Leased Auto Service and Residential
For Sale
$1,250,000
990 S Main St. Athol, Athol, MA 01331
Leased two residential units and an auto dealer/detail with 80-car permitted capacity, plus dedicated parking for residents.
Property Size6,800 SF
Price / SF$183.82
Days on Market94
Property Features for 990 S Main St. Athol
General Information
Standard status
Active
Size
6,800 SF
Total Parking Spaces
4
Zoning
CB
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,305
Building Details
Building Size
6,800 SF
Year Built
1930
Tenancy
Multi
Listed By:
Jayson LaPlante
(508) 501-1443
Source:
Milestonerealtyinc
Added: Jun 4
Changed: Sep 1
Last Checked: Sep 4 at 2:41AM
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 Jayson LaPlante
Investment Insights
Based on property information with market context.
This property combines leased residential and automotive uses under one ownership. There are two leased, deleaded residential units, with two parking spaces allocated per unit for a total of four parking spaces. The automotive component includes a leased auto dealer/detail and a leased auto repair garage. The auto dealer is permitted for up to 80 cars.
Located at 990 S. Main St., Athol, MA 01331, the site is set up to support both vehicle-oriented operations and on-site residential parking. Call for all showings and questions.
For buyers and investors seeking a multi-use income stream, the structure of leased residential units alongside leased automotive operations can simplify management by consolidating multiple income sources. The presence of a permitted 80-car capacity for the auto dealer may also support vehicle display and staging needs associated with that business model. With tenants in place, this is best suited for investors comfortable evaluating leased cash-flow properties and coordinating access during scheduled showings.
Located at 990 S. Main St., Athol, MA 01331, the site is set up to support both vehicle-oriented operations and on-site residential parking. Call for all showings and questions.
For buyers and investors seeking a multi-use income stream, the structure of leased residential units alongside leased automotive operations can simplify management by consolidating multiple income sources. The presence of a permitted 80-car capacity for the auto dealer may also support vehicle display and staging needs associated with that business model. With tenants in place, this is best suited for investors comfortable evaluating leased cash-flow properties and coordinating access during scheduled showings.
Key Highlights
- Year built: 1930
- Leased residential units: two leased units, with two parking spaces each (4 total dedicated spaces)
- Auto dealer/detail space is leased with permitted capacity for 80 cars
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
$100,554
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
8.04%
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%
$2,011,080
$2.0M
Cap Rate 7%
$1,436,486
$1.4M
Cap Rate 9%
$1,117,267
$1.1M
Market Conditions
NOI Build-Up for 6,800 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
$146.9K $21.60/SF
− Vacancy
−$3.2K −$0.48/SF
EGI
$143.6K $21.12/SF
− OpEx
−$43.1K −$6.34/SF
NOI
$100.6K $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%
$2,011,080
Cap Rate 7%
$1,436,486
Cap Rate 9%
$1,117,267
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.68M
NOI $100,554 @ 7.0% cap · market cap 8.04%
Second Best
Multifamily LT 5
$1.31M
$1.15M – $1.53M
NOI $91,920 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,547 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01331, MA
13,656
Population
6,050
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
89%
High-School Grad
54.2 sq mi
ZIP Area
252
Density / Sq Mi
$68,345
Median Household Income
$42,132
Median Earnings
$1,041
Median Rent
$257,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Leased two residential units and an auto dealer/detail with 80-car permitted capacity, plus dedicated parking for residents.
Where is this auto shop located?
The property is located at 990 S Main St. Athol Athol, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Year built: 1930; Leased residential units: two leased units, with two parking spaces each (4 total dedicated spaces); Auto dealer/detail space is leased with permitted capacity for 80 cars
