Waterfront Mixed-Use
For Sale
$949,900
Pending
68 - 74 Sturbridge Rd, Charlton, MA 01507
Multiple buildings provide occupied residential units alongside a commercial space and waterfront access.
Property Size5,222 SF
Lot Size1.00 Acre
Days on Market48
Property Features for 68 - 74 Sturbridge Rd
General Information
Standard status
Pending
Size
5,222 SF
Lot size
1.00 Acre
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
2 x studio, 3 x 1BR, 1 x 2BR
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$11,098
Building Details
Building Size
5,222 SF
Year Built
1990
Buildings
4
Stories
6
Units
7
Listing Agency:
(508) 509-3833
Listed By:
George Goulas · License #453003517
(508) 509-3833
Source:
Elliman
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 31 at 5:30PM
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 George Goulas
Investment Insights
Based on property information with market context.
This mixed-use property comprises four buildings on approximately 1 acre with water frontage along Sibley Pond. The two-story commercial building contains approximately 1,904 square feet, a commercial unit leased to a personal training company, and a studio apartment on the upper level. A separate two-story residential building totals approximately 2,340 square feet and includes three units: a studio and one-bedroom unit on the first floor, plus a two-bedroom unit upstairs. The remaining improvements are a detached trailer home of approximately 418 square feet and a detached A-frame home of approximately 560 square feet, each with one bedroom. Combined gross building area is approximately 5,222 square feet.
The property is located at 68–74 Sturbridge Rd in Charlton, Massachusetts, across from Amazon. Occupancy includes 6 residential units and 1 commercial unit. Two billboards are also leased, providing an additional income stream. The buildings were constructed in 1990.
The property is located at 68–74 Sturbridge Rd in Charlton, Massachusetts, across from Amazon. Occupancy includes 6 residential units and 1 commercial unit. Two billboards are also leased, providing an additional income stream. The buildings were constructed in 1990.
Key Highlights
- Four buildings on approximately 1 acre with water frontage on Sibley Pond
- Approximately 5,222 SF of combined gross building area
- 6 residential units and 1 commercial unit; property is fully occupied
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
$61,431
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
6.47%
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%
$1,228,620
$1.2M
Cap Rate 7%
$877,586
$877.6K
Cap Rate 9%
$682,567
$682.6K
Market Conditions
NOI Build-Up for 5,222 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
$114.7K $21.96/SF
− Vacancy
−$3.0K −$0.57/SF
EGI
$111.7K $21.39/SF
− OpEx
−$50.3K −$9.63/SF
NOI
$61.4K $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%
$1,228,620
Cap Rate 7%
$877,586
Cap Rate 9%
$682,567
Alternative Uses
Best Use
Apartment 5plus
$877.6K
$767.9K – $1.02M
NOI $61,431 @ 7.0% cap · market cap 6.47%
Second Best
Mixed Use
$672.8K
$588.7K – $784.9K
NOI $47,096 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,827 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Explore this area
Business Placement
Demographics for 01507, MA
13,315
Population
5,240
Households
2.5
Avg Household Size
44
Median Age
38%
College-Educated
94%
High-School Grad
42.2 sq mi
ZIP Area
316
Density / Sq Mi
$119,809
Median Household Income
$64,911
Median Earnings
$1,215
Median Rent
$405,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple buildings provide occupied residential units alongside a commercial space and waterfront access.
Where is this mixed-use property located?
The property is located at 68 - 74 Sturbridge Rd Charlton, MA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four buildings on approximately 1 acre with water frontage on Sibley Pond; Approximately 5,222 SF of combined gross building area; 6 residential units and 1 commercial unit; property is fully occupied
