Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    196 New Lancaster Rd, Unit 210 Leominster, MA 01453-4957

    • Commercial real estate
    • 20.30 lot acres
    OFF-MARKET
    Value Estimations
    $670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0405425
    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

    • Texas Roadhouse / Restaurant
    • mass state police / State Police

    Property Details for 196 New Lancaster Rd

    Lot size
    20.30 lot acres
    Property type
    Commercial real estate
    APN
    LEOM M:0300 B:0006 L:0000
    APU
    LEOMM0300B0006L0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $670,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Leominster
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7276
    Latitude
    42.4964
    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
    $259,324
    $8,729,700
    $9,142,400
    $17,872,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2.73 Acres

      20 Adams St

      COMMERCIAL (GENERAL) • 2.73 Acres
      20 Adams St, Leominster, MA 01453-5668
      View Details
    • Value Estimation by Request
      1,235 SF

      285 Central St Ste, Unit 105

      COMMERCIAL CONDOMINUIM • 1,235 SF
      285 Central St Ste, Leominster, MA 01453-6144
      View Details
    • Value Estimation by Request
      1,255 SF

      285 Central St Ste, Unit 117

      COMMERCIAL CONDOMINUIM • 1,255 SF
      285 Central St Ste, Leominster, MA 01453-6144
      View Details
    • Value Estimation
      $1,285,000
      18,191 SF

      7 Park St

      SHOW ROOM, WAREHOUSE • 18,191 SF
      7 Park St, Leominster, MA 01453-5602
      View Details
    • Value Estimation by Request
      26,700 SF

      76 Orchard Hill Park Dr

      Neighborhood centers • 26,700 SF
      76 Orchard Hill Park Dr, Leominster, MA 01453
      View Details
    • Value Estimation by Request
      1,908 SF

      1343 Central St

      SHOW ROOM, WAREHOUSE • 1,908 SF
      1343 Central St, Leominster, MA 01453-5907
      View Details

    Similar Nearby for Sale

    • $1,200,000
      0.30 Acres

      Leominster, MA Lab Facility

      State-of-the-art lab, 6,710 sq ft
      22 Laurel St, Leominster, MA 01453
      View Details
    • $450,000

      Leominster Duplex with Vacant Unit

      Duplex with a vacant four-bedroom unit, ideal for owner-occupancy.
      48 Chestnut St, Leominster, MA 01453
      View Details
    • $685,000

      Leominster Multi-Unit Property For Sale

      Multi-unit property with value-add potential in Leominster, MA.
      59 Church St, Leominster, MA 01453
      View Details
    • $599,000

      Pristine Three-Unit Investment Property

      Three-unit property with upgrades, off-street parking, and income potential.
      39 Laurel St, Leominster, MA 01453
      View Details
    • Contact for pricing
      7,047 SF

      Retail and Multifamily Investment Opportunity

      Retail spaces and multifamily units near retail plazas.
      614 N Main St, Leominster, MA 01453
      View Details
    • $1,050,000

      Leominster Multifamily Investment Opportunity

      Well-maintained, fully leased 6-unit building with strong income potential.
      58 4Th St, Leominster, MA 01453
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,353 SF

      Leominster Retail Development Opportunity

      1.79-acre parcel suitable for retail or mixed-use development.
      609 Main St, Leominster, MA 01453
      View Details
    • $17 SF/Yr
      5,000 SF

      Downtown Leominster Office Space

      5,000 SF office space available October 1, 2025.
      29 Main St, Leominster, MA 01453
      View Details
    • $1,100 /Mo

      Retail Space in Leominster Mall

      Retail or office space available in a busy strip mall.
      853 North Main A103, Leominster, MA 01453
      View Details
    • $2,400 /Mo

      Turnkey Dental Office Space

      Ready-to-operate dental office with existing equipment and patient areas.
      1079 Central St, Leominster, MA 01453
      View Details
    • Contact for pricing
      40,000 SF

      Retail Space in Grocery-Anchored Center

      Retail space available in a regionally located shopping center.
      975 Merriam Ave, Leominster, MA 01453
      View Details
    • $6 SF/Yr
      140,000 SF

      Leominster Warehouse Space Available

      Large industrial warehouse, flexible space options.
      177 Florence St, Leominster, MA 01453
      View Details

    Property Visit Statistics

    • Visits by month
      31.9k
    • Visitors by month
      26.8k
    • Avg Time on site
      69 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    196 New Lancaster Rd, Unit 210
    Leominster, MA 01453-4957
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.