $24.30 |
| − OpEx | −$8.8k | −$6.08 |
| NOI | $26.5k | $18.23 |
1,456 SF · lease $30.00/SF/yr · vacancy 19.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$379.1K
$331.7K – $442.3K
NOI $26,536 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.2K
$435.1K – $580.1K
NOI $34,804 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Professional office condominium offered for sale with NNN lease and annual escalation.
Where is this office units located?
The property is located at 2-380 Elm St Gardner, 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: Professional office condominium offered for sale with a NNN lease structure; Lease is in its 3rd year of a 5‑year term, with an option for a 5‑year renewal; NNN lease includes annual escalation
