Fully Leased Flex
For Sale
Contact for pricing
Pending
11 Willow Rd, Ayer, MA 01432
27,626 SF building, fully leased with owner occupancy potential.
Property Size27,626 SF
Days on Market1480
Property Features for 11 Willow Rd
General Information
Standard status
Pending
Size
27,626 SF
Class
B
Property subtype
Industrial
Investment Type
Owner/User
Building Details
Year Built
1986
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Omni Properties
(978) 369-4884
Listed By:
Anne Flanagan · License #MA 9033032
Source:
Crexi
Added: Aug 2, 2022
Changed: Aug 16
Last Checked: Aug 20 at 9:57AM
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 Omni Properties
Investment Insights
Based on property information with market context.
This 27,626 square foot building presents an opportunity for either an owner-user or an investor. The property is currently fully leased, but approximately 13,626 rentable square feet could be available for owner occupancy. The building features two loading docks and two drive-in doors, along with ample parking. It is equipped with 600 Amps of 480v power and has municipal water and sewer services. The warehouse area includes restrooms with lockers and showers. The space is a combination of high bay space, flex space, and second-floor office space.
Key Highlights
- Fully leased 27,626 SF building offering an investment opportunity.
- 13,626 +/- RSF potentially available for owner occupancy.
- Features 2 loading docks and 2 drive‑in 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
$293,856
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
9.18%
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%
$5,877,120
$5.9M
Cap Rate 7%
$4,197,943
$4.2M
Cap Rate 9%
$3,265,067
$3.3M
Market Conditions
NOI Build-Up for 27,626 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
$444.2K $16.08/SF
− Vacancy
−$24.4K −$0.88/SF
EGI
$419.8K $15.20/SF
− OpEx
−$125.9K −$4.56/SF
NOI
$293.9K $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%
$5,877,120
Cap Rate 7%
$4,197,943
Cap Rate 9%
$3,265,067
Alternative Uses
Best Use
Industrial
$4.20M
$3.67M – $4.90M
NOI $293,856 @ 7.0% cap · market cap 9.18%
Second Best
Flex RnD
$1.96M
$1.71M – $2.28M
NOI $137,004 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$16.35M
$14.31M – $19.08M
NOI $1,144,814 @ 7.0% cap · market cap 35.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01432, MA
8,221
Population
3,770
Households
2.2
Avg Household Size
43
Median Age
41%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
967
Density / Sq Mi
$105,142
Median Household Income
$66,659
Median Earnings
$1,373
Median Rent
$419,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 27,626 SF building, fully leased with owner occupancy potential.
Where is this flex space located?
The property is located at 11 Willow Rd Ayer, MA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Fully leased 27,626 SF building offering an investment opportunity.; 13,626 +/- RSF potentially available for owner occupancy.; Features 2 loading docks and 2 drive‑in doors.
