Renovated Restaurant and Office
813-815 Main St Leominster, MA 01453
New
813-815 Main St, Leominster, MA, 01453
$699,000
For Sale
$699,000
Two free-standing buildings are leased to one long-term tenant, with a renovated restaurant and office roof replacement.
Property Size2,982 SF
Price / SF$234.41
Days on Market6
Property Features for 813-815 Main St
General Information
- Standard status
- Active
- Size
- 2,982 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1951
Listing agency
Keller Williams Realty
(857) 498-7037
Listed by
Angela Cui
(857) 498-7037
Source
Liongatere
Added: Jul 17 Updated: Jul 22 at 10:08AM Checked: Jul 22 at 10:08AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Two free-standing commercial buildings are offered for sale at 813-815 Main St in Leominster, MA, leased to the same long-term tenant. The current leases are active, and the tenant is responsible for utilities and snow removal. Together, the buildings generate total monthly gross rent of $4,278.
The larger building is a restaurant space with 2,138 square feet, which underwent a full interior and exterior renovation between 2017 and 2018, including heating, AC, electrical, plumbing, roof, and more. The smaller office building is 844 square feet and received a brand-new roof in 2018.
Both properties provide ample off-street parking on site, supporting convenient day-to-day access for occupants and visitors.
The larger building is a restaurant space with 2,138 square feet, which underwent a full interior and exterior renovation between 2017 and 2018, including heating, AC, electrical, plumbing, roof, and more. The smaller office building is 844 square feet and received a brand-new roof in 2018.
Both properties provide ample off-street parking on site, supporting convenient day-to-day access for occupants and visitors.
Key Highlights
- Two free‑standing commercial buildings on Main Street leased to one long‑term tenant with total monthly gross rent of $4,278
- Restaurant building: 2,138 SF; full interior and exterior renovation completed between 2017–2018 including heating, AC, electrical, plumbing, and roof
- Home office building: 844 SF; brand‑new roof installed in 2018
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.5k | $30.00 |
| − Vacancy | −$17.0k | −$5.70 |
| EGI | $72.5k | $24.30 |
| − OpEx | −$18.1k | −$6.08 |
| NOI | $54.3k | $18.23 |
2,982 SF · lease $30.00/SF/yr · vacancy 19.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$776.4K
$679.3K – $905.8K
NOI $54,347 @ 7.0% cap · market cap 7.77%
Second Best
Specialty Retail
$674.9K
$590.6K – $787.4K
NOI $47,246 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$1.02M
$891.0K – $1.19M
NOI $71,282 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two free-standing buildings are leased to one long-term tenant, with a renovated restaurant and office roof replacement.
Where is this conventional restaurant located?
The property is located at 813-815 Main St Leominster, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two free‑standing commercial buildings on Main Street leased to one long‑term tenant with total monthly gross rent of $4,278; Restaurant building: 2,138 SF; full interior and exterior renovation completed between 2017–2018 including heating, AC, electrical, plumbing, and roof; Home office building: 844 SF; brand‑new roof installed in 2018
