Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Westborough Technology Park Office Space Title is generated by Realmo AI

    5 Technology Dr, Westborough, MA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space in a 54-acre master-planned technology park.

    Type:OFFICE
    Property size:
    40,000 SF
    Lot size:
    26.60 Acres
    Added:
    Mar 15, 2023
    Days on Market:
    1156
    Last Refresh:
    Apr 5 at 10:18 pm

    Property Features for 5 Technology Dr

    General Information

    Standard status
    Active
    Size
    40,000 SF
    Lot size
    26.60 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 5 Technology Dr Contact us

    We can help!

    Listing Contact
    Brian Hunt
    Brian Hunt

    Listing agent Brian Hunt

    Listing office Carruth Capital, LLC

    Listing date Mar 15, 2023

    Source Moodyscre

    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 Carruth Capital, LLC

    HighLights

    • Located in the 54‑acre Westborough Technology Park, 20 miles west of Boston and adjacent to I‑495.
    • Multiple or single tenant possibilities.
    • Two on‑site hotels: Wyndham Hotel and Marriott Courtyard Hotel.
    • Wyndham Hotel AMENITIES include a fitness center, swimming pool, restaurant, lounge, meeting facilities, and airport shuttle.
    • On‑site daycare available.
    • On‑site management.

    Overview

    This property offers multiple or single tenant possibilities within the 54-acre, master-planned Westborough Technology Park, situated 20 miles west of Boston and adjacent to 495. The technology park includes two hotels: the Wyndham Hotel and the Marriott Courtyard Hotel. The Wyndham Hotel features a fitness center, swimming pool, restaurant, lounge, meeting facilities, and a shuttle service to and from Logan International Airport. Daycare services are available on-site. On-site management is provided for the property, which offers 40000 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.569
    Latitude
    42.2941

    Nearby Similar for Lease

    • $18 SF/Yr

      Westborough Office Space For Lease

      First floor office space for lease in Westborough, MA.
      69 Milk St unit: 120, Westborough, MA 01581
      View Details
    • Contact for pricing

      Westborough First Floor Office Space

      2,974 sq ft office space for lease in Westborough.
      69 Milk St #120, Westborough, MA 01581
      View Details
    • $19 SF/Yr

      Westborough Office Space For Rent

      Second floor office suite available in Westborough, Massachusetts.
      4 Bellows Rd unit: G, Westborough, MA 01581
      View Details
    • $19 SF/Yr

      Westborough Office Suite For Rent

      First floor office suite with private offices and kitchenette.
      4 Bellows Rd unit: C, Westborough, MA 01581
      View Details
    • $19 SF/Yr

      Westborough Office Space Available

      Second floor office suite available for lease in Westborough.
      4 Bellows Rd unit: J, Westborough, MA 01581
      View Details
    • Contact for pricing

      Westborough Flex Space with Yard

      Flex space with yard, convenient highway access, and heavy power.
      25 Brigham St 2, Westborough, MA 01581
      View Details
    • Contact for pricing

      Office Space Available For Lease

      6,280 sq ft office space for lease.
      287 Turnpike Rd, Westborough, MA 01581
      View Details
    • Contact for pricing

      Westborough Office Park Space Available

      Premier office campus with flexible options and modern amenities.
      1900 W Park Dr, Westborough, MA 01581
      View Details
    • Contact for pricing

      Westborough Office Park For Rent

      Premier office campus with amenities and flexible suite options.
      2000 W Park Dr, Westborough, MA 01581
      View Details
    • Contact for pricing

      Westborough Office Suite For Rent

      Second floor office suite available for lease in Westborough.
      4 Bellows Rd #G, Westborough, MA 01581
      View Details
    • Contact for pricing

      Westborough Center Two-Story Office Building

      6,360 SF office building in walkable town center location.
      11 W Main St, Westborough, MA 01581
      View Details
    • $1,750/Mo

      Retail/Office Space For Rent

      943+/- SF retail/office space available for rent.
      3 Union St, Westborough, MA
      View Details

    FAQs

    What type of property is this?
    Office units - Office space in a 54-acre master-planned technology park.
    Where is this office units located?
    The property is located at 5 Technology Dr Westborough, MA.
    What are key features of this property?
    This property features: Located in the 54‑acre Westborough Technology Park, 20 miles west of Boston and adjacent to I‑495.; Multiple or single tenant possibilities.; Two on‑site hotels: Wyndham Hotel and Marriott Courtyard Hotel.
    (508) 898-3800 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian Hunt
    Brian Hunt
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5 Technology Dr, Westborough, MA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!