Building Details

Year Built 1938

Listing Agency: The Stubblebine Company

Listed By: Alan Ringuette · License #MA 9020688 Show Phone

Source: Crexi

Added: Oct 10, 2023 Changed: Oct 31 Last Checked: Oct 30 at 12:34PM

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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 The Stubblebine Company

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Investment Insights

Based on property information with market context.

This industrial property, available for sale, offers 17,000 square feet of space. The property is located in Lunenburg, Massachusetts.

Key Highlights

• For sale
• Year built: 1938

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$155,188

Cap Rate

3.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,103,760 $3.1M

Cap Rate 7%

$2,216,971 $2.2M

Cap Rate 9%

$1,724,311 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 17,000 SF

Gross rent

$234.6K $13.80/SF

− Vacancy

−$12.9K −$0.76/SF

EGI

$221.7K $13.04/SF

− OpEx

−$66.5K −$3.91/SF

NOI

$155.2K $9.13/SF

Area

Worcester County, MA

Vacancy

5.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,103,760

Cap Rate 7%

$2,216,971

Cap Rate 9%

$1,724,311

Alternative Uses

Best Use

Industrial

$2.22M

$1.94M – $2.59M (±1% cap)

NOI $155,188 @ 7.0% cap · market cap 3.90%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$5.81M

$5.08M – $6.77M (±1% cap)

NOI $406,368 @ 7.0% cap · market cap 10.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Chapdelaine Truck Center, ... Car Dealership

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Parking Lot & Garage Big Box & Wholesale Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

244

Businesses Nearby

Explore this area Business Placement

Demographics for 01462, MA

11,818

Population

4,711

Households

2.5

Avg Household Size

44

Median Age

45%

College-Educated

94%

High-School Grad

26.6 sq mi

ZIP Area

444

Density / Sq Mi

$109,884

Median Household Income

$58,844

Median Earnings

$1,784

Median Rent

$442,900

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Industrial property - 17,000 square foot industrial property available for purchase.

Where is this industrial property located?

The property is located at 199 Massachusetts Ave Lunenburg, MA.

What is the asking price?

The asking price for this property is $3,975,000.

What are key features of this property?

This property features: For sale; Year built: 1938