Six-Unit Apartment
For Sale
$875,000
45 Laurel St, Leominster, MA 01453
Corner-lot property with off-street parking and convenient highway access.
Property Size5,166 SF
Price / SF$169.38
Days on Market186
Property Features for 45 Laurel St
General Information
Standard status
Active
Size
5,166 SF
Total Parking Spaces
12
Property subtype
Multi-Family
Zoning
unknwn
Net Operating Income
$71,860
Units
Unit Mix
3 x 2BR, 3 x 1BR
Multifamily Units
6
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,357
Building Details
Building Size
5,166 SF
Year Built
1900
Buildings
1
Stories
5
Listing Agency:
J. Borstell Real Estate, Inc.
(978) 502-8045
Listed By:
Patrick Hermans · License #2244
(254) 383-5521
Source:
Churchillprop
Added: Apr 15
Changed: Oct 6
Last Checked: Oct 16 at 5:52AM
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 J. Borstell Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This six-family apartment property contains 5,166 square feet and was built in 1900. The unit mix includes three 2-bedroom apartments and three 1-bedroom apartments, providing a defined residential configuration within the building. Long-term tenants are in place, and the property has been maintained over time.
Located at 45 Laurel St in Leominster, Massachusetts, the building occupies a corner lot with off-street parking. Highway access is also available from the property, adding a practical transportation feature for occupants. The existing six-unit layout and established tenancy form the core physical and operational characteristics of the asset.
Located at 45 Laurel St in Leominster, Massachusetts, the building occupies a corner lot with off-street parking. Highway access is also available from the property, adding a practical transportation feature for occupants. The existing six-unit layout and established tenancy form the core physical and operational characteristics of the asset.
Key Highlights
- Six‑family apartment property with 5,166 square feet
- Unit mix includes three 2‑bedroom and three 1‑bedroom apartments
- Corner‑lot setting at 45 Laurel St, Leominster, MA 01453
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,773
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,215,460
$1.2M
Cap Rate 7%
$868,186
$868.2K
Cap Rate 9%
$675,256
$675.3K
Market Conditions
NOI Build-Up for 5,166 SF
Gross rent
$113.4K $21.96/SF
− Vacancy
−$2.9K −$0.57/SF
EGI
$110.5K $21.39/SF
− OpEx
−$49.7K −$9.63/SF
NOI
$60.8K $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 Rate 5%
$1,215,460
Cap Rate 7%
$868,186
Cap Rate 9%
$675,256
Alternative Uses
Best Use
Apartment 5plus
$868.2K
$759.7K – $1.01M
NOI $60,773 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,488 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,405
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Corner-lot property with off-street parking and convenient highway access.
Where is this apartment building located?
The property is located at 45 Laurel St Leominster, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Six‑family apartment property with 5,166 square feet; Unit mix includes three 2‑bedroom and three 1‑bedroom apartments; Corner‑lot setting at 45 Laurel St, Leominster, MA 01453
