Renovated Mixed-Use
For Sale
$898,900
137 Westboro Road, North Grafton, MA 01536
Mixed-use asset with two office units, finished basement, private garage, fenced yard, and parking.
Property Size4,500 SF
Price / SF$199.76
Days on Market169
Property Features for 137 Westboro Road
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
5
Property subtype
Multi-family / 3 Family
Zoning
OLI
Net Operating Income
$42,000
Additional Details
Public Transit
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$10,905
Amenities
Private Sewerage, Private, 220 Volts, for Electric Dryer
No
Wood, Tile, Vinyl
1
Yes
5.0
Electric Dryer Hookup
Full, Finished
Living Room, Dining Room, Kitchen, Family Room, Laundry Room, Sunroom, Office/Den
4
4.50
5
Frame, Stone
Wood
Rain Gutters, Professional Landscaping
Building Details
Year Built
1984
Listing Agency:
Dell Realty Inc.
(617) 629-5950
Listed By:
Gitania da Silva · License #9586632
(617) 629-5950
Source:
Compass
Added: Mar 16
Changed: Aug 30
Last Checked: Aug 30 at 6:21PM
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 Dell Realty Inc.
Investment Insights
Based on property information with market context.
This mixed-use property includes two office units within a fully renovated building, along with a main house, finished basement, private garage, and fenced yard. The office areas feature hardwood flooring, full bathrooms, sink bars with granite countertops, and recently renovated tile finishes. The property also includes living, dining, kitchen, family, laundry, sunroom, and office or den areas, creating a combination of residential and commercial space. The building was constructed in 1984 and is zoned OLI.
Located near shopping centers, universities, and a train station, the property offers access to several established destinations. Exterior features include frame and stone construction, wood elements, rain gutters, professional landscaping, and ample parking.
Located near shopping centers, universities, and a train station, the property offers access to several established destinations. Exterior features include frame and stone construction, wood elements, rain gutters, professional landscaping, and ample parking.
Key Highlights
- Two office units within a mixed‑use property
- Fully renovated office areas with hardwood flooring
- Five bathrooms with recently renovated tile finishes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$82,013
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,640,260
$1.6M
Cap Rate 7%
$1,171,614
$1.2M
Cap Rate 9%
$911,256
$911.3K
Market Conditions
NOI Build-Up for 4,500 SF
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.
Gross rent
$135.0K $30.00/SF
− Vacancy
−$25.7K −$5.70/SF
EGI
$109.4K $24.30/SF
− OpEx
−$27.3K −$6.08/SF
NOI
$82.0K $18.23/SF
Area
Worcester County, MA
Vacancy
19.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,640,260
Cap Rate 7%
$1,171,614
Cap Rate 9%
$911,256
Alternative Uses
Best Use
Office B
$1.17M
$1.03M – $1.37M
NOI $82,013 @ 7.0% cap · market cap 9.12%
Second Best
Multifamily LT 5
$869.0K
$760.4K – $1.01M
NOI $60,829 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,568 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 01536, MA
7,514
Population
3,230
Households
2.3
Avg Household Size
41
Median Age
48%
College-Educated
94%
High-School Grad
8.6 sq mi
ZIP Area
874
Density / Sq Mi
$105,795
Median Household Income
$62,035
Median Earnings
$450,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use asset with two office units, finished basement, private garage, fenced yard, and parking.
Where is this mixed-use property located?
The property is located at 137 Westboro Road North Grafton, MA.
What is the asking price?
The asking price for this property is $898,900.
What are key features of this property?
This property features: Two office units within a mixed‑use property; Fully renovated office areas with hardwood flooring; Five bathrooms with recently renovated tile finishes
