Modern Office/Flex
For Sale
$3,000,000
29 Bartlett, Marlborough, MA 01752
Modern single-story office/flex building with a dividable conference room, skylights, and an outdoor seating area.
Property Size12,294 SF
Lot Size3.62 Acres
Price / SF$244.02
Days on Market150
Property Features for 29 Bartlett
General Information
Standard status
Active
Size
12,294 SF
Total Parking Spaces
38
Lot size
3.62 Acres
Property subtype
Commercial
Additional Details
Highway Access
Yes
Amenities
large foyer
conference room
open collaborative work area
kitchen
lunch room
file/data rooms
skylights
glass walls
decorative overhead lighting
outdoor seating area
covered loading/delivery area
Building Details
Year Built
2006
Stories
1
Tenancy
Single
Listing Agency:
Gordon Real Estate
Listed By:
Jon Gordon
(617) 875-4950
Source:
Sarkisboston
Added: Apr 9
Changed: Sep 4
Last Checked: Sep 4 at 10:26AM
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 Gordon Real Estate
Investment Insights
Based on property information with market context.
This modern, free-standing, single-story office/flex building totals 12,294 square feet and is presented in move-in ready condition. The interior layout includes a large foyer, a dividable conference room with mounted display screens, a large open collaborative work area, and fully equipped kitchen and lunch room space, along with file/data rooms. Architectural features include high ceilings, skylights, glass walls, and decorative overhead lighting, and there is an outdoor seating area. A covered loading/delivery area is also included.
The property offers easy access to Interstates 495, 290, and 90 (Mass Pike), as well as Routes 9, 20, and 135. The site includes 38 on-site parking spaces.
The property offers easy access to Interstates 495, 290, and 90 (Mass Pike), as well as Routes 9, 20, and 135. The site includes 38 on-site parking spaces.
Key Highlights
- Modern 12,294 SF single‑story office/flex building on 3.62 acres, built in 2006
- Large foyer plus a dividable conference room with mounted display screens
- Open collaborative work area, fully equipped kitchen, lunch room, and file/data rooms
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
$130,770
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
4.36%
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%
$2,615,400
$2.6M
Cap Rate 7%
$1,868,143
$1.9M
Cap Rate 9%
$1,453,000
$1.5M
Market Conditions
NOI Build-Up for 12,294 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
$197.7K $16.08/SF
− Vacancy
−$10.9K −$0.88/SF
EGI
$186.8K $15.20/SF
− OpEx
−$56.0K −$4.56/SF
NOI
$130.8K $10.64/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /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%
$2,615,400
Cap Rate 7%
$1,868,143
Cap Rate 9%
$1,453,000
Alternative Uses
Best Use
Office B
$5.57M
$4.88M – $6.50M
NOI $390,094 @ 7.0% cap · market cap 13.00%
Second Best
Industrial
$1.87M
$1.63M – $2.18M
NOI $130,770 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$7.28M
$6.37M – $8.49M
NOI $509,460 @ 7.0% cap · market cap 16.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Explore this area
Business Placement
Demographics for 01752, MA
41,793
Population
17,370
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
89%
High-School Grad
20.9 sq mi
ZIP Area
2,000
Density / Sq Mi
$95,047
Median Household Income
$49,012
Median Earnings
$1,721
Median Rent
$485,400
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?
Office building - Modern single-story office/flex building with a dividable conference room, skylights, and an outdoor seating area.
Where is this office building located?
The property is located at 29 Bartlett Marlborough, MA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Modern 12,294 SF single‑story office/flex building on 3.62 acres, built in 2006; Large foyer plus a dividable conference room with mounted display screens; Open collaborative work area, fully equipped kitchen, lunch room, and file/data rooms
