Leased Investment Opportunity in
For Sale
$1,350,000
990 S Main St., Athol, MA 01331
Leased residential and commercial units with parking in Athol.
Property Size6,800 SF
Price / SF$198.53
Days on Market182
Property Features for 990 S Main St.
General Information
Standard status
Active
Size
6,800 SF
Property subtype
Commercial
Zoning
CB
Taxes and HOA fees
Annual Taxes
$6,305
Building Details
Building Size
6,800 SF
Year Built
1930
Listing Agency:
Coldwell Banker Realty - Franklin
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 7
Changed: Sep 4
Last Checked: Aug 17 at 10:37AM
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 Coldwell Banker Realty - Franklin
Investment Insights
Based on property information with market context.
This property presents a prime investment opportunity, featuring two leased, deleaded residential units. Each unit includes two parking spaces, providing a total of four parking spaces. Additionally, the property includes a leased auto dealer/detail shop and a leased auto repair garage. The auto dealer is permitted for 80 cars. The property is located in Athol, MA.
Key Highlights
- Prime Investment Opportunity with Multiple Leased Units
- Auto Dealer Permitted for 80 Cars
- Two Leased Residential Units (Deleaded)
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
7.45%
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 7.45%
Second Best
Industrial
$886.8K
$775.9K – $1.03M
NOI $62,075 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,547 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
32k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 44%
McDonald's
Dining
17,707 visits/mo
0.2 miles
Cumberland Farms
Shops & Services
14,171 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- SpeeDee Oil Change & Auto Service — 1587 S Main St, Athol, MA 01331
- Flint's Garage — 990 S Main St, Athol, MA 01331
- Original Tire Co — 443 S Athol Rd, Athol, MA 01331
- Dale's Auto Body & Towing — 25 Bickford Dr, Athol, MA 01331
- Advanced Auto Parts — 63 main st, athol, ma 01331
Frequently Asked Questions
What type of property is this?
Auto shop - Leased residential and commercial units with parking in Athol.
Where is this auto shop located?
The property is located at 990 S Main St. Athol, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime Investment Opportunity with Multiple Leased Units; Auto Dealer Permitted for 80 Cars; Two Leased Residential Units (Deleaded)
