Industrial Flex Property with
For Sale
$1,000,000
75 Walnut St., Fitchburg, MA 01420
Two-building industrial flex setup with multiple garage doors and a range of ceiling heights for manufacturing and equipment use.
Property Size23,570 SF
Price / SF$367.65
Days on Market94
Property Features for 75 Walnut St.
General Information
Standard status
Active
Size
23,570 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
38 ft
Drive-In Doors
4
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$7,657
Building Details
Building Size
23,570 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
LAER Realty Partners
Listed By:
Michele Mathieu · License #9036915
(617) 304-2770
Source:
Classifiedrealtygroup
Added: Jun 2
Changed: Aug 31
Last Checked: Sep 2 at 2:25PM
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
Investment Insights
Based on property information with market context.
This for-sale industrial flex property consists of two buildings on one lot, totaling 10–11 rentable units. The main building includes multiple units with garage-door access, with ceiling heights ranging from 8 to 38 feet. Several units include 12 total garage doors (with 4 drive-in bays), and the property also provides office space along with one full bath and three half baths. Utilities are mostly separate between units to support streamlined tenant management. The second building is approximately 2,720 square feet and does not have 3-phase electrical service. Unit-level configurations include a double-wide garage, a front entrance garage with a rear exit, and an additional single-garage access unit.
Located at 75 Walnut St., Fitchburg, MA 01420, the property’s design supports operations that need frequent roll-up door access for equipment and storage. The garage-door-heavy unit mix is well suited to tenant setups that prioritize hands-on logistics and in-bay movement.
Because the buildings are configured with multiple units and broad garage access, the property can fit a variety of business models such as fabrication, light industrial operations, and heavy equipment use (based on the existing door and clearance characteristics). The available office space and mostly separate utilities further support mixed-tenant operations or an owner-operator approach where one unit is used while others are leased.
Located at 75 Walnut St., Fitchburg, MA 01420, the property’s design supports operations that need frequent roll-up door access for equipment and storage. The garage-door-heavy unit mix is well suited to tenant setups that prioritize hands-on logistics and in-bay movement.
Because the buildings are configured with multiple units and broad garage access, the property can fit a variety of business models such as fabrication, light industrial operations, and heavy equipment use (based on the existing door and clearance characteristics). The available office space and mostly separate utilities further support mixed-tenant operations or an owner-operator approach where one unit is used while others are leased.
Key Highlights
- Industrial property built in 1900 with two buildings on one lot
- Total of 10–11 rentable units, with nearly every unit (except the office) having 12 total garage doors
- 12 garage doors include 4 drive‑in bays for equipment and vehicle access
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
$29,915
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
2.99%
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%
$598,300
$598.3K
Cap Rate 7%
$427,357
$427.4K
Cap Rate 9%
$332,389
$332.4K
Market Conditions
NOI Build-Up for 2,720 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
$49.0K $18.00/SF
− Vacancy
−$2.9K −$1.08/SF
EGI
$46.0K $16.92/SF
− OpEx
−$16.1K −$5.92/SF
NOI
$29.9K $11.00/SF
Area
Worcester County, MA
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$598,300
Cap Rate 7%
$427,357
Cap Rate 9%
$332,389
Alternative Uses
Best Use
Flex RnD
$427.4K
$373.9K – $498.6K
NOI $29,915 @ 7.0% cap · market cap 2.99%
Second Best
Industrial
$354.7K
$310.4K – $413.8K
NOI $24,830 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$928.8K
$812.7K – $1.08M
NOI $65,019 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
38 ft
Clear height
4
Drive-in doors
Multi-tenant
Tenancy
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01420, MA
41,940
Population
17,998
Households
2.3
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
30.1 sq mi
ZIP Area
1,393
Density / Sq Mi
$70,334
Median Household Income
$41,753
Median Earnings
$1,131
Median Rent
$294,600
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?
Flex space - Two-building industrial flex setup with multiple garage doors and a range of ceiling heights for manufacturing and equipment use.
Where is this flex space located?
The property is located at 75 Walnut St. Fitchburg, MA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Industrial property built in 1900 with two buildings on one lot; Total of 10–11 rentable units, with nearly every unit (except the office) having 12 total garage doors; 12 garage doors include 4 drive‑in bays for equipment and vehicle access
