47 Prospect StWest Boylston, MA 01583

Property Details for 47 Prospect St

Year built

1846

Construction

FRAME

Lot size

0.52 AC

Property size (Sq ft)

2,412 SF

Property type

Showrooms

APN

WBOY M:0143 B:0106 L:0000

APU

WBOYM0143B0106L0000

Description

This meticulously maintained, 2,412 square foot office building at 47 Prospect Street in West Boylston, MA, presents a unique investment opportunity. Built in 1846, this classic colonial-style structure boasts six private offices, two waiting rooms, a kitchen, and two full and two half bathrooms. Recently updated to enhance both functionality and energy efficiency, the building features new vinyl windows, completed insulation and air sealing, a restored slate roof, fresh exterior paint, and a completely overhauled electrical system. Additional improvements include a commercial-grade dehumidifier, an A/C split unit, and a security alarm system. The property is ADA compliant, featuring a half bathroom, dedicated handicap parking, and a full ramp entrance, all implemented in 2010. Situated on a 0.52-acre lot, it offers ample off-street parking for twelve vehicles. Currently operating as a successful private counseling practice, this versatile property is zoned for business use, allowing for flexibility in its future applications, including home occupations or residential conversion. Located within ten miles of Worcester, Shrewsbury, Boylston, and Holden, this property offers convenient access to major roadways and a thriving regional economy. The asking price is $599,900. The property is also available for sale as a single-family home under a separate MLS listing. The first-floor bathroom meets 2010 ADA standards. The Business (BUS) zoning provides considerable flexibility for the next owner.

• CAP approach

  CAP return

  Valuation

  6%

  $586,200

  6.5%

  $541,108

  7%

  $502,457

• Comparable approach

  Method

  Valuation

  Relative Method

  $794,183

  Geo Method

  $794,183

• Alternative Use

  Use

  Valuation

  Residential

  $456,445

  Hospitality

  $418,101

  Educational

  $347,855

  Medical

  $359,818

  Retail

  $541,108

Location Insight

City

West Boylston

County

Worcester

State

Massachusetts

Latitude

42.3671

Longitude

-71.7847

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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