154 Main StNorthborough, MA 01532

Property Details for 154 Main St

Year built

1900

Construction

CONCRETE

Lot size

0.47 AC

Property size (Sq ft)

1,289 SF

Zone code

BE

Property type

Investment properties

Property subtype

Live-work space

APN

NBOR M:0530 L:0132

APU

NBORM0530L0132

Description

This exceptional Northborough property offers a rare opportunity to acquire two buildings situated on a sizable 0.47-acre lot. The main building, located at 154 Main Street, boasts approximately 2,200 square feet of space and is zoned Business East, presenting a wealth of potential uses for various businesses. Recent upgrades significantly enhance the property's value and functionality, including a newer roof, septic system, central air condenser, and furnace. Accessibility features are a key highlight, with two handicap-accessible bathrooms and two exterior ramps, complemented by an interior ramp for convenient navigation. The building's layout comprises multiple rooms on the first floor and a finished upper level featuring two separate rooms. A heated back entranceway, equipped with double doors and a ramp, provides seamless access to the main building area. Adding to this unique offering is 154A Main Street, a detached one-bedroom apartment complete with its own utilities and parking. This apartment includes a loft bedroom accessible via a spiral staircase. The property's prime location directly on Route 20 ensures exceptional visibility and exposure to a high volume of traffic, making it an ideal investment for entrepreneurs seeking a prominent commercial presence in a thriving Northborough location. The asking price for this combined property is $699,900.

• CAP approach

  CAP return

  Valuation

  6%

  $213,110

  6.5%

  $196,717

  7%

  $182,666

• Comparable approach

  Method

  Valuation

  Relative Method

  $168,421

  Geo Method

  $168,421

• Alternative Use

  Use

  Valuation

  Residential

  $243,929

  Hospitality

  $223,438

  Educational

  $185,898

  Medical

  $192,291

  Retail

  $289,174

Location Insight

City

Northborough

County

Worcester

State

Massachusetts

Latitude

42.323

Longitude

-71.6304

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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