Main Street Garage/Shop For
For Sale
Contact for pricing
Pending
678 Main St, Clinton, MA 01510
Garage/shop with office space on Main Street.
Property Size1,794 SF
Lot Size0.28 Acres
Days on Market927
Property Features for 678 Main St
General Information
Standard status
Pending
Size
1,794 SF
Lot size
0.28 Acres
Property subtype
Retail
Zoning
comm
Building Details
Year Built
1961
Buildings
1
Stories
1
Units
1
Listing Agency:
RE/MAX JOURNEY
(978) 807-9892
Listed By:
John Hogan · License #MA
Source:
Crexi
Added: Feb 6, 2024
Changed: Aug 8
Last Checked: Aug 20 at 5:44PM
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 RE/MAX JOURNEY
Investment Insights
Based on property information with market context.
This garage/shop with office space is situated on a 12,000+/- square foot lot. Constructed in 1961, the property features concrete block and metal construction. The building offers a 10-12 feet clearance height and is equipped with 200 amps of power, three overhead doors, and natural gas and oil heating. Water and sewer connections are available. Located on the busiest block of Main Street, the property offers maximum visibility and is suitable for various business needs. The building size is 1,794 square feet.
Key Highlights
- High‑traffic location on Main Street's busiest block.
- 12,000+\/- square foot lot.
- Benefit from three overhead doors.
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
$26,529
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
4.83%
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%
$530,580
$530.6K
Cap Rate 7%
$378,986
$379.0K
Cap Rate 9%
$294,767
$294.8K
Market Conditions
NOI Build-Up for 1,794 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
$38.8K $21.60/SF
− Vacancy
−$853 −$0.48/SF
EGI
$37.9K $21.12/SF
− OpEx
−$11.4K −$6.34/SF
NOI
$26.5K $14.79/SF
Area
Worcester County, MA
Vacancy
2.20%
Lease Rate
$21.60 /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%
$530,580
Cap Rate 7%
$378,986
Cap Rate 9%
$294,767
Alternative Uses
Best Use
Retail
$379.0K
$331.6K – $442.2K
NOI $26,529 @ 7.0% cap · market cap 4.83%
Second Best
Industrial
$234.0K
$204.7K – $273.0K
NOI $16,377 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$612.6K
$536.1K – $714.7K
NOI $42,884 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
50k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 42%
Dining 25%
Shops & Services 24%
Home Improvements & Furnishings 9%
Hannaford
Groceries
20,686 visits/mo
0.1 miles
Dunkin' Donuts
Dining
11,155 visits/mo
0.4 miles
Aubuchon Hardware
Home Improvements & Furnishings
4,362 visits/mo
0.5 miles
Sunoco
Shops & Services
3,959 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
3,190 visits/mo
0.1 miles
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Garage/shop with office space on Main Street.
Where is this auto shop located?
The property is located at 678 Main St Clinton, MA.
What is the asking price?
The asking price for this property is $549,800.
What are key features of this property?
This property features: High‑traffic location on Main Street's busiest block.; 12,000+\/- square foot lot.; Benefit from three overhead doors.
