Mixed-Use Property with
For Sale
$1,500,000
34 Connors St, Gardner, MA 01440
Downtown buildings offer flexible office, medical, educational, and residential redevelopment possibilities.
Property Size7,130 SF
Days on Market51
Property Features for 34 Connors St
General Information
Standard status
Active
Size
7,130 SF
Total Parking Spaces
14
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$1.00
Building Details
Building Size
7,130 SF
Year Built
1920
Buildings
2
Listing Agency:
The Stubblebine Company
Listed By:
Chloe Stubblebine
Source:
Classifiedrealtygroup
Added: Aug 26
Changed: Oct 14
Last Checked: Oct 14 at 8:20PM
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 The Stubblebine Company
Investment Insights
Based on property information with market context.
The property comprises buildings at 34 Connors Street and 31 City Hall Avenue in downtown Gardner. The improvements may be delivered vacant or occupied in their existing condition, supporting office, medical, educational, or mixed-use occupancy. The property is also fully permitted for 16 residential apartment units while maintaining approximately 4,000 square feet of ground-floor retail at 34 Connors Street.
Parking includes seven surface spaces and 16 owned underground spaces. The site is 2 miles from RT 2 and 16 miles from I-190. Built in 1920, the property offers both immediate occupancy options and a permitted residential redevelopment plan.
Parking includes seven surface spaces and 16 owned underground spaces. The site is 2 miles from RT 2 and 16 miles from I-190. Built in 1920, the property offers both immediate occupancy options and a permitted residential redevelopment plan.
Key Highlights
- Fully permitted for 16 residential apartment units
- Approximately 4,000 square feet of ground‑floor retail at 34 Connors Street
- Seven surface parking spaces plus 16 owned underground spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,434
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,108,680
$2.1M
Cap Rate 7%
$1,506,200
$1.5M
Cap Rate 9%
$1,171,489
$1.2M
Market Conditions
NOI Build-Up for 7,130 SF
Gross rent
$154.0K $21.60/SF
− Vacancy
−$3.4K −$0.48/SF
EGI
$150.6K $21.12/SF
− OpEx
−$45.2K −$6.34/SF
NOI
$105.4K $14.79/SF
Area
Worcester County, MA
Vacancy
2.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,108,680
Cap Rate 7%
$1,506,200
Cap Rate 9%
$1,171,489
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,434 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,877 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,436 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
16
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 01440, MA
21,577
Population
9,600
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
24.5 sq mi
ZIP Area
881
Density / Sq Mi
$63,526
Median Household Income
$43,737
Median Earnings
$1,071
Median Rent
$270,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown buildings offer flexible office, medical, educational, and residential redevelopment possibilities.
Where is this mixed-use property located?
The property is located at 34 Connors St Gardner, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Fully permitted for 16 residential apartment units; Approximately 4,000 square feet of ground‑floor retail at 34 Connors Street; Seven surface parking spaces plus 16 owned underground spaces
