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    15 Chocksett Rd, Unit 21 Sterling, MA 01564-2353
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    Property profile & analytics

    15 Chocksett Rd, Unit 21, Sterling, MA 01564-2353

    View on Map
    • Warehouses
    • 119,038 SF
    • 12.17 lot acres
    Off-Market
    Last Sale Sep 30, 2021
    $13,340,000
    Property ID
    US38-1309990
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $13,840,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 15 Chocksett Rd

    Year built
    2016
    Construction
    STEEL FRAME
    Lot size
    12.17 lot acres
    Property type
    Warehouses
    APN
    STER M:00066 L:00022
    APU
    STERM00066L00022

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 30, 2021 $13,340,000 Stag Industrial Hldg LLC Rock Breakers LLC Quit Claim Arm's Length For Ne States —
    Feb 28, 2020 — Rock Breakers LLC — Deed · related $8.5M · Unibank For Savings
    Jun 25, 2014 $525,000 Rock Breakers LLC Richard C Blanchflower Ft Fiduciary Deed $525k · Enterprise Bank & Trust
    Jun 25, 2014 — Rock Breakers LLC Chocksett Road RT Quit Claim Deed · related —
    Mar 11, 2003 $40,000 Richard C Blanchflower Blanchflower,donald Grant Deed · related —
    Apr 14, 1992 $55,000 Donald Blanchflower Stuart,craig Grant Deed —
    Dec 11, 1991 — Richard C Blanchflower — Deed Of Trust · related $143k · Safety Fund National Bank
    May 29, 1990 $15,000 Richard C Blanchflower Laipson,samuel M Grant Deed —
    Nov 14, 1988 $14,000 D J Blanchflower Boston & Maine Corp Grant Deed —
    — — Rock Breakers LLC — Deed Of Trust · related $7.5M · Rollstone Bk&tr

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $13,140,000
      ML approach
      $10,135,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,248,000
      Market price range: $5.42M - $19.2M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $11,945,000
      Current use
      RESTAURANT
      $22,445,000
      Change: +88% Conversion: Difficult
      RETAIL STORES
      $18,675,000
      Change: +56% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $18,265,000
      Change: +53% Conversion: Easy
      OFFICE BUILDING
      $16,185,000
      Change: +36% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $15,025,000
      Change: +26% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $14,280,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $13,100,000
      Change: +10% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sterling
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7431
    Latitude
    42.4496
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $161,147
    $644,500
    $11,462,700
    $12,107,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,475,000
      49,200 SF

      1 Spratt Technology Dr

      WAREHOUSE, STORAGE
      1 Spratt Technology Dr, Sterling, MA 01564-2341
      View Details
    • Value Estimation by Request
      7,500 SF

      3 Northeast Blvd

      Distribution properties
      3 Northeast Blvd, Sterling, MA 01564
      View Details
    • Value Estimation by Request
      3,000 SF

      170 Pratts Jct Rd

      WAREHOUSE, STORAGE
      170 Pratts Jct Rd, Sterling, MA 01564-2373
      View Details
    • Value Estimation
      $780,000
      21,450 SF

      29 Legate Hl Rd

      WAREHOUSE, STORAGE
      29 Legate Hl Rd, Sterling, MA 01564-2369
      View Details
    • Value Estimation
      $605,000
      15,840 SF

      150 Pratts Jct Rd

      WAREHOUSE, STORAGE
      150 Pratts Jct Rd, Sterling, MA 01564-2304
      View Details
    • Value Estimation by Request
      2,400 SF

      4 Spratt Technology Dr

      WAREHOUSE, STORAGE
      4 Spratt Technology Dr, Sterling, MA 01564-2341
      View Details

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    • Contact for pricing
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      Sterling Industrial Building For Sale

      15,000 SF industrial building on 2 acres in Sterling, MA.
      68 Pratts Junction Rd, Sterling, MA 01564
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      Development Opportunity Near Mt. Wachusett

      Historic Sterling Inn and adjacent lot offer redevelopment potential.
      240 Worcester Rd, Sterling, MA 01564
      View Details
    • Contact for pricing

      223 Worcester Rd, Sterling, MA 01564

      Land
      223 Worcester Rd, Sterling, MA 01564
      View Details
    • Contact for pricing
      11,934 SF

      Sterling Inn Redevelopment Opportunity

      Historic Sterling Inn with redevelopment potential on 5.3 acres.
      240 Worcester Rd, Sterling, MA 01564
      View Details
    • Contact for pricing

      135+ Acres Developable Land Parcels

      135.96 acres of developable land across 11 parcels.
      2 Ford Rd, Sterling, MA 01564
      View Details
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    Sterling, MA 01564-2353
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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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    15 Chocksett Rd, Sterling, MA, 01564
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