155 Otis StNorthborough, MA 01532

Property Details for 155 Otis St

Year built

1997

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

6.53 AC

Property size (Sq ft)

31,363 SF

Zone code

BS

Property type

Office buildings

APN

NBOR M:1100 L:0020

APU

NBORM1100L0020

Description

This exceptional two-story, 32,000 square foot Class B office building at 155 Otis Street in Northborough, Massachusetts, presents a unique investment opportunity. Built in 1997, the property boasts 12-foot ceilings and offers multiple tenancy options, with a minimum divisible space of 1,759 square feet and a maximum contiguous space of 16,396 square feet. Currently, 18,155 square feet of space is available for lease. The building features convenient amenities including an elevator, a ramp for accessibility, and a roll-up door. Ample parking is provided with a 3.33 spaces per 1,000 square feet parking ratio. Strategically located near the Northborough/Westborough town line, this property enjoys exceptional access to Route 9, providing easy east and westbound travel. Located in Worcester County, this property offers a prime location for businesses seeking efficient and well-appointed office space in a convenient and accessible location. The property's two suites offer flexibility for various business needs, making it an ideal choice for companies seeking a modern and functional workspace. This is a rare opportunity to secure high-quality office space in a desirable location. The zip code is 01532.

• CAP approach

  CAP return

  Valuation

  6%

  $5,185,240

  6.5%

  $4,786,376

  7%

  $4,444,492

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,097,890

  Geo Method

  $4,097,890

• Alternative Use

  Use

  Valuation

  Residential

  $5,935,106

  Hospitality

  $5,436,526

  Educational

  $4,523,126

  Medical

  $4,678,682

  Retail

  $7,035,973

Location Insight

City

Northborough

County

Worcester

State

Massachusetts

Latitude

42.2914

Longitude

-71.657

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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