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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    159 Chestnut St Ashland, MA 01721

    • Manufacturing properties
    • 21,600 SF
    • 2.52 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1022376
    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.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 159 Chestnut St

    Year built
    1970
    Lot size
    2.52 lot acres
    Property size
    21,600 SF
    Zone code
    30
    Property type
    Manufacturing properties
    APN
    ASHL M:020.0 B:0035 L:0000.0
    APU
    ASHLM0200B0035L00000

    Description

    This exceptional property at 159 Chestnut Street in Ashland, Massachusetts offers 11,000 square feet of immediately available office and flex lab space for lease. Located in Middlesex County, this two-story building totals 21,600 square feet and sits on a 2.58-acre lot. The space is ideal for a variety of uses, with a minimum divisible space of 5,000 square feet and a maximum contiguous space of 11,000 square feet. Ceiling heights range from 8 to 13 feet, providing ample vertical space. The building is zoned for industrial use and boasts robust power capabilities, including 480 AMPS and solar power. Parking is readily available, with a ratio of 3.5 spaces per 1,000 square feet. This is a unique opportunity to secure high-quality office and/or lab space in a desirable location. The property is currently configured as a single suite, offering flexibility for a single tenant or the possibility of subdividing (subject to terms). The zip code is 01721. Don't miss this chance to establish your business in this well-situated Ashland property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,313,000
      Market price range: $512k - $2.74M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,315,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.4541
    Latitude
    42.2531
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH 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
    $17,036
    $729,500
    $557,200
    $1,286,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $12,335,000
      291,513 SF

      200 Homer Ave

      MANUFACTURING (LIGHT) • 291,513 SF
      200 Homer Ave, Ashland, MA 01721-1717
      View Details
    • Value Estimation
      $4,225,000
      35,760 SF

      28 Howe St

      MANUFACTURING (LIGHT) • 35,760 SF
      28 Howe St, Ashland, MA 01721-1305
      View Details
    • Value Estimation
      $1,410,000
      8,720 SF

      200 Pleasant St

      MANUFACTURING (LIGHT) • 8,720 SF
      200 Pleasant St, Ashland, MA 01721-1189
      View Details
    • Value Estimation
      $1,340,000
      16,384 SF

      72 Nickerson Rd

      MANUFACTURING (LIGHT) • 16,384 SF
      72 Nickerson Rd, Ashland, MA 01721-1912
      View Details
    • Value Estimation
      $1,145,000
      9,700 SF

      50 Megunko Rd

      MANUFACTURING (LIGHT) • 9,700 SF
      50 Megunko Rd, Ashland, MA 01721-1415
      View Details
    • Value Estimation
      $3,310,000
      44,654 SF

      160 Megunko Rd, Unit 170

      MANUFACTURING (LIGHT) • 44,654 SF
      160 Megunko Rd, Ashland, MA 01721-1495
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      302,463 SF

      Ashland Multi-Tenant Commercial Center

      Almost 300,000 RSF multi-tenant building in Metrowest corridor.
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    • Contact for pricing
      21,600 SF

      Adaptable Flex Space in Ashland

      5,600 SF flex space with tailboard dock and cold storage.
      159 Chestnut St, Ashland, MA 01721
      View Details
    • $2,345,000
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      Ashland Flex Building For Sale

      8,200 SF flex building with fenced yard in Ashland.
      190 Pleasant St, Ashland, MA 01721
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    • $1,115,000

      Two Homes, One Large Lot

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      Downtown Retail Building with Parking

      Retail building with parking in Wildwood Mixed Use District.
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      Ashland Land Development Opportunity

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      37 James Rd, Ashland, MA 01721
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    Similar Nearby for Lease

    • $10 SF/Yr
      2,000 SF

      Updated Flex Space Available

      2,000 SF updated flex space for rent.
      94-98 Nickerson Rd, Ashland, MA 01721
      View Details
    • Contact for pricing
      16,224 SF

      Office Space in Ashland, MA

      Office space with private offices, breakroom, and bathroom.
      100 Waverly St, Ashland, MA 01721
      View Details
    • $2,500 /Mo
      750 SF

      Ashland Office Center Office Space

      Affordable office spaces with utilities included, near major routes.
      10-50 Main St, Ashland, MA 01721
      View Details
    • Contact for pricing
      49,733 SF

      Ashland Gym Space for Lease

      15,000 SF gym space available in Ashland, Massachusetts.
      290 Eliot St, Ashland, MA 01721
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Ashland Center

      Retail space for lease in a renovated shopping center.
      301-339 Pond St, Ashland, MA 01721
      View Details
    • Contact for pricing
      200,000 SF

      Retail Space in Ashland, MA

      Ground-level retail opportunity in a vibrant, convenient Ashland location.
      100 Chestnut St, Ashland, MA 01721
      View Details
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    159 Chestnut St
    Ashland, MA 01721
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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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