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    Historic Bowling Alley Rehabbing Title is generated by Realmo AI

    78 Daniels, Fitchburg, MA 01420

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    For Sale
    $495,000

    Two historic, attached buildings require total rehab and are offered as-is for cash buyers planning a full restoration.

    Type:Commercial
    Property size:
    18,652 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $26/SF
    Added:
    Jan 13, 2025
    Days on Market:
    507
    Last Refresh:
    Jun 3 at 1:58 am

    Property Features for 78 Daniels

    General Information

    Standard status
    Active
    Size
    18,652 SF
    Lot size
    0.30 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Thomas Henshaw

    Listing office Bel Air Properties

    Listing date Jan 13, 2025

    Source Jbarrettrealty

    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 Bel Air Properties

    HighLights

    • Two historic attached buildings: former bowling alley at 78 Daniels St and mixed‑use building at 110 Cleghorn St
    • Offered as‑is with need for total rehab; cash sale only with no bank financing
    • Combined lot size of both properties: 13,207 SF (also stated in total for both lots)
    • Total living area for both buildings: 18,652 SF
    • Both buildings total 5 levels
    • Combined features include 6 half baths

    Overview

    This offering includes two historic structures: a former bowling alley at 78 Daniels St and an attached mixed-use building at 110 Cleghorn Street. The properties total 13,207 square feet of lot area and 18,652 square feet of living area across 5 total levels, with 6 half baths in all. The seller advises that both buildings require total rehabilitation, and notes that there is no lighting inside. Buyers should bring a flashlight for interior showings, and all information is provided “AS IS,” with no warranties from the seller or seller representatives.

    The properties are located at 78 Daniels St in Fitchburg, MA 01420. The seller is marketing the combined package as a cash quick sale only, with no bank financing, and expects closing within 30 to 45 days. Prospective buyers and their agents are encouraged to complete their own due diligence before proceeding.

    This asset is best suited for real estate developers and investors looking for an opportunity to reposition and restore a multi-building, mixed-use configuration. Given the condition and need for a full rehab, buyers should plan for significant improvements and confirm all intended use considerations during due diligence.
    Location Intelligence

    Current Use by Public Records

    Bowling alleys

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fitchburg
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8180059
    Latitude
    42.5804872

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    FAQs

    What type of property is this?
    Bowling alley - Two historic, attached buildings require total rehab and are offered as-is for cash buyers planning a full restoration.
    Where is this bowling alley located?
    The property is located at 78 Daniels Fitchburg, MA.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Two historic attached buildings: former bowling alley at 78 Daniels St and mixed‑use building at 110 Cleghorn St; Offered as‑is with need for total rehab; cash sale only with no bank financing; Combined lot size of both properties: 13,207 SF (also stated in total for both lots)
    We can help!
    Listing Contact
    Thomas Henshaw
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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