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Property profile & analytics
OFF-MARKET
Estimated value
$4,235,000
Manufacturing properties
154 Pioneer Dr, Leominster, MA 01453-3474
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1900857
Property summary
AI-generated overview
This exceptional Class A property, located at 154 Pioneer Drive in Leominster, Massachusetts, offers 55,330 square feet of versatile flex space ideal for manufacturing, distribution, or office use. Built in 1980 and situated on 5 acres in Worcester County, this multi-tenant building provides ample space for a variety of business needs. Currently, one 12,780 square foot space is available. The property enjoys a strategic location, just 1.2 miles from Route 2 access, ensuring convenient transportation and logistics. This prime location places the property amongst established corporate neighbors including AlphaGary, Highline Warren, and F&M Tool and Plastics. Employees and clients will appreciate the nearby amenities, including Dunkin Donuts and Mobile, as well as the convenient access to Orchard Hill Park, home to big-box retailers such as Target, Kohl's, and Dick's Sporting Goods. This property presents a rare opportunity to secure a well-located, substantial flex space in a thriving business community. The property's size, location, and amenities make it an attractive option for businesses seeking a high-quality space in a desirable area. Contact us today to learn more about this exceptional opportunity.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1980
Construction
STEEL FRAME
Total area
55,330 SF
Lot
5 ac (217,800 SF)
APN
LEOM M:0463 B:0010 L:0000
UPID
US38-1900857
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Azelis L&MF US & Azelis Essential Chemicals US Industrial Manufacturer Production Facility
-
Azelis Pharma US Chemical Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.11M
Blend (final)
Blend
$4.24M
Owner & transaction history
Tcg Properties LLC · 3 yrs held
Tcg Properties LLC
since 2023
Last sale
$4.5M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$7.0M
+73.3%
Apartment house (5+ units)
$6.6M
+64.7%
Commercial (general)
$6.4M
+58.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Leominster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leominster submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,955,000
ML approach
$4,120,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,030,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,985,000
Change: +73% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,640,000
Change: +65% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,365,000
Change: +58% · Conversion: Difficult
Blend value · Realmo final
$4.24M
Range $3.81M – $4.66M · ±10% · vs last sale $4.50M (Jan 6 2023)
Last sale anchor
$4.50M
Jan 6 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$77 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$33,110
Tax year 2024
Assessed value
$2,281,900
Assessed 2024
Previous assessed
$2,171,000
+5.1% YoY
Effective rate
1.45%
On assessed value
Assessed land
$653,800
Assessed improvement
$1,628,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
55,330 SF
Lot
5 ac (217,800 SF)
APN
LEOM M:0463 B:0010 L:0000
UPID
US38-1900857
Jurisdiction
LEOMINSTER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.6M
COMMERCIAL (GENERAL)
Est. value
$6.4M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
5 ac
Current owner
From public records · entity-resolved
Tcg Properties LLC
Entity
Mailing address
154 PIONEER DR, LEOMINSTER, MA 01453-3474
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2023
$4,500,000
Tcg Properties LLC
Monson Companies INC
Quit Claim Arm's Length For Ne States
$3,375,000 · Hilltop National Bank
Jun 25, 2013
—
Monson Co INC
—
Deed Of Trust
related
$125,000 · Worth Funding INC
Aug 14, 2012
—
Monson Chemicals INC
—
Deed Of Trust
related
$50,000 · Wells Fargo Mortgage
May 17, 2004
—
Monson Companies INC
—
Deed Of Trust
related
$19,923,000 · Banknorth NA
Jun 8, 1992
—
Monson Chemicals INC
—
Deed Of Trust
related
$324,002 · Shawmut Bank Of Boston
Oct 20, 1987
$2,000,000
Monson Chemicals INC
Natmar Rlty Co
Grant Deed
$1,660,000 · Zuckerman Family Nomi
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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