Adaptable Medical Office
16 Wyman Rd, Westminster, MA 01473
For Sale
New
Contact for pricing
A former primary care and accredited daycare facility sits beside Route 2 with dedicated parking.
Property Size4,200 SF
Price / SF$0.00
Days on Market3
Property Features for 16 Wyman Rd
General Information
Standard status
Size
Site & Location
Highway Access
Road Access
Building Details
Year Built
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Nicholas L. Pelletier
(978) 674-7146
Source:
Lockandkeyre
Added: Nov 8
Changed: Nov 10
Last Checked: Nov 10 at 2:28PM
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 Keller Williams Realty North Central
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Investment Insights
Based on property information with market context.
This 4,200-square-foot medical office property was built in 2001. Its previous use as a primary care facility and an accredited daycare center provides a documented basis for considering different professional, medical, or instructional configurations. The space is at 16 Wyman Road in Westminster, Massachusetts, and includes dedicated parking.
Route 2 runs directly alongside the property, with access just off the highway. The location is also described as being near regional transportation routes.
Route 2 runs directly alongside the property, with access just off the highway. The location is also described as being near regional transportation routes.
Key Highlights
- 4,200 square feet of medical office space
- Built in 2001
- Adjacent to Route 2, with access just off the highway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,741
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,174,820
$1.2M
Cap Rate 7%
$839,157
$839.2K
Cap Rate 9%
$652,678
$652.7K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$105.8K $25.20/SF
− Vacancy
−$7.9K −$1.89/SF
EGI
$97.9K $23.31/SF
− OpEx
−$39.2K −$9.32/SF
NOI
$58.7K $13.99/SF
Area
Worcester County, MA
Vacancy
7.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,174,820
Cap Rate 7%
$839,157
Cap Rate 9%
$652,678
Alternative Uses
Best Use
Office B
$1.09M
$956.8K – $1.28M
NOI $76,545 @ 7.0% cap
Second Best
Healthcare Medical
$839.2K
$734.3K – $979.0K
NOI $58,741 @ 7.0% cap
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,397 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01473, MA
8,213
Population
3,469
Households
2.4
Avg Household Size
44
Median Age
41%
College-Educated
96%
High-School Grad
35.4 sq mi
ZIP Area
232
Density / Sq Mi
$101,161
Median Household Income
$61,078
Median Earnings
$1,643
Median Rent
$394,000
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Worcester County, MA
Properties on Market for Medical Office Space in Worcester County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A former primary care and accredited daycare facility sits beside Route 2 with dedicated parking.
Where is this medical office space located?
The property is located at 16 Wyman Rd Westminster, MA.
What are key features of this property?
This property features: 4,200 square feet of medical office space; Built in 2001; Adjacent to Route 2, with access just off the highway
