407 Main StSpencer, MA 01562

Property Details for 407 Main St

Year built

1992

Construction

FRAME

Lot size

1.40 AC

Property size (Sq ft)

13,099 SF

Property type

Office buildings

APN

SPEN M:00R35 B:00033 L:00000

APU

SPENM00R35B00033L00000

Description

This 6,271 square foot medical office space, located at 407 E. Main Street in Spencer, Massachusetts, presents a unique opportunity. Situated in a Class C building totaling 13,273 square feet, this suite offers a versatile layout previously used for internal medicine. The space includes exam rooms, consultation rooms, check-in counters, and reception areas, ready for immediate occupancy. The building features a convenient parking ratio of 8 spaces per 1,000 square feet, ensuring ample parking for patients and staff. The property is located in Worcester County, MA, with the zip code 01562. This multi-tenant building also houses Spencer Veterinary Hospital in Suite A. The property is categorized as a medical office and offers a single, large suite. This is an excellent opportunity for a medical practice seeking established space with existing infrastructure. The property's location in Spencer offers easy access for patients and employees. The available space is ideal for a variety of medical specialties, given its existing layout and ample parking. The building's overall size is 13,273 square feet. This listing presents a turnkey solution for a medical practice looking to establish or expand its presence in the Spencer, MA area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,165,656

  6.5%

  $1,999,067

  7%

  $1,856,276

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,711,515

  Geo Method

  $1,711,515

• Alternative Use

  Use

  Valuation

  Residential

  $2,478,843

  Hospitality

  $2,270,607

  Educational

  $1,889,118

  Medical

  $1,954,088

  Retail

  $2,938,628

Location Insight

City

Spencer

County

Worcester

State

Massachusetts

Latitude

42.2571

Longitude

-71.9595

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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