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    Property profile & analytics

    366 Southbridge St Auburn, MA 01501

    • Retail properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 366 Southbridge St

    Property type
    Retail properties

    Description

    This exceptional retail opportunity presents a 22,000 square foot junior box space with a full-height, full-load 22,000 square foot mezzanine, offering significant expansion potential. Located within a Shaw's-anchored shopping center in Auburn, Massachusetts, this property benefits from its strategic position adjacent to the new Auburn High School campus and directly across from the Simon Properties Auburn Mall. The plaza enjoys high visibility and accessibility, situated directly off exit 7A of I-290, a major thoroughfare with exceptional traffic counts. Southbridge Street boasts an average annual daily traffic (AADT) of 15,000 vehicles, while I-290 sees an impressive 73,000 AADT. The property is a single-tenant space, offering flexibility and control. The building features elevators and is classified as a junior box retail space within a grocery-anchored center in Worcester County. The total available space ranges from 11,000 to 44,000 square feet, providing options for various retail concepts. This prime location, combined with the substantial space and high traffic volume, makes this an ideal investment for discerning businesses seeking a strong presence in a thriving community. The property's address is 366 Southbridge Street, Auburn, MA 01501.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8373
    Latitude
    42.2047

    Comparable in this City

    • Value Estimation
      $3,935,000
      25,148 SF

      460 Southbridge St

      DEPARTMENT STORE • 25,148 SF
      460 Southbridge St, Auburn, MA 01501-2442
      View Details
    • Value Estimation
      $1,520,000
      11,338 SF

      499 Washington St

      DEPARTMENT STORE • 11,338 SF
      499 Washington St, Auburn, MA 01501-2740
      View Details
    • Value Estimation by Request
      10,268 SF

      773 Southbridge St

      DEPARTMENT STORE • 10,268 SF
      773 Southbridge St, Auburn, MA 01501-1322
      View Details
    • Value Estimation by Request
      7,186 SF

      683 Southbridge St

      DEPARTMENT STORE • 7,186 SF
      683 Southbridge St, Auburn, MA 01501-1833
      View Details
    • Value Estimation by Request
      12,488 SF

      59-61 Auburn St

      Office Properties & Spaces • 12,488 SF
      59-61 Auburn St, Auburn, MA 01501
      View Details
    • Value Estimation
      $590,000
      3,900 SF

      714 Southbridge St

      DEPARTMENT STORE • 3,900 SF
      714 Southbridge St, Auburn, MA 01501-1835
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,000 SF

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    • $3,000,000
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    • $950,000
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    • $1,399,900

      Fully Leased Auburn Center Property

      Fully leased 6-unit commercial property in a high-visibility location.
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    • $4,950,000
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      Prime Retail Investment Opportunity

      Exceptional retail property in Auburn's premier retail corridor.
      470 Southbridge St, Auburn, MA 01501
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    Similar Nearby for Lease

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      165,120 SF

      Prime Auburn Retail Space

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      21,000 SF

      Auburn Warehouse - 21,000 SF

      Prime Auburn location, 21,000 sq ft warehouse, ample parking.
      440 Washington St, Auburn, MA 01501
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    • $4,000 /Mo
      2,558 SF

      Flexible Commercial Space on Route 20

      2,500 sq ft Auburn building, ideal for retail/office.
      8 Washington St, Auburn, MA 01501
      View Details
    • $16 SF/Yr
      44,000 SF

      Auburn Retail Opportunity For Lease

      Junior box retail space available in Shaw's anchored shopping center.
      366-368 Southbridge St, Auburn, MA 01501
      View Details
    • $16 SF/Yr
      80,594 SF

      Auburn Retail Opportunity Near Highway

      Retail space available in Shaw's anchored shopping center.
      366 Southbridge Street Ct, Auburn, MA 01501
      View Details
    • $12 SF/Yr
      6,860 SF

      Vintage Retail Space For Sublease

      6,860+/- SF retail space with visibility from I-290.
      6 Johnson St, Auburn, MA 01501
      View Details
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    366 Southbridge St
    Auburn, MA 01501
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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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