Open-Plan Retail
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For Sale
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1-9 Pineland Avenue Unit 4, Shrewsbury, MA 01545
A recently renovated suite offers an open interior suited to retail or office occupancy.
Property Size719 SF
Price / SF$2.09
Days on Market7
Property Features for 1-9 Pineland Avenue Unit 4
General Information
Standard status
Active
Size
719 SF
Property subtype
Commercial
Building Details
Year Built
1969
Listing Agency:
RE/MAX Vision
(508) 595-9900
Listed By:
Tony Economou · License #9086102
(508) 868-2759
Source:
Lockandkeyre
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 19 at 2:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Vision
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Investment Insights
Based on property information with market context.
This retail suite contains approximately 719 square feet of open space and has been recently renovated. Its open layout is presented for retail or office use, including professional and medical office applications.
The property is along Route 20 in Shrewsbury, with the Massachusetts Turnpike nearby. Worcester, Grafton, Millbury, Shrewsbury, and the UMass Memorial Lake Campus are described as minutes away; recent development along Route 20 is also noted a short distance up the road.
The property is along Route 20 in Shrewsbury, with the Massachusetts Turnpike nearby. Worcester, Grafton, Millbury, Shrewsbury, and the UMass Memorial Lake Campus are described as minutes away; recent development along Route 20 is also noted a short distance up the road.
Key Highlights
- Approximately 719 square feet of open interior space
- Recently renovated suite
- Located along Route 20 in Shrewsbury
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,632
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,640
$212.6K
Cap Rate 7%
$151,886
$151.9K
Cap Rate 9%
$118,133
$118.1K
Market Conditions
NOI Build-Up for 719 SF
Gross rent
$15.5K $21.60/SF
− Vacancy
−$342 −$0.48/SF
EGI
$15.2K $21.12/SF
− OpEx
−$4.6K −$6.34/SF
NOI
$10.6K $14.79/SF
Area
Worcester County, MA
Vacancy
2.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,640
Cap Rate 7%
$151,886
Cap Rate 9%
$118,133
Alternative Uses
Best Use
Office B
$187.2K
$163.8K – $218.4K
NOI $13,104 @ 7.0% cap · market cap 873.60%
Second Best
Retail
$151.9K
$132.9K – $177.2K
NOI $10,632 @ 7.0% cap · market cap 708.80%
Theoretical Best
Office A
$245.5K
$214.8K – $286.5K
NOI $17,187 @ 7.0% cap · market cap 1,145.80%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 01545, MA
38,316
Population
15,318
Households
2.5
Avg Household Size
41
Median Age
66%
College-Educated
96%
High-School Grad
20.8 sq mi
ZIP Area
1,842
Density / Sq Mi
$136,225
Median Household Income
$74,718
Median Earnings
$2,046
Median Rent
$555,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - A recently renovated suite offers an open interior suited to retail or office occupancy.
Where is this retail space located?
The property is located at 1-9 Pineland Avenue Unit 4 Shrewsbury, MA.
What are key features of this property?
This property features: Approximately 719 square feet of open interior space; Recently renovated suite; Located along Route 20 in Shrewsbury
