Building Details

Building Size 3,618 SF

Year Built 1900

Stories 7

Listed By: Debbie Consalvo Show Phone

Source: Evrealestate

Added: Sep 22 Changed: Sep 24 Last Checked: Sep 24 at 2:46PM

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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 Debbie Consalvo

Investment Insights

Based on property information with market context.

Built in 1900, this 3,618-square-foot residential income property is located at 40 Central St in West Boylston, Massachusetts. Interior features include wall units, natural gas forced-air service, and a full basement with dirt and concrete flooring. A range, refrigerator, dishwasher, and gas water heater are also present.

The property is zoned B and has off-street parking and rain gutters. Access from I-190 is via Exit 5 for Route 140/West Boylston.

Key Highlights

• 3,618 square feet; built in 1900
• Zoned B
• Full basement with dirt and concrete flooring

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

$42,562

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

5.39%

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%

$851,240 $851.2K

Cap Rate 7%

$608,029 $608.0K

Cap Rate 9%

$472,911 $472.9K

Market Conditions

NOI Build-Up for 3,618 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

$79.5K $21.96/SF

− Vacancy

−$2.1K −$0.57/SF

EGI

$77.4K $21.39/SF

− OpEx

−$34.8K −$9.63/SF

NOI

$42.6K $11.76/SF

Area

Worcester County, MA

Vacancy

2.60%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

45.00%

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%

$851,240

Cap Rate 7%

$608,029

Cap Rate 9%

$472,911

Alternative Uses

Best Use

Apartment 5plus

$608.0K

$532.0K – $709.4K (±1% cap)

NOI $42,562 @ 7.0% cap · market cap 5.39%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.24M

$1.08M – $1.44M (±1% cap)

NOI $86,485 @ 7.0% cap · market cap 10.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Parking Lot & Garage Law Firm Locksmith Bakery Big Box & Wholesale Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

239

Businesses Nearby

Explore this area Business Placement

Demographics for 01583, MA

7,652

Population

2,946

Households

2.6

Avg Household Size

45

Median Age

42%

College-Educated

92%

High-School Grad

12.6 sq mi

ZIP Area

607

Density / Sq Mi

$100,427

Median Household Income

$58,724

Median Earnings

$1,248

Median Rent

$399,700

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Residential income property - The building includes natural gas forced-air service, wall units, and off-street parking.

Where is this residential income property located?

The property is located at 40 Central St West Boylston, MA.

What is the asking price?

The asking price for this property is $789,999.

What are key features of this property?

This property features: 3,618 square feet; built in 1900; Zoned B; Full basement with dirt and concrete flooring