Mixed-Use Redevelopment
New
For Sale
$1,400,000
4-12 Parker St, Gardner, MA 01440
Partially advanced redevelopment with approved residential plans and street-level commercial space.
Property Size15,716 SF
Price / SF$107.69
Days on Market3
Property Features for 4-12 Parker St
General Information
Standard status
Active
Size
15,716 SF
Property subtype
Multifamily
Additional Details
Opportunity Zone
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,745
Building Details
Building Size
15,716 SF
Year Built
1900
Buildings
1
Listing Agency:
eXp Realty LLC
Listed By:
Candor Investment Group
(978) 710-5616
Source:
Classifiedrealtygroup
Added: Sep 12
Last Checked: Sep 13 at 5:41AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use building contains more than 13,000 square feet and is being repositioned through an active redevelopment plan. Approved plans call for 16 residential units above four street-level commercial units, with residential redevelopment permitted by right. Design and construction plans are in place, and substantial work has already progressed, including a new roof, replacement windows, exterior siding improvements, and residential framing. A new utility transformer has been installed, with electrical supplies and equipment on site.
The property at 4-12 Parker St is located in Downtown Gardner within a federally designated Opportunity Zone tract and the Downtown Urban Renewal Plan Area. The project offers a defined path for completing a mixed-use repositioning supported by existing plans and completed early construction work, subject to buyer verification and due diligence.
The property at 4-12 Parker St is located in Downtown Gardner within a federally designated Opportunity Zone tract and the Downtown Urban Renewal Plan Area. The project offers a defined path for completing a mixed-use repositioning supported by existing plans and completed early construction work, subject to buyer verification and due diligence.
Key Highlights
- Approved plans for 16 residential units and 4 street‑level commercial units
- More than 13,000 SF mixed‑use building built in 1900
- New roof, windows, exterior siding work, and significant residential framing completed
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
$117,244
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
8.37%
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%
$2,344,880
$2.3M
Cap Rate 7%
$1,674,914
$1.7M
Cap Rate 9%
$1,302,711
$1.3M
Market Conditions
NOI Build-Up for 13,000 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
$202.8K $15.60/SF
− Vacancy
−$15.2K −$1.17/SF
EGI
$187.6K $14.43/SF
− OpEx
−$70.3K −$5.41/SF
NOI
$117.2K $9.02/SF
Area
Worcester County, MA
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,344,880
Cap Rate 7%
$1,674,914
Cap Rate 9%
$1,302,711
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.55M
NOI $152,932 @ 7.0% cap · market cap 10.92%
Second Best
Mixed Use
$1.67M
$1.47M – $1.95M
NOI $117,244 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$4.44M
$3.88M – $5.18M
NOI $310,752 @ 7.0% cap · market cap 22.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
789
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
Check the figures for this property
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 - Partially advanced redevelopment with approved residential plans and street-level commercial space.
Where is this mixed-use property located?
The property is located at 4-12 Parker St Gardner, MA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Approved plans for 16 residential units and 4 street‑level commercial units; More than 13,000 SF mixed‑use building built in 1900; New roof, windows, exterior siding work, and significant residential framing completed
