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    Professional Office Space in Auburn Title is generated by Realmo AI

    Midstate Drive, Auburn, MA 01501

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    Modern office suites available with convenient highway access and ample parking.

    Type:Office
    Added:
    Oct 14, 2024
    Days on Market:
    600
    Last Refresh:
    May 12 at 10:47 pm

    Property Features for Midstate Drive

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at Midstate Drive Contact us

    Building 15 - Suite 202 $17/Mo

    Size
    804 SF
    Type
    Office
    Lease Ratet$17.50 SF/yrnLease TermtNegotiable
    Contact us

    Building 27-B - Suite 200 $19/Mo

    Size
    9,500 SF
    Type
    Office
    Open office space with three (3) private offices, can be subdivided down to ±5,000...
    show more
    Contact us

    Building 27A - Suite 200 $19/Mo

    Size
    11,280 SF
    Type
    Office
    Subdividable space with private offices, conference room space, training areas, and...
    show more
    Contact us

    Building 15 - Suite 214 $17/Mo

    Size
    1,092 SF
    Type
    Office
    Open office space with private office and IT/storage room.
    Contact us

    We can help!

    Listing Contact
    Drew Higgins
    Drew Higgins

    Listing agent Drew Higgins License #MA 9515069

    Listing office Kelleher & Sadowsky Associates Inc

    Listing date Oct 14, 2024

    Source Crexi

    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 Kelleher & Sadowsky Associates Inc

    HighLights

    • Easily accessible location just off Route 12 and the Mass Pike, providing convenient access throughout Central Massachusetts and New England.
    • Ample parking with over 600 surface spaces.
    • Variety of suites available that can be built‑out and modified for tenant's specific space needs.
    • Well‑maintained modern office buildings.
    • Proximity to amenities including dining and retail (Auburn Mall).
    • Access to local parks and recreation areas.

    Overview

    Professional office space is available for rent at the Midstate Office Park in Auburn, MA. The park consists of five modern office buildings with suites that can be modified to suit each tenant's needs. The property provides over 600 surface parking spaces, which is a ratio of 5 spaces per 1,000 SF. The buildings are well maintained and host a variety of industries. Located just off Route 12 and the Mass Pike, the Midstate Office Park provides easy access throughout Central Massachusetts and the New England region. The location offers convenient access to dining options and the Auburn Mall. Local parks and recreation areas are also nearby.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Auburn
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.855811
    Latitude
    42.187582

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    FAQs

    What type of property is this?
    Office building - Modern office suites available with convenient highway access and ample parking.
    Where is this office building located?
    The property is located at Midstate Drive Auburn, MA.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Easily accessible location just off Route 12 and the Mass Pike, providing convenient access throughout Central Massachusetts and New England.; Ample parking with over 600 surface spaces.; Variety of suites available that can be built‑out and modified for tenant's specific space needs.
    (508) 635-6783 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Drew Higgins
    Drew Higgins
    Real Estate License ID: MA 9515069
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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