Five-Unit Medical Office
307 Grafton Street, Shrewsbury, MA 01545
For Sale
$3,600,000
Commercial Sale, Shrewsbury, MA
Property Size10,368 SF
Lot Size1.41 Acres
Price / SF$347.22
Days on Market57
Property Features for 307 Grafton Street
General Information
Property type
Property subtype
Zoning
Zoning description
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Listing Agency:
Keller Williams Realty North Central
Listed By:
Rochelle Jonswold
(978) 840-9000
Added: Sep 14
Changed: Oct 2
Last Checked: Nov 9 at 3:06AM
MLS# 73576636
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2004, this 10,368-square-foot medical office property contains five commercial units on 1.41 acres. Three established medical office tenants occupy the building under long-term NNN leases, while 3,600 square feet remains available for an owner-user or additional leasing. The available area supports a medical practice, professional services firm, or corporate office seeking a visible Shrewsbury location.
The property sits at the intersection of Route 9 and Route 140, with regional connectivity to I-495, I-290, and the Massachusetts Turnpike. Its Commercial zoning and five-unit configuration provide a combination of existing medical occupancy and flexible space within the Worcester County market.
The property sits at the intersection of Route 9 and Route 140, with regional connectivity to I-495, I-290, and the Massachusetts Turnpike. Its Commercial zoning and five-unit configuration provide a combination of existing medical occupancy and flexible space within the Worcester County market.
Key Highlights
- 10,368‑square‑foot medical office property on 1.41 acres
- Five commercial units, including three established medical office tenants
- Long‑term NNN leases in place with three medical office tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$188,957
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,779,140
$3.8M
Cap Rate 7%
$2,699,386
$2.7M
Cap Rate 9%
$2,099,522
$2.1M
Market Conditions
NOI Build-Up for 10,368 SF
Gross rent
$311.0K $30.00/SF
− Vacancy
−$59.1K −$5.70/SF
EGI
$251.9K $24.30/SF
− OpEx
−$63.0K −$6.08/SF
NOI
$189.0K $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 Rate 5%
$3,779,140
Cap Rate 7%
$2,699,386
Cap Rate 9%
$2,099,522
Alternative Uses
Best Use
Office B
$2.70M
$2.36M – $3.15M
NOI $188,957 @ 7.0% cap · market cap 5.25%
Second Best
Healthcare Medical
$2.07M
$1.81M – $2.42M
NOI $145,007 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,837 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01545, MA
38,316
Population
15,318
Households
2.5
Avg Household Size
41
Median Age
66%
College-Educated
96%
High-School Grad
20.8 sq mi
ZIP Area
1,842
Density / Sq Mi
$136,225
Median Household Income
$74,718
Median Earnings
$2,046
Median Rent
$555,500
Median Home Value
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Market
Average Price Trend$/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 - Medical office property with three established NNN medical tenants and space for an owner-occupant.
Where is this medical office space located?
The property is located at 307 Grafton Street Shrewsbury, MA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 10,368‑square‑foot medical office property on 1.41 acres; Five commercial units, including three established medical office tenants; Long‑term NNN leases in place with three medical office tenants
