Commercially Zoned Live-Work
368 Litchfield St, Leominster, MA 01453
For Sale
$374,999
Four-bedroom layout with updated major systems, a fireplaced living room, and on-site parking.
Property Size1,343 SF
Price / SF$279.22
Days on Market50
Property Features for 368 Litchfield St
General Information
Standard status
Size
Zoning
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
LAER Realty Partners
Listed By:
Michele Mathieu · License MA #9036915
(617) 304-2770
Source:
Laerrealty
Added: Sep 22
Changed: Nov 4
Last Checked: Nov 10 at 5:18AM
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 LAER Realty Partners
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Investment Insights
Based on property information with market context.
This commercially zoned, four-bedroom property combines residential space with features suited to a live-work configuration. The interior includes an open kitchen and dining area, a living room with a fireplace, and additional sunroom or porch space. A garage is also part of the property, creating flexibility within the existing layout.
Recent improvements include the roof, electrical system, furnace, and oil tank. Four front parking spaces are currently provided, with backyard area that may offer room for additional parking subject to review. The property is located at 368 Litchfield St in Leominster, near Central Street and Route 2. Any business use, parking changes, separation of spaces, or licensing remains subject to applicable zoning and municipal approvals.
Recent improvements include the roof, electrical system, furnace, and oil tank. Four front parking spaces are currently provided, with backyard area that may offer room for additional parking subject to review. The property is located at 368 Litchfield St in Leominster, near Central Street and Route 2. Any business use, parking changes, separation of spaces, or licensing remains subject to applicable zoning and municipal approvals.
Key Highlights
- Commercial zoning designation: C
- Four‑bedroom property with live‑work configuration
- Four front parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,476
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,520
$489.5K
Cap Rate 7%
$349,657
$349.7K
Cap Rate 9%
$271,956
$272.0K
Market Conditions
NOI Build-Up for 1,343 SF
Gross rent
$40.3K $30.00/SF
− Vacancy
−$7.7K −$5.70/SF
EGI
$32.6K $24.30/SF
− OpEx
−$8.2K −$6.08/SF
NOI
$24.5K $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%
$489,520
Cap Rate 7%
$349,657
Cap Rate 9%
$271,956
Alternative Uses
Best Use
Office B
$349.7K
$306.0K – $407.9K
NOI $24,476 @ 7.0% cap · market cap 6.53%
Second Best
Mixed Use
$173.0K
$151.4K – $201.9K
NOI $12,112 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$458.6K
$401.3K – $535.1K
NOI $32,103 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Live-work space - Four-bedroom layout with updated major systems, a fireplaced living room, and on-site parking.
Where is this live-work space located?
The property is located at 368 Litchfield St Leominster, MA.
What is the asking price?
The asking price for this property is $374,999.
What are key features of this property?
This property features: Commercial zoning designation: C; Four‑bedroom property with live‑work configuration; Four front parking spaces
