Adaptable Retail/Flex Building
For Sale
Contact for pricing
61 Parkhurst Rd, Chelmsford, MA 01824
11,495 SF retail/flex building in Chelmsford, Massachusetts for sale.
Property Size11,495 SF
Price / SF$165.29
Days on Market195
Property Features for 61 Parkhurst Rd
General Information
Standard status
Active
Size
11,495 SF
Class
B
Property subtype
Retail
Zoning
CB
Investment Type
Owner/User
Building Details
Year Built
1976
Buildings
1
Units
3
Listing Agency:
Marcus & Millichap - Boston
(617) 896-7218
Listed By:
Henry McKenney · License #1002173
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 8 at 6:40AM
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 Marcus & Millichap - Boston
Investment Insights
Based on property information with market context.
Located at 61 Parkhurst Road in Chelmsford, Massachusetts, this 11,495-square-foot building offers adaptable retail and flex space. The property is delivered fully vacant and ready for immediate occupancy, presenting an opportunity for an owner-user, investor, or hybrid operator seeking functional space with accessibility. Previously occupied by Middlesex Rental and a dance studio, the building includes two drive-in doors, open floor plates, and flexible layouts suitable for retail, industrial, or flex users. The property is located 0.25 miles from MA-3 and less than two miles from I-495, within a logistics and transportation network. Several national retailers along Drum Hill Road, including Walmart, Hannaford, Starbucks, and Chipotle, are located nearby. Chelmsford's economy has evolved into a modern innovation hub with a diversified employer base across technology, healthcare, education, and manufacturing. This transformation, paired with regional partnerships and technical training pipelines, continues to attract businesses seeking stability, skilled labor, and accessible infrastructure.
Key Highlights
- Adaptable 11,495‑square‑foot retail/flex building suitable for owner‑user, investor, or hybrid operator.
- Delivered fully vacant and ready for immediate occupancy.
- Strategically located 0.25 miles from MA‑3 and less than two miles from I‑495, providing exceptional accessibility.
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
$165,216
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
8.70%
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%
$3,304,320
$3.3M
Cap Rate 7%
$2,360,229
$2.4M
Cap Rate 9%
$1,835,733
$1.8M
Market Conditions
NOI Build-Up for 11,495 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
$252.4K $21.96/SF
− Vacancy
−$16.4K −$1.43/SF
EGI
$236.0K $20.53/SF
− OpEx
−$70.8K −$6.16/SF
NOI
$165.2K $14.37/SF
Area
Middlesex County, MA
Vacancy
6.50%
Lease Rate
$21.96 /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%
$3,304,320
Cap Rate 7%
$2,360,229
Cap Rate 9%
$1,835,733
Alternative Uses
Best Use
Retail
$2.36M
$2.07M – $2.75M
NOI $165,216 @ 7.0% cap · market cap 8.70%
Second Best
Industrial
$1.75M
$1.53M – $2.04M
NOI $122,271 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$6.80M
$5.95M – $7.94M
NOI $476,350 @ 7.0% cap · market cap 25.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 01824, MA
26,881
Population
10,301
Households
2.6
Avg Household Size
44
Median Age
57%
College-Educated
96%
High-School Grad
18.1 sq mi
ZIP Area
1,485
Density / Sq Mi
$141,337
Median Household Income
$75,753
Median Earnings
$2,076
Median Rent
$590,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 11,495 SF retail/flex building in Chelmsford, Massachusetts for sale.
Where is this retail space located?
The property is located at 61 Parkhurst Rd Chelmsford, MA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Adaptable 11,495‑square‑foot retail/flex building suitable for owner‑user, investor, or hybrid operator.; Delivered fully vacant and ready for immediate occupancy.; Strategically located **0.25 miles from MA‑3 and less than two miles from I‑495, providing exceptional accessibility.**
