Updated Industrial Building Near
22 Laurel St, Leominster, MA 01453
For Sale
Contact for pricing
Updated industrial building with manufacturing and office space for sale.
Property Size6,710 SF
Price / SF$104.32
Days on Market759
Property Features for 22 Laurel St
General Information
Standard status
Size
Property subtype
Listing Agency:
Century 21 North East Leominster
Listed By:
Scott Simpson
(508) 331-2030
Source:
Crexi
Added: Oct 17, 2024
Changed: Aug 17
Last Checked: Aug 25 at 5:06AM
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 Century 21 North East Leominster
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Investment Insights
Based on property information with market context.
This updated industrial building offers 6700 square feet of space suitable for offices and manufacturing purposes. The property is located near the city center, providing convenient access to area highways. The building features a rubber roof that is approximately 14 years old. It is equipped with a 17000 amp electrical service, providing 480 volts at the pole and 240 volts, 3-phase power inside. A full sprinkler system and a security system are in place. The property includes one loading dock and an overhead door. Additional features include a compressor, gas and air lines, 1000 square feet of office space, and 5700 square feet of manufacturing space. The boiler is approximately 8 years old. The building was fully renovated 8 years ago.
Key Highlights
- Updated industrial building with 6700 sqft for offices and manufacturing.
- High‑capacity 17000 amp electrical service with 480/240 volts, 3‑phase power.
- Convenient location near the city center with easy highway access.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,254
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,225,080
$1.2M
Cap Rate 7%
$875,057
$875.1K
Cap Rate 9%
$680,600
$680.6K
Market Conditions
NOI Build-Up for 6,710 SF
Gross rent
$92.6K $13.80/SF
− Vacancy
−$5.1K −$0.76/SF
EGI
$87.5K $13.04/SF
− OpEx
−$26.3K −$3.91/SF
NOI
$61.3K $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%
$1,225,080
Cap Rate 7%
$875,057
Cap Rate 9%
$680,600
Alternative Uses
Best Use
Industrial
$875.1K
$765.7K – $1.02M
NOI $61,254 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,396 @ 7.0% cap · market cap 22.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,406
Businesses Nearby
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Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
Median Home Value
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Market
Average Price Trend$/SF for Manufacturing properties in Worcester County, MA
Properties on Market for Manufacturing properties in Worcester County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Manufacturing property - Updated industrial building with manufacturing and office space for sale.
Where is this manufacturing property located?
The property is located at 22 Laurel St Leominster, MA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Updated industrial building with 6700 sqft for offices and manufacturing.; High‑capacity 17000 amp electrical service with 480/240 volts, 3‑phase power.; Convenient location near the city center with easy highway access.
