Automotive Property with Office
For Sale
$1,995,000
206 Turnpike Rd, Southborough, MA 01772
Single-story commercial building with an existing Class II auto dealer license and parking configured for vehicle inventory.
Property Size6,500 SF
Lot Size2.30 Acres
Price / SF$306.92
Days on Market53
Property Features for 206 Turnpike Rd
General Information
Standard status
Active
Size
6,500 SF
Total Parking Spaces
36
Lot size
2.30 Acres
Property subtype
Commercial
Amenities
private offices
kitchenette/break areas
utility rooms
bathrooms
Building Details
Building Size
6,500 SF
Year Built
1980
Buildings
1
Stories
1
Listing Agency:
IVerty Realty, LLC
(617) 518-8888
Listed By:
Hao Wang · License #452508574
(617) 518-8888
Source:
Iverty
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 29 at 1:13PM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1980, this single-story automotive property includes approximately 6,500 square feet on an approximately 2.3-acre parcel. The interior is arranged with 11 private offices, 3 kitchenette/break areas, 2 utility rooms, and 4 bathrooms, providing a substantial office component within the building. The property has an existing Class II auto dealer license and related use history.
The current license references 36 total parking spaces, including 12 spaces designated for car sales inventory. The stated licensing conditions prohibit on-site repairs and traffic or test drives on Middle Road. The property is identified for automotive-related use, showroom, professional office, administrative office, or service-based commercial use, subject to verification of zoning, permitted uses, parking and display approvals, wetlands or resource area limitations, licensing requirements, and municipal approvals.
The current license references 36 total parking spaces, including 12 spaces designated for car sales inventory. The stated licensing conditions prohibit on-site repairs and traffic or test drives on Middle Road. The property is identified for automotive-related use, showroom, professional office, administrative office, or service-based commercial use, subject to verification of zoning, permitted uses, parking and display approvals, wetlands or resource area limitations, licensing requirements, and municipal approvals.
Key Highlights
- Existing Class II auto dealer license and automotive use history
- Approximately 6,500 square feet in a single‑story building
- Approximately 2.3‑acre parcel built in 1980
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
$118,463
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
5.94%
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%
$2,369,260
$2.4M
Cap Rate 7%
$1,692,329
$1.7M
Cap Rate 9%
$1,316,256
$1.3M
Market Conditions
NOI Build-Up for 6,500 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
$195.0K $30.00/SF
− Vacancy
−$37.1K −$5.70/SF
EGI
$158.0K $24.30/SF
− OpEx
−$39.5K −$6.08/SF
NOI
$118.5K $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%
$2,369,260
Cap Rate 7%
$1,692,329
Cap Rate 9%
$1,316,256
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.97M
NOI $118,463 @ 7.0% cap · market cap 5.94%
Second Best
Retail
$1.37M
$1.20M – $1.60M
NOI $96,118 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,376 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01772, MA
10,017
Population
3,571
Households
2.8
Avg Household Size
43
Median Age
75%
College-Educated
98%
High-School Grad
13.6 sq mi
ZIP Area
737
Density / Sq Mi
$196,680
Median Household Income
$97,457
Median Earnings
$2,425
Median Rent
$816,500
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.
Similar Off Market Nearby
- The Eagle Leasing Company — 258 Turnpike Rd, Southborough, MA 01772
Frequently Asked Questions
What type of property is this?
Automotive property - Single-story commercial building with an existing Class II auto dealer license and parking configured for vehicle inventory.
Where is this automotive property located?
The property is located at 206 Turnpike Rd Southborough, MA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Existing Class II auto dealer license and automotive use history; Approximately 6,500 square feet in a single‑story building; Approximately 2.3‑acre parcel built in 1980
