Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    407 Chestnut St Gardner, MA 01440-3029
    Back to Search
    Property profile & analytics

    407 Chestnut St, Gardner, MA 01440-3029

    View on Map
    • Auto shops
    • 1,624 SF
    • 0.17 lot acres
    Off-Market
    Property ID
    US38-0508773
    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

    • Gardner Five Star Auto Sales & Repair / Car Dealership

    Property Details for 407 Chestnut St

    Year built
    1880
    Construction
    FRAME
    Lot size
    0.17 lot acres
    Property size
    1,624 SF
    Property type
    Auto shops
    APN
    GARD M:R22 B:18 L:6
    APU
    GARDMR22B18L6

    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
    Gardner
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.9843
    Latitude
    42.57
    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
    $2,341
    $49,400
    $106,800
    $156,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      364 SF

      119 Pearson Blvd

      AUTO REPAIR, GARAGE • 364 SF
      119 Pearson Blvd, Gardner, MA 01440-3341
      View Details
    • Value Estimation by Request
      5,762 SF

      240 Ww St

      AUTO REPAIR, GARAGE • 5,762 SF
      240 Ww St, Gardner, MA 01440-2129
      View Details
    • Value Estimation by Request
      2,151 SF

      85 Jean St

      AUTO REPAIR, GARAGE • 2,151 SF
      85 Jean St, Gardner, MA 01440-3746
      View Details
    • Value Estimation
      $780,000
      9,778 SF

      412 Main St

      AUTO REPAIR, GARAGE • 9,778 SF
      412 Main St, Gardner, MA 01440-3015
      View Details
    • Value Estimation
      $660,000
      7,008 SF

      65 Riverside Rd

      AUTO REPAIR, GARAGE • 7,008 SF
      65 Riverside Rd, Gardner, MA 01440-3760
      View Details
    • Value Estimation
      $1,625,000
      27,567 SF

      440 Broadway

      AUTO REPAIR, GARAGE • 27,567 SF
      440 Broadway, Gardner, MA 01440
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Downtown Gardner Mixed-Use Investment

      Mixed-use building in downtown Gardner with retail and residential income.
      46-54 Main St, Gardner, MA 01440
      View Details
    • $550,000
      Pending

      Spacious Upgraded Two-Family Home

      Upgraded two-family home, ideal for owner-occupancy or investment.
      154 Oak St, Gardner, MA 01440
      View Details
    • $750,000
      Pending

      Renovated Three-Family Investment Property

      Three-family property with nine bedrooms and six bathrooms, renovated in 2023.
      376 Chestnut St, Gardner, MA 01440
      View Details
    • New
      $359,900
      Pending

      Gardner Multi-Family Home

      Two-family home in Gardner, ideal for investors or owner-occupants.
      213 Regan St, Gardner, MA 01440
      View Details
    • Contact for pricing

      Updated Three-Family Investment Opportunity

      Three-family property with recent updates, desirable layouts, and separate utilities.
      185 Park St, Gardner, MA 01440
      View Details
    • Contact for pricing

      Well-Maintained Three-Family Investment Property

      Three-family property with income potential and convenient location.
      149 Cross St, Gardner, MA 01440
      View Details

    Similar Nearby for Lease

    • $1,000 /Mo

      Prime Automotive Corridor Location

      Highly visible location ideal for various business ventures.
      421 West Broadway, Gardner, MA 01440
      View Details
    • Contact for pricing

      Downtown Gardner Commercial Unit For Lease

      Spacious commercial unit in historic downtown Gardner, suitable for various businesses.
      31-71 Lake St, Gardner, MA 01440
      View Details
    • Contact for pricing

      Spacious Commercial Unit in Gardner

      Prime commercial unit in historic downtown Gardner, flexible layout options.
      31-71 Lake St, Gardner, MA 01440
      View Details
    • Contact for pricing

      Retail Space in Timpany Plaza

      Retail spaces available in a shopping center with diverse tenants.
      360 Timpany Blvd, Gardner, MA 01440
      View Details
    • Contact for pricing
      18,371 SF

      Retail Space in Timpany Plaza

      Retail space for lease in vibrant shopping center.
      336-384 Timpany Blvd, Gardner, MA 01440
      View Details
    • Contact for pricing

      Downtown Gardner Commercial Space

      First-floor commercial space in downtown Gardner, ideal for specialty uses.
      11 Pleasant St, Gardner, MA 01440
      View Details
    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.
    407 Chestnut St
    Gardner, MA 01440-3029
    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

    Thank You for Inquiry
    407 Chestnut St, Gardner, MA, 01440
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!