Turnkey Salon
For Sale
$174,900
Pending
50 Knowlton St, Gardner, MA 01440
Salon space for sale in central location off Main Street.
Property Size1,081 SF
Lot Size0.06 Acres
Days on Market265
Property Features for 50 Knowlton St
General Information
Standard status
Pending
Size
1,081 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,773
Building Details
Building Size
1,081 SF
Year Built
1935
Listing Agency:
(774) 314-9448
Listed By:
Jim Black Group
(774) 314-9448
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 14 at 10:26AM
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 Jim Black Group
Investment Insights
Based on property information with market context.
This property presents a turnkey salon opportunity in a central location just off Main Street. The spacious property features a large open room suitable for welcoming clients and comes fully equipped with salon essentials. A half bathroom is included for guests and staff. A bonus room provides additional storage or workspace, with a new floor installed in June 2025. The location offers both visibility and accessibility. The property may suit other business ventures; reference the town's bylaws for potential uses.
Key Highlights
- Turnkey salon opportunity: Fully equipped and ready for immediate business operation.
- Central location: Situated just off Main Street, offering high visibility and accessibility.
- Spacious open room: Designed to comfortably accommodate clients.
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
$15,985
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
9.14%
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%
$319,700
$319.7K
Cap Rate 7%
$228,357
$228.4K
Cap Rate 9%
$177,611
$177.6K
Market Conditions
NOI Build-Up for 1,081 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
$23.3K $21.60/SF
− Vacancy
−$514 −$0.48/SF
EGI
$22.8K $21.12/SF
− OpEx
−$6.9K −$6.34/SF
NOI
$16.0K $14.79/SF
Area
Worcester County, MA
Vacancy
2.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$319,700
Cap Rate 7%
$228,357
Cap Rate 9%
$177,611
Alternative Uses
Best Use
Retail
$228.4K
$199.8K – $266.4K
NOI $15,985 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$369.1K
$323.0K – $430.7K
NOI $25,840 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
86k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Groceries 32%
Dining 19%
Hannaford
Groceries
27,881 visits/mo
0.4 miles
Cumberland Farms
Shops & Services
18,065 visits/mo
0.2 miles
Dunkin' Donuts
Dining
8,495 visits/mo
0.3 miles
Dunkin' Donuts
Dining
7,518 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,603 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Salon space for sale in central location off Main Street.
Where is this retail space located?
The property is located at 50 Knowlton St Gardner, MA.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Turnkey salon opportunity: Fully equipped and ready for immediate business operation.; Central location: Situated just off Main Street, offering high visibility and accessibility.; Spacious open room: Designed to comfortably accommodate clients.
