Building Details

Year Built 2002

Listing Agency: C. B. Blair Real Estate Show Phone

Listed By: Clealand Blair Jr. · License #453000893 Show Phone

Source: Lockandkeyre

Added: Jul 16 Changed: Oct 31 Last Checked: Nov 1 at 6:03AM

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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 C. B. Blair Real Estate

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Investment Insights

Based on property information with market context.

Located at 249 Main St in Rutland, MA, this versatile commercial property was previously utilized as a restaurant and offers a layout that can support a variety of alternative concepts. Depending on build-out, the space may work for professional office use, medical or wellness applications, salon or boutique retail, café service, or other service-based businesses.

The offering is centered on flexibility, with the current layout and overall accessibility positioning it for businesses seeking a customizable footprint. The seller notes that tenant due diligence is required regarding permitted uses, zoning regulations, and any required approvals with the town.

With approximately 5,000 square feet, the property provides a base for redesign and reconfiguration to fit the intended end use, subject to all approvals and requirements.

Key Highlights

• Year built 2002 commercial space previously operated as a restaurant
• Flexible interior for multiple potential uses such as professional office or medical/wellness services
• Potential uses mentioned include urgent care, physical therapy, nail salon, spa, or salon/boutique retail

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$79,218

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,584,360 $1.6M

Cap Rate 7%

$1,131,686 $1.1M

Cap Rate 9%

$880,200 $880.2K

What to ask about pricing

Market Conditions

NOI Build-Up for 5,000 SF

Gross rent

$108.0K $21.60/SF

− Vacancy

−$2.4K −$0.48/SF

EGI

$105.6K $21.12/SF

− OpEx

−$26.4K −$5.28/SF

NOI

$79.2K $15.84/SF

Area

Worcester County, MA

Vacancy

2.20%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,584,360

Cap Rate 7%

$1,131,686

Cap Rate 9%

$880,200

Alternative Uses

Best Use

Specialty Retail

$1.13M

$990.2K – $1.32M (±1% cap)

NOI $79,218 @ 7.0% cap · market cap 1,980.45%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.71M

$1.49M – $1.99M (±1% cap)

NOI $119,520 @ 7.0% cap · market cap 2,988.00%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Center Tree Bar ... Restaurant Lee's Barber Shop Barber Shop Yang's Kitchen Restaurant Rutland Saveway Gas Station ATM Machine at RUTLAND ... Atm

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office Parking Lot & Garage Pharmacy Electrical Service

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

116

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 01543, MA

9,049

Population

3,257

Households

2.8

Avg Household Size

40

Median Age

42%

College-Educated

98%

High-School Grad

35.1 sq mi

ZIP Area

258

Density / Sq Mi

$155,504

Median Household Income

$67,971

Median Earnings

$998

Median Rent

$439,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Previously operated as a restaurant, this flexible space can accommodate a range of service or office concepts.

Where is this conventional restaurant located?

The property is located at 249 Main St Rutland, MA.

What are key features of this property?

This property features: Year built 2002 commercial space previously operated as a restaurant; Flexible interior for multiple potential uses such as professional office or medical/wellness services; Potential uses mentioned include urgent care, physical therapy, nail salon, spa, or salon/boutique retail