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    381 Summer St Fitchburg, MA 01420
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    381 Summer St, Fitchburg, MA 01420

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    • Investment properties
    • 2,018 SF
    • 0.23 lot acres
    For Sale
    $675,000
    View Listing →
    New Build Mixed-Use Property For Sale
    $675,000
    2,018 SF

    New Build Mixed-Use Property

    Mixed-use property built in 2015 with parking and garage.

    381 Summer Street, Fitchburg, MA 01420
    View Listing
    Property ID
    US38-2538094
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • O.G. Croteau Plumbing & Heating / Plumbing Service / General Contractor

    Property Details for 381 Summer St

    Year built
    2015
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Zone code
    CBD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    FITC M:0112 B:0016 L:0
    APU
    FITCM0112B0016L0

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 2, 2000 $126,000 Francis B White Summer St RT Grant Deed $95k · Fitchburg Savings Bank
    Aug 25, 1993 — Rachel J Daigle — Deed Of Trust · related $50k · Ic Cu
    Jul 26, 1990 — Rachael J Daigle — Deed Of Trust · related $50k · Ic Cu

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fitchburg
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7745
    Latitude
    42.5708
    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
    $6,949
    $142,300
    $326,900
    $469,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      3.37 Acres

      340 Marshall Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      340 Marshall Rd, Fitchburg, MA 01420-2031
      View Details
    • Value Estimation
      $1,005,000
      7,372 SF

      116 Prichard St

      OFFICE/RESIDENTIAL (MIXED USE)
      116 Prichard St, Fitchburg, MA 01420-7538
      View Details
    • Value Estimation
      $1,065,000
      10,824 SF

      1428 Water St

      OFFICE/RESIDENTIAL (MIXED USE)
      1428 Water St, Fitchburg, MA 01420-7244
      View Details
    • Value Estimation by Request
      3,016 SF

      104 Lunenburg St

      OFFICE/RESIDENTIAL (MIXED USE)
      104 Lunenburg St, Fitchburg, MA 01420-4471
      View Details
    • Value Estimation
      $715,000
      10,146 SF

      137 Lunenburg St

      OFFICE/RESIDENTIAL (MIXED USE)
      137 Lunenburg St, Fitchburg, MA 01420-4461
      View Details
    • Value Estimation by Request
      5,712 SF

      117th Lunenburg St

      OFFICE/RESIDENTIAL (MIXED USE)
      117th Lunenburg St, Fitchburg, MA 01420-4459
      View Details

    Similar Nearby for Sale

    • $675,000
      2,018 SF

      New Build Mixed-Use Property

      Mixed-use property built in 2015 with parking and garage.
      381 Summer St, Fitchburg, MA 01420
      View Details
    • Contact for pricing
      34,000 SF

      Approved Mixed-Use Development Project

      Approved mixed-use development project with 17 residential units and office.
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      Gateway Fitchburg Retail Property

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      Fitchburg Multi-Family Investment Opportunity

      Four-unit property with long-term tenants and separate utilities.
      107-109 Prichard St, Fitchburg, MA 01420
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      1,440 SF

      Updated Two-Family Home

      Well-maintained two-family property, perfect for owner-occupants or investors.
      21 Boutelle St, Fitchburg, MA 01420
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      Pending

      Fitchburg Two-Family Home

      Circa 1882 two-family home near Fitchburg University.
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    Similar Nearby for Lease

    • Contact for pricing

      Downtown Fitchburg Office/Retail Space

      Class A office or retail space in downtown Fitchburg.
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      Prime Retail/Commercial Space Available

      Highly visible Fitchburg location, ideal for retail or commercial tenants.
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      98,000 SF

      Fitchburg Industrial Building Sublease

      98,000 SF industrial building available for sublease through 2027.
      135 Intervale Rd, Fitchburg, MA 01420
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    • Contact for pricing
      5,500 SF

      Fitchburg Retail/Office Space Available

      Retail/office space with prominent frontage and ample parking.
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    Property Visit Statistics

    • Visits by month
      9.0k
    • Visitors by month
      4.9k
    • Avg Time on site
      11 min
    View Listing
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    Fitchburg, MA 01420
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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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    381 Summer St, Fitchburg, MA, 01420
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