435 Lancaster StLeominster, MA 01453

Property Details for 435 Lancaster St

Lot size

5.37 AC

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

LEOM M:0443 B:0001 L:0000

APU

LEOMM0443B0001L0000

Description

This exceptional 20,000-square-foot industrial property, located at 435 Lancaster Street in Leominster, Massachusetts, presents a unique opportunity for businesses seeking versatile space. Situated within the Gateway Business Center complex, this single-tenant building boasts a range of features ideal for manufacturing, flex, warehouse, distribution, or R&D operations. Built in 1972, the property offers a substantial 22-foot clear ceiling height, providing ample room for various industrial processes and storage. Convenient loading and unloading is ensured with one loading dock and three drive-in doors. The space includes 3,000 square feet of finished office space, perfect for administrative functions, and an additional 3,600 square feet of unfinished mezzanine space, offering potential for expansion or customized storage solutions. The property's 400-amp, 240-volt power supply ensures sufficient electrical capacity for most industrial needs. The property's zoning permits a variety of light industrial uses, including assembly, wholesale supply, and other similar operations. Its strategic location along the Route 2 corridor provides excellent access to major transportation routes, enhancing logistical efficiency. This property is an ideal solution for businesses seeking a functional, well-located industrial space in a thriving Massachusetts market. The zip code is 01453.

• CAP approach

  CAP return

  Valuation

  6%

  $47,955,100

  6.5%

  $44,266,244

  7%

  $41,104,372

• Comparable approach

  Method

  Valuation

  Relative Method

  $47,373,572

  Geo Method

  $47,373,572

• Alternative Use

  Use

  Valuation

  Residential

  $44,266,244

  Hospitality

  $40,547,644

  Educational

  $33,735,164

  Medical

  $34,895,368

  Retail

  $52,476,920

Location Insight

City

Leominster

County

Worcester

State

Massachusetts

Latitude

42.512

Longitude

-71.7438

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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