Mixed-Use Property with Drive-In
New
For Sale
$985,000
8 Donnelly Road, Spencer, MA 01562
Versatile commercial layout with multiple occupied units, paved parking, and zoning listed as legal conforming.
Property Size8,014 SF
Lot Size1.30 Acres
Days on Market3
Property Features for 8 Donnelly Road
General Information
Standard status
Active
Size
8,014 SF
Lot size
1.30 Acres
Property subtype
Commercial
Occupancy
100%
Warehouse & Industrial
Warehouse Space
3,744 SF
Office Build-Out
1,870 SF
Drive-In Doors
4
Taxes and HOA fees
Annual Taxes
$5,170
Building Details
Building Size
8,014 SF
Year Built
1972
Tenancy
Multi
Listing Agency:
ERA Key Realty Services- Spenc
Listed By:
Donna Flannery · License #9004142
(508) 885-6665
Source:
Classifiedrealtygroup
Added: Sep 22
Last Checked: Sep 24 at 7:10AM
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 ERA Key Realty Services- Spenc
Investment Insights
Based on property information with market context.
This mixed-use commercial property contains 8,014 square feet across approximately 1.3 acres. The layout includes approximately 3,744 SF of warehouse area, 1,870 SF of offices, and a 2,400 SF daycare unit, along with four drive-in bays and five restrooms. A level paved site provides approximately 21+ parking spaces. Constructed in 1972, the property has received additions over time and offers a flexible configuration for its current commercial uses.
Three tenants at will currently occupy the buildings, including a daycare, warehouse/office operation, and another established commercial business. The property is located at 8 Donnelly Road in Spencer, with access to major routes and a surrounding mix of commercial and residential properties. Zoning is listed as legal conforming.
Three tenants at will currently occupy the buildings, including a daycare, warehouse/office operation, and another established commercial business. The property is located at 8 Donnelly Road in Spencer, with access to major routes and a surrounding mix of commercial and residential properties. Zoning is listed as legal conforming.
Key Highlights
- 8,014 SF mixed‑use commercial property on approximately 1.3 acres
- Approximately 3,744 SF of warehouse space, 1,870 SF of office space, and 2,400 SF daycare unit
- Four drive‑in bays and five restrooms
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
$72,276
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
7.34%
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%
$1,445,520
$1.4M
Cap Rate 7%
$1,032,514
$1.0M
Cap Rate 9%
$803,067
$803.1K
Market Conditions
NOI Build-Up for 8,014 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
$125.0K $15.60/SF
− Vacancy
−$9.4K −$1.17/SF
EGI
$115.6K $14.43/SF
− OpEx
−$43.4K −$5.41/SF
NOI
$72.3K $9.02/SF
Area
Worcester County, MA
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,445,520
Cap Rate 7%
$1,032,514
Cap Rate 9%
$803,067
Alternative Uses
Best Use
Warehouse
$1.33M
$1.17M – $1.56M
NOI $93,383 @ 7.0% cap · market cap 9.48%
Second Best
Mixed Use
$1.03M
$903.5K – $1.20M
NOI $72,276 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$2.74M
$2.39M – $3.19M
NOI $191,567 @ 7.0% cap · market cap 19.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Drive-in doors
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 01562, MA
11,992
Population
5,788
Households
2.1
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
32.9 sq mi
ZIP Area
364
Density / Sq Mi
$79,086
Median Household Income
$49,131
Median Earnings
$1,085
Median Rent
$368,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial layout with multiple occupied units, paved parking, and zoning listed as legal conforming.
Where is this mixed-use property located?
The property is located at 8 Donnelly Road Spencer, MA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 8,014 SF mixed‑use commercial property on approximately 1.3 acres; Approximately 3,744 SF of warehouse space, 1,870 SF of office space, and 2,400 SF daycare unit; Four drive‑in bays and five restrooms
