Two-Unit Industrial
New
For Sale
$2,990,000
36 Town Forest Rd, Oxford, MA 01540
Industrial facility with dock access, drive-in doors, and a flexible two-suite configuration.
Property Size28,180 SF
Price / SF$106.10
Days on Market5
Property Features for 36 Town Forest Rd
General Information
Standard status
Active
Size
28,180 SF
Property subtype
Vacant-User
Amenities
Located within the premier South Worcester County Industrial Park
Features ample parking and modern offices
Each unit features loading docks and drive-in doors
Just over a mile from Interstate 395
Building Details
Building Size
28,180 SF
Year Built
1984
Buildings
1
Listing Agency:
Marcus & Millichap - Boston
Listed By:
Harrison Klein · License #License(s): MA: 9580881
(617) 896-7237
Source:
Marcusmillichap
Added: Sep 20
Last Checked: Sep 24 at 6:39AM
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 Marcus & Millichap - Boston
Investment Insights
Based on property information with market context.
This 28,180-square-foot industrial warehouse was built in 1984 and is arranged as two approximately 14,000-square-foot spaces. Each unit includes loading docks and drive-in doors, supporting separate occupancy or operational flexibility. The demising walls can be removed to form one approximately 28,000-square-foot area. A standing seam metal roof and maintained parking lots are also part of the property improvements.
The facility is located in the Oxford Industrial Park among manufacturing and distribution businesses, including TEC Engineering, Berlin Steel Construction Co., and Bergman Industrial Filters. I-395 is 1.2 miles away, with access to the Mass Pike (I-90) approximately 10 miles from the property. The location connects the facility with Worcester, Boston, and Providence, RI.
The facility is located in the Oxford Industrial Park among manufacturing and distribution businesses, including TEC Engineering, Berlin Steel Construction Co., and Bergman Industrial Filters. I-395 is 1.2 miles away, with access to the Mass Pike (I-90) approximately 10 miles from the property. The location connects the facility with Worcester, Boston, and Providence, RI.
Key Highlights
- 28,180‑square‑foot industrial facility built in 1984
- Two approximately 14,000‑square‑foot spaces with separate layouts
- Loading docks and drive‑in doors serving each space
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
$257,247
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
8.60%
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%
$5,144,940
$5.1M
Cap Rate 7%
$3,674,957
$3.7M
Cap Rate 9%
$2,858,300
$2.9M
Market Conditions
NOI Build-Up for 28,180 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
$388.9K $13.80/SF
− Vacancy
−$21.4K −$0.76/SF
EGI
$367.5K $13.04/SF
− OpEx
−$110.2K −$3.91/SF
NOI
$257.2K $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%
$5,144,940
Cap Rate 7%
$3,674,957
Cap Rate 9%
$2,858,300
Alternative Uses
Best Use
Warehouse
$4.69M
$4.10M – $5.47M
NOI $328,367 @ 7.0% cap · market cap 10.98%
Second Best
Flex RnD
$4.43M
$3.87M – $5.17M
NOI $309,924 @ 7.0% cap · market cap 10.37%
Theoretical Best
Office A
$9.62M
$8.42M – $11.23M
NOI $673,615 @ 7.0% cap · market cap 22.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01540, MA
11,032
Population
4,337
Households
2.5
Avg Household Size
44
Median Age
27%
College-Educated
94%
High-School Grad
19.1 sq mi
ZIP Area
578
Density / Sq Mi
$118,389
Median Household Income
$52,248
Median Earnings
$1,135
Median Rent
$346,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- CubeSmart Self Storage — 80 Cudworth Rd, Webster, MA 01570
- Webster EZ Storage — 6 Town Forest Rd, Webster, MA 01570
- Life Storage - Oxford — 90 Main St, Oxford, MA 01540
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility with dock access, drive-in doors, and a flexible two-suite configuration.
Where is this warehouse located?
The property is located at 36 Town Forest Rd Oxford, MA.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: 28,180‑square‑foot industrial facility built in 1984; Two approximately 14,000‑square‑foot spaces with separate layouts; Loading docks and drive‑in doors serving each space
