Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    120 Quarry Dr 2nd fl Milford, MA 1757

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $16 SF/Yr

    Second-floor office suite with flexible layout and regional accessibility.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 24 at 8:15 pm

    Property Features for 120 Quarry Dr 2nd fl

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    Joshua Lioce

    Listing agent Joshua Lioce

    Listing office

    Listing date Apr 24, 2026

    Source Elliman

    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 Joshua Lioce

    Overview

    Professional Office Suite For Lease

    This professional second-floor office suite offers a flexible and efficient layout suitable for medical or general office use. The space includes private offices of various sizes and a spacious conference room. Abundant natural light enhances the working environment. The property is located approximately one mile from two I-495 exits, as well as Route 16, Route 109, and Route 85, providing regional accessibility for clients and employees. On-site parking is available. This location is suitable for professional services, medical practices, consulting firms, or administrative users. The bike score is 20, indicating it is somewhat bikeable, and the walk score is 34, indicating car-dependent accessibility.
    Location Intelligence

    Current Use by Public Records

    Gallo Moving & Storage, ... Moving Company Metropolitan Staple Corp. Building Supply Juniper Promotional Marketing Marketing & Advertising Fafard Commercial Real Estate Agency Printsmart Office Solutions Computer & Electronic Repair

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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
    Milford
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.4989327
    Latitude
    42.1557285

    Nearby Similar for Lease

    • $16 SF/Yr

      Turnkey Lab/Medical Office Space

      Well-configured professional space in downtown Milford, move-in ready.
      189 Main St #6, Milford, MA 01757
      View Details
    • $15 SF/Yr

      Retail/Office Space at Lighted Intersection

      2,500 SF retail/office space available at lighted intersection.
      105-107 E Main St 2, Milford, MA 01757
      View Details
    • $2,800/Mo

      Retail Space on Route 16

      Retail space available in high-traffic Milford retail center.
      206 E Main St 2, Milford, MA 01757
      View Details
    • $2,000/Mo

      East Main Street Retail/Office Space

      Affordable retail or office space with parking on East Main.
      121 E Main St, Milford, MA 01757
      View Details
    • Contact for pricing

      Milford Flex/R&D Space Available

      Flex/R&D space with warehouse, offices, and lab area.
      455 Fortune Boulevard, Milford, MA 01757
      View Details
    • Contact for pricing

      Retail/Office Space on Route 16

      High-visibility space suitable for retail or office use.
      231 East Main Street | Milford, MA 01757
      View Details
    • Contact for pricing

      Milford Medical/Office Space for Lease

      Medical/office suites and full floor available in Milford, MA.
      321 Fortune Boulevard, Milford, MA 01757
      View Details
    • $12 SF/Yr

      Office Space For Lease

      Versatile office space available for lease in a prime location.
      10 Exchange St, Milford, MA
      View Details
    • Contact for pricing

      Retail Space Near Route 495

      1,500 SF retail space conveniently located off Route 495.
      200 Fortune Boulevard, Milford, MA 01757
      View Details
    • Contact for pricing

      Flex Space on Route 85

      Flex/R&D park with highway visibility and immediate highway access.
      113 Cedar St, Milford, MA 01757
      View Details
    • Contact for pricing

      Milford Retail/Office Space for Lease

      Retail and office space with high visibility and ample parking.
      231 East Main Street, Milford, MA 01757
      View Details
    • Contact for pricing

      Retail Space in Milford Center

      6,364 SF retail space available immediately in Milford, MA.
      Milford, MA 01757
      View Details

    FAQs

    What type of property is this?
    Office units - Second-floor office suite with flexible layout and regional accessibility.
    Where is this office units located?
    The property is located at 120 Quarry Dr 2nd fl Milford, MA.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Strategically located with exceptional regional accessibility via I‑495, Route 16, Route 109 and Route 85.; Flexible and efficient layout suitable for medical or general office use.; **Abundant natural light creating a bright and professional working environment.**
    (508) 962-2909
    We can help!
    Listing Contact
    Joshua Lioce
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!