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    Property profile & analytics

    60 Chestnut St Gardner, MA 01440-2204

    • Warehouses
    • 18,501 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $1,385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1540053
    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

    • Warehouses

    Property Details for 60 Chestnut St

    Year built
    1886
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.53 lot acres
    Property size
    18,501 SF
    Property type
    Warehouses
    APN
    GARD M:R27 B:22 L:25
    APU
    GARDMR27B22L25

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,389,000
      Market price range: $843k - $2.99M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,855,000
      Current use
      COMMERCIAL (GENERAL)
      $2,230,000
      Change: +20% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,220,000
      Change: +20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Gardner
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.9863
    Latitude
    42.5781
    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
    $6,790
    $84,600
    $368,400
    $453,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,852 SF

      72 Conant St

      WAREHOUSE, STORAGE • 2,852 SF
      72 Conant St, Gardner, MA 01440-3116
      View Details
    • Value Estimation
      $8,245,000
      93,800 SF

      101 Linus Allain Ave

      WAREHOUSE, STORAGE • 93,800 SF
      101 Linus Allain Ave, Gardner, MA 01440-2483
      View Details
    • Value Estimation
      $590,000
      16,112 SF

      166 Ml St

      WAREHOUSE, STORAGE • 16,112 SF
      166 Ml St, Gardner, MA 01440-3292
      View Details
    • Value Estimation
      $1,175,000
      41,533 SF

      30 Newton St

      WAREHOUSE, STORAGE • 41,533 SF
      30 Newton St, Gardner, MA 01440
      View Details
    • Value Estimation
      $6,475,000
      79,520 SF

      35 Wilkins Rd

      WAREHOUSE, STORAGE • 79,520 SF
      35 Wilkins Rd, Gardner, MA 01440-2833
      View Details
    • Value Estimation by Request
      13,332 SF

      74 Sherman St

      WAREHOUSE, STORAGE • 13,332 SF
      74 Sherman St, Gardner, MA 01440-2716
      View Details

    Similar Nearby for Sale

    • $399,900
      1,359 SF

      Well-Maintained Two-Family Investment Opportunity

      Updated two-family property with long-term tenants, ideal for investors.
      84 Jean St, Gardner, MA 01440
      View Details
    • New
      $599,900
      2,887 SF

      Updated Two-Family Home, Gardner, MA

      Well-maintained two-family home with recent updates and separate utilities.
      154 Oak St, Gardner, MA 01440
      View Details
    • New
      $300,000
      2,825 SF

      Multi-Family Investment Opportunity in Gardner

      Multi-family property with income potential in a hot rental market.
      174 West Broadway, Gardner, MA 01440
      View Details
    • New
      $579,900
      2,412 SF

      Updated Duplex in Gardner

      Renovated 2-unit home with modern finishes and separate utilities.
      99 Washington St, Gardner, MA 01440
      View Details
    • $899,900
      Pending

      Ready-to-Develop Parcel in Gardner

      Commercial land parcel for sale in booming Gardner, Massachusetts.
      155 Mill St, Gardner, MA 01440
      View Details
    • $799,900
      Pending

      Ready-to-Develop Parcel in Gardner

      Commercial land parcel for sale in booming Gardner, Massachusetts.
      85 Winter St, Gardner, MA 01440
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Building Near Route 2

      109,374 SF industrial space with highway access.
      77 Industrial Rowe, Gardner, MA 01440
      View Details
    • $22 SF/Yr
      12,511 SF

      Medical Office Space For Lease

      End-cap medical office space available with highway access and parking.
      354 Main 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
    • $22 SF/Yr

      Medical Office Space For Lease

      End-cap medical office space available for lease.
      354 Main St, Gardner, MA 01440
      View Details
    • New
      $1,000 /Mo
      78,844 SF

      Prime Automotive Corridor Location

      Highly visible lot in thriving automotive area, ideal for rentals.
      421 West Broadway, Gardner, MA 01440
      View Details
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    60 Chestnut St
    Gardner, MA 01440-2204
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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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