Free-Standing Office Building with
385 South Street Shrewsbury, MA 01545
385 South Street, Shrewsbury, MA, 01545
$1,795,000
For Sale
$1,795,000
Free-standing office building offers 6,039 SF, handicap-accessible first floor, and 39 on-site parking spaces.
Property Size6,039 SF
Lot Size1.69 Acres
Price / SF$297.23
Days on Market64
Property Features for 385 South Street
General Information
- Standard status
- Active
- Size
- 6,039 SF
- Lot size
- 1.69 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1954
Listing agency
Prosperity Associates, Inc
(774) 696-8023
Listed by
Donald Mancini · License #9506179-RE-B
(774) 696-8023
Source
Aucoinryanrealty
Added: May 19 Updated: Jul 21 at 3:56AM Checked: Jul 21 at 3:56AM
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 Prosperity Associates, Inc
Investment Insights
Based on property information with market context.
This free-standing office building offers 6,039 SF and was expanded and fully renovated in 2019. The interior features hardwood flooring and abundant natural light, with a polished, move-in-ready layout designed for client and staff comfort. The building is handicap accessible on the first floor and includes a full basement for additional storage.
Set on 1.69 acres of landscaped grounds atop a rolling hill, the property is positioned for visibility with prominent signage along South Street. On-site parking includes 39 spaces.
The building’s combination of renovated finishes, accessible main-floor entry, and dedicated storage in the basement supports day-to-day operational needs for a wide range of professional office uses.
Set on 1.69 acres of landscaped grounds atop a rolling hill, the property is positioned for visibility with prominent signage along South Street. On-site parking includes 39 spaces.
The building’s combination of renovated finishes, accessible main-floor entry, and dedicated storage in the basement supports day-to-day operational needs for a wide range of professional office uses.
Key Highlights
- 6,039 SF free‑standing office building in Shrewsbury, MA with handicap‑accessible first floor
- Expanded and fully renovated in 2019; move‑in‑ready with high‑end finishes throughout
- 1.69 acres of landscaped grounds set atop a rolling hill
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $181.2k | $30.00 |
| − Vacancy | −$34.4k | −$5.70 |
| EGI | $146.7k | $24.30 |
| − OpEx | −$36.7k | −$6.08 |
| NOI | $110.1k | $18.23 |
6,039 SF · lease $30.00/SF/yr · vacancy 19.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.57M
$1.38M – $1.83M
NOI $110,061 @ 7.0% cap · market cap 6.13%
Second Best
Healthcare Medical
$1.21M
$1.06M – $1.41M
NOI $84,461 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$2.06M
$1.80M – $2.41M
NOI $144,356 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
McLaren & Associates, CPAs, ...
Accounting Firm
Provo Wealth Management ...
Financial Advisor
Rollover Advisors MA
Financial Advisor
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Free-standing office building offers 6,039 SF, handicap-accessible first floor, and 39 on-site parking spaces.
Where is this office building located?
The property is located at 385 South Street Shrewsbury, MA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 6,039 SF free‑standing office building in Shrewsbury, MA with handicap‑accessible first floor; Expanded and fully renovated in 2019; move‑in‑ready with high‑end finishes throughout; 1.69 acres of landscaped grounds set atop a rolling hill
