Building Details

Building Size 3,442 SF

Year Built 1955

Listing Agency: Century 21 North East Show Phone

Listed By: Scott Simpson · License #454501513 Show Phone

Source: Churchillprop

Added: Apr 15 Changed: Oct 6 Last Checked: Oct 20 at 6:23PM

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Investment Insights

Based on property information with market context.

This property includes two updated buildings on 2.2 acres, combining a 616 sq ft office with a 2,826 sq ft warehouse. The office features two offices and a bath, while the warehouse was originally designed as a climate-controlled grow facility and is equipped with eight high-efficiency mini-splits. Recent upgrades include a new 600 amp 120/208V electrical service, two handicap-accessible baths, fire alarm and security systems, a Generac standby generator with automatic transfer switch, a new roof, exterior security fencing, and new septic and well pump.

The buildings sit on a spacious lot with room for parking and potential future expansion. The property is located on a well-traveled road with easy highway access.

Flexible zoning allows commercial, manufacturing, residential, and other uses, supporting a broad range of operational and development possibilities.

Key Highlights

• Two updated buildings on 2.2 acres: 616 sq ft office and 2,826 sq ft warehouse
• Warehouse originally designed as a climate‑controlled grow facility with eight high‑efficiency mini‑splits
• Recent upgrades include new 600 amp 120/208V electrical service, fire alarm, and security systems

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,421

Cap Rate

8.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$628,420 $628.4K

Cap Rate 7%

$448,871 $448.9K

Cap Rate 9%

$349,122 $349.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,442 SF

Gross rent

$47.5K $13.80/SF

− Vacancy

−$2.6K −$0.76/SF

EGI

$44.9K $13.04/SF

− OpEx

−$13.5K −$3.91/SF

NOI

$31.4K $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 Rate 5%

$628,420

Cap Rate 7%

$448,871

Cap Rate 9%

$349,122

Alternative Uses

Best Use

Office B

$896.1K

$784.1K – $1.05M (±1% cap)

NOI $62,730 @ 7.0% cap · market cap 17.92%

Second Best

Warehouse

$573.0K

$501.4K – $668.5K (±1% cap)

NOI $40,108 @ 7.0% cap · market cap 11.46%

Theoretical Best

Office A

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,278 @ 7.0% cap · market cap 23.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Building Supply Restaurant Real Estate Agency Big Box & Wholesale Store Dental Office Hair Salon

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

128

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 01331, MA

13,656

Population

6,050

Households

2.3

Avg Household Size

44

Median Age

21%

College-Educated

89%

High-School Grad

54.2 sq mi

ZIP Area

252

Density / Sq Mi

$68,345

Median Household Income

$42,132

Median Earnings

$1,041

Median Rent

$257,300

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

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Frequently Asked Questions

What type of property is this?

Flex space - Two updated buildings include a small office suite and a warehouse with climate-controlled grow infrastructure.

Where is this flex space located?

The property is located at 201 Daniel Shays Hwy Athol, MA.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Two updated buildings on 2.2 acres: 616 sq ft office and 2,826 sq ft warehouse; Warehouse originally designed as a climate‑controlled grow facility with eight high‑efficiency mini‑splits; Recent upgrades include new 600 amp 120/208V electrical service, fire alarm, and security systems