Updated Industrial Building Near
For Sale
Contact for pricing
22 Laurel St, Leominster, MA 01453
Updated industrial building with manufacturing and office space for sale.
Property Size6,710 SF
Price / SF$104.32
Days on Market664
Property Features for 22 Laurel St
General Information
Standard status
Active
Size
6,710 SF
Property subtype
Special Purpose, Land
Listing Agency:
Century 21 North East Leominster
(508) 331-2030
Listed By:
Scott Simpson · License #MA
Source:
Crexi
Added: Oct 17, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:22AM
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
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 = 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
$61,254
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
8.75%
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%
$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
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
$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 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%
$1,225,080
Cap Rate 7%
$875,057
Cap Rate 9%
$680,600
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,290 @ 7.0% cap · market cap 17.47%
Second Best
Industrial
$875.1K
$765.7K – $1.02M
NOI $61,254 @ 7.0% cap · market cap 8.75%
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,406
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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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.
