Flex Space with
For Sale
$299,900
Pending
885 Main St #5, Tewksbury, MA 01876
Versatile commercial condo with client-facing offices, adaptable meeting space, storage, kitchen, and two bathrooms.
Property Size1,974 SF
Days on Market139
Property Features for 885 Main St #5
General Information
Standard status
Pending
Size
1,974 SF
Property subtype
Commercial
Zoning
IL, Legal Conforming
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
656 SF
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$4,460
Building Details
Year Built
1987
Listing Agency:
J. Borstell Real Estate, Inc.
(978) 502-8045
Listed By:
Jeffrey Borstell
(978) 502-8045
Source:
Aucoinryanrealty
Added: Apr 14
Changed: Aug 29
Last Checked: Apr 24 at 6:25AM
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 J. Borstell Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1,974-square-foot commercial condo combines a bright showroom with a welcoming front office and adaptable supporting areas. The rear room can serve as meeting space, additional office area, or expanded storage. A 656-square-foot storage area with a garage door provides dedicated room for supplies and equipment. The property also includes a breakroom with kitchen and two bathrooms.
The property is situated along Route 38 with proximity to Routes 93 and 495, supporting access for staff, clients, and deliveries. Built in 1987, the space offers a flexible configuration for office, showroom, storage, and other commercial functions supported by the existing layout.
The property is situated along Route 38 with proximity to Routes 93 and 495, supporting access for staff, clients, and deliveries. Built in 1987, the space offers a flexible configuration for office, showroom, storage, and other commercial functions supported by the existing layout.
Key Highlights
- 1,974‑square‑foot commercial condo
- 656‑square‑foot storage area with garage door
- Bright showroom and front office for customer‑facing operations
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
$20,997
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
7.00%
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%
$419,940
$419.9K
Cap Rate 7%
$299,957
$300.0K
Cap Rate 9%
$233,300
$233.3K
Market Conditions
NOI Build-Up for 1,974 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
$31.7K $16.08/SF
− Vacancy
−$1.7K −$0.88/SF
EGI
$30.0K $15.20/SF
− OpEx
−$9.0K −$4.56/SF
NOI
$21.0K $10.64/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
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%
$419,940
Cap Rate 7%
$299,957
Cap Rate 9%
$233,300
Alternative Uses
Best Use
Office B
$894.8K
$783.0K – $1.04M
NOI $62,636 @ 7.0% cap · market cap 20.89%
Second Best
Industrial
$300.0K
$262.5K – $350.0K
NOI $20,997 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,802 @ 7.0% cap · market cap 27.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01876, MA
31,105
Population
12,212
Households
2.5
Avg Household Size
46
Median Age
41%
College-Educated
93%
High-School Grad
20.8 sq mi
ZIP Area
1,495
Density / Sq Mi
$126,795
Median Household Income
$65,008
Median Earnings
$2,248
Median Rent
$546,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Battlegreen Food Services — Tewksbury, MA 01876
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial condo with client-facing offices, adaptable meeting space, storage, kitchen, and two bathrooms.
Where is this flex space located?
The property is located at 885 Main St #5 Tewksbury, MA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,974‑square‑foot commercial condo; 656‑square‑foot storage area with garage door; Bright showroom and front office for customer‑facing operations
