Flex Space with Oversized Garage
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For Sale
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400 Matthews St. Unit B2U4, Gardner, MA 01440
A 2023 business park unit offers service infrastructure and access to outside storage.
Property Size1,300 SF
Price / SF$1.15
Days on Market3
Property Features for 400 Matthews St. Unit B2U4
General Information
Standard status
Active
Size
1,300 SF
Total Parking Spaces
2
Property subtype
Commercial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Drive-In Doors
1
Three-Phase Power
Yes
Amenities
restroom
3 phase power
floor drain
gas and oil separator
overhead garage door
outside storage space
Building Details
Year Built
2023
Listing Agency:
LAER Realty Partners
(978) 537-4971
Listed By:
Tracy Sladen
(978) 870-7572
Source:
Lockandkeyre
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:34AM
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 1,300-square-foot flex unit was built in 2023 and includes a restroom, floor drain, gas and oil separator, and a 12-by-16-foot overhead door. Three-phase power is available, and the unit has two exterior parking spaces. Outside storage can also be obtained.
Water, trash service, snow plowing, and exterior upkeep are included. The occupant is responsible for heat, individually metered electricity, and a maintenance and cleaning fee. The business park is minutes from Route 2.
Water, trash service, snow plowing, and exterior upkeep are included. The occupant is responsible for heat, individually metered electricity, and a maintenance and cleaning fee. The business park is minutes from Route 2.
Key Highlights
- 1,300‑square‑foot flex unit in a business park established in 2023
- 12‑by‑16‑foot overhead garage door
- Three‑phase power available; unit includes a floor drain and gas/oil separator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,867
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,340
$237.3K
Cap Rate 7%
$169,529
$169.5K
Cap Rate 9%
$131,856
$131.9K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$17.9K $13.80/SF
− Vacancy
−$987 −$0.76/SF
EGI
$17.0K $13.04/SF
− OpEx
−$5.1K −$3.91/SF
NOI
$11.9K $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 Rate 5%
$237,340
Cap Rate 7%
$169,529
Cap Rate 9%
$131,856
Alternative Uses
Best Use
Retail
$274.6K
$240.3K – $320.4K
NOI $19,224 @ 7.0% cap · market cap 1,281.60%
Second Best
Warehouse
$216.4K
$189.4K – $252.5K
NOI $15,148 @ 7.0% cap · market cap 1,009.87%
Theoretical Best
Office A
$443.9K
$388.4K – $517.9K
NOI $31,075 @ 7.0% cap · market cap 2,071.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - A 2023 business park unit offers service infrastructure and access to outside storage.
Where is this flex space located?
The property is located at 400 Matthews St. Unit B2U4 Gardner, MA.
What are key features of this property?
This property features: 1,300‑square‑foot flex unit in a business park established in 2023; 12‑by‑16‑foot overhead garage door; Three‑phase power available; unit includes a floor drain and gas/oil separator
