21 Cotton St, Leominster, MA 01453

This downtown Leominster investment property offers an $8,200 monthly revenue. The

property consists of a three-story, wood-frame building containing two 3BR apartments, one

2BR apartment, and an income producing two-bay garage. The apartments are bright with

renovated kitchens and bathrooms, and a combination of hardwood and laminate flooring.

The projected NOI is $84,000 and the cap rate is 10.22%. Located steps from the Leominster

Public Library, and nearby to The Lofts at City Place, the Leominster YMCA, Leominster City

Hall, Monument Square and Leominster District Court, the property offers access to major

highways I-190 and Massachusetts Route 2; as well as area hospitals (1.2 mile driving

directions to UMass Memorial HealthAlliance Hospital, Leominster Campus), and area

colleges and universities (approximately 2 miles to Mount Wachusett Community College

(MWCC) Leominster campus, 13 minute drive time to Fitchburg State University, and within

a 30 minute drive of Worcester and Worcester-area colleges and universities). There are 11

colleges and universities in total within a 20-mile radius of Leominster. Leominster is home

to major employers including UMass Memorial Health HealthAlliance Hospital (including its

nearby Fitchburg campus), Market Basket, and Georgia-Pacific. The city’s leading industries

are healthcare, manufacturing, and retail trade. The primary public transit connection from

Leominster to Boston is the MBTA Fitchburg Line Commuter Rail, which runs directly from

North Leominster Station to Boston’s North Station. The route takes about 1 hour 20

minutes, with multiple departures offered throughout the day. Worcester Regional Airport

in Worcester is approximately 25 miles south, offering regional and national air service. The

Worcester MA MSA has a population of over 880,000, and Worcester is the second largest

city in Massachusetts.