Medical Office Suite with Private
New
For Sale
$157,000
215 West St, Milford, MA 01757
Reception, waiting, work, and office areas create a flexible multi-room layout.
Property Size1,000 SF
Price / SF$157
Days on Market6
Property Features for 215 West St
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Building Details
Building Size
1,000 SF
Year Built
1980
Construction
brick
Listing Agency:
Pinto Real Estate
(508) 473-2600
Listed By:
Antonio Pinto · License #134915-RE-B
(508) 294-7200
Source:
Iverty
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 11:02AM
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 Pinto Real Estate
Investment Insights
Based on property information with market context.
This 1,000-square-foot medical office condominium is within a brick medical office building. Its floor plan includes reception and waiting areas, a work area, three to four private offices, and two private bathrooms. The property was built in 1980 and is zoned CC.
The building is on Route 140 in Milford, near Milford Hospital. The suite’s room configuration supports medical office use and other professional uses.
The building is on Route 140 in Milford, near Milford Hospital. The suite’s room configuration supports medical office use and other professional uses.
Key Highlights
- 1,000‑square‑foot medical office condominium
- Three to four private offices, plus reception, waiting, and work areas
- Two private bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,986
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,720
$279.7K
Cap Rate 7%
$199,800
$199.8K
Cap Rate 9%
$155,400
$155.4K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$25.2K $25.20/SF
− Vacancy
−$1.9K −$1.89/SF
EGI
$23.3K $23.31/SF
− OpEx
−$9.3K −$9.32/SF
NOI
$14.0K $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%
$279,720
Cap Rate 7%
$199,800
Cap Rate 9%
$155,400
Alternative Uses
Best Use
Office B
$260.4K
$227.8K – $303.8K
NOI $18,225 @ 7.0% cap · market cap 11.61%
Second Best
Healthcare Medical
$199.8K
$174.8K – $233.1K
NOI $13,986 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$341.5K
$298.8K – $398.4K
NOI $23,904 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01757, MA
30,479
Population
11,833
Households
2.6
Avg Household Size
40
Median Age
34%
College-Educated
87%
High-School Grad
15.1 sq mi
ZIP Area
2,018
Density / Sq Mi
$92,951
Median Household Income
$47,975
Median Earnings
$1,702
Median Rent
$444,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- Milford Animal Hospital — 329 West St, Milford, MA 01757
Frequently Asked Questions
What type of property is this?
Medical Office Space - Reception, waiting, work, and office areas create a flexible multi-room layout.
Where is this medical office space located?
The property is located at 215 West St Milford, MA.
What is the asking price?
The asking price for this property is $157,000.
What are key features of this property?
This property features: 1,000‑square‑foot medical office condominium; Three to four private offices, plus reception, waiting, and work areas; Two private bathrooms
