Office Unit with Private
32 School St #3, Leominster, MA 01453
For Sale
New
Contact for pricing
A third-floor workspace combines an open area with a separate office and includes Wi-Fi and utilities.
Property Size654 SF
Price / SF$2.52
Days on Market6
Property Features for 32 School St #3
General Information
Standard status
Size
Additional Details
Floor
Property Use
Amenities
mini-splits
Building Details
Year Built
Listing Agency:
EXIT New Options Real Estate
(978) 345-3948
Listed By:
Pablo Graciale
(978) 702-7261
Source:
Lockandkeyre
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:27PM
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 EXIT New Options Real Estate
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Investment Insights
Based on property information with market context.
This 654-square-foot office suite occupies the third floor of a professional office building constructed in 1920. Its plan pairs an open work area with an adjoining private office. Mini-split systems are available, and Wi-Fi and utilities are included.
Off-street parking is available, with additional parking inside the building. The property is across from the courthouse and near downtown restaurants, shops, and other amenities.
Off-street parking is available, with additional parking inside the building. The property is across from the courthouse and near downtown restaurants, shops, and other amenities.
Key Highlights
- 654‑square‑foot office suite on the building’s third floor
- Open work area adjoining a private office
- Mini‑split systems available; Wi‑Fi and utilities included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,919
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,380
$238.4K
Cap Rate 7%
$170,271
$170.3K
Cap Rate 9%
$132,433
$132.4K
Market Conditions
NOI Build-Up for 654 SF
Gross rent
$19.6K $30.00/SF
− Vacancy
−$3.7K −$5.70/SF
EGI
$15.9K $24.30/SF
− OpEx
−$4.0K −$6.08/SF
NOI
$11.9K $18.23/SF
Area
Worcester County, MA
Vacancy
19.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,380
Cap Rate 7%
$170,271
Cap Rate 9%
$132,433
Alternative Uses
Best Use
Office B
$170.3K
$149.0K – $198.7K
NOI $11,919 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$223.3K
$195.4K – $260.6K
NOI $15,633 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,105
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
$345,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Worcester County, MA
Properties on Market for Office Units in Worcester County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A third-floor workspace combines an open area with a separate office and includes Wi-Fi and utilities.
Where is this office unit located?
The property is located at 32 School St #3 Leominster, MA.
What are key features of this property?
This property features: 654‑square‑foot office suite on the building’s third floor; Open work area adjoining a private office; Mini‑split systems available; Wi‑Fi and utilities included
