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    62 Lakeview St Leominster, MA 01453-4513
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    Property profile & analytics

    62 Lakeview St Leominster, MA 01453-4513

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    • Manufacturing properties
    • 31,982 SF
    • 1.28 lot acres
    For Sale
    $850,000
    View Listing →
    Leominster Industrial Warehouse Investment For Sale
    $850,000
    29,000 SF

    Leominster Industrial Warehouse Investment

    29,000 SF industrial property in Leominster, renovated in 2025.

    62 Lakeview St, Leominster, MA 1453
    View Listing
    Property ID
    US38-1872927
    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

    • petwares plus / (Bike/Boat/Book/etc) Store / Pet Store
    • A. J. ARSENAULT CONTAINER SERVICE / Waste Management Facility / Hazardous Waste Disposal

    Property Details for 62 Lakeview St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.28 lot acres
    Property size
    31,982 SF
    Property type
    Manufacturing properties
    APN
    LEOM M:0451 B:0005 L:0000
    APU
    LEOMM0451B0005L0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $850,000
      ML approach
      $850,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,044,000
      Market price range: $505k - $2.16M

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

    Location Insight

    • Map
    • Local Demand
    City
    Leominster
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7415
    Latitude
    42.5147
    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
    $15,144
    $159,000
    $884,700
    $1,043,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,480,000
      51,156 SF

      217 Hamilton St

      MANUFACTURING (LIGHT) • 51,156 SF
      217 Hamilton St, Leominster, MA 01453-2311
      View Details
    • Value Estimation
      $5,115,000
      75,600 SF

      110 Jytek Dr

      MANUFACTURING (LIGHT) • 75,600 SF
      110 Jytek Dr, Leominster, MA 01453-5917
      View Details
    • Value Estimation
      $10,960,000
      171,354 SF

      33 Patriots Cir

      MANUFACTURING (LIGHT) • 171,354 SF
      33 Patriots Cir, Leominster, MA 01453-5967
      View Details
    • Value Estimation
      $3,510,000
      33,835 SF

      31 Jytek Rd

      MANUFACTURING (LIGHT) • 33,835 SF
      31 Jytek Rd, Leominster, MA 01453-5934
      View Details
    • Value Estimation
      $2,390,000
      77,110 SF

      25 Litchfield St

      MANUFACTURING (LIGHT) • 77,110 SF
      25 Litchfield St, Leominster, MA 01453-4251
      View Details
    • Value Estimation
      $1,800,000
      22,440 SF

      488 Main St

      MANUFACTURING (LIGHT) • 22,440 SF
      488 Main St, Leominster, MA 01453-2939
      View Details

    Similar Nearby for Sale

    • $675,000
      6,700 SF

      Renovated Industrial Building Near Downtown

      6,700± SF industrial building with office and manufacturing space.
      22 Laurel St, Leominster, MA 01453
      View Details
    • Contact for pricing

      Leominster Industrial Warehouse Investment

      29,000 SF industrial warehouse with new construction delivered in 2025.
      50 June St, Leominster, MA 01453
      View Details
    • Contact for pricing

      Well-Maintained Colonial with Upgrades

      Four-bedroom colonial near shopping and major routes.
      9 Dudley St, Leominster, MA 01453
      View Details
    • $559,000
      Pending

      Turnkey Two-Family in Leominster

      Updated two-family home with income potential in commuter-friendly location.
      212 Spruce 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

    Similar Nearby for Lease

    • Contact for pricing

      Distribution/Manufacturing Spec Build to Suit

      234,000 SF Class A distribution/manufacturing build-to-suit opportunity.
      Orch Hl Dr, Leominster, MA 01453
      View Details
    • Contact for pricing

      Leominster Warehouse with Modern Upgrades

      Sublease opportunity: warehouse featuring new roof, storefront, loading docks.
      489 North Main St, Leominster, MA 01453
      View Details
    • $5 SF/Yr

      Industrial Warehouse Space Available

      15,000 SF industrial/warehouse space for lease.
      177 Florence St, Leominster, MA 01453
      View Details
    • Contact for pricing
      67,500 SF

      Leominster Warehouse: 67,500 SF

      Massive warehouse, ideal for build-to-suit.
      21 Jungle Rd, Leominster, MA 01453
      View Details
    • Contact for pricing

      Leominster Flex Space Sublease

      4,500 SF flex space with highway access for sublease.
      1775 Lock Dr, Leominster, MA 01453
      View Details
    • Contact for pricing

      Adaptable Commercial Space Available

      Versatile space suitable for gym, retail, office, or storage.
      557 Lancaster St, Leominster, MA 01453
      View Details
    View Listing
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    Leominster, MA 01453-4513
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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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