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    44 South St Westborough, MA 01581

    Sponsored
    For Sale
    $3,500,000

    29 Units, 7.77% Cap Rate, High NOI

    Property size:
    16,327 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a stabilized, mixed-use portfolio comprising two buildings totaling 16,327 square feet situated on a 12,169 square foot lot in Westborough, Massachusetts. The portfolio includes 29 units, a mix of apartments (including single-room occupancy units and studios), and retail space currently occupied by a long-term tenant under a NNN lease. The buildings, constructed in 1912 and extensively renovated in 2021, boast significant capital improvements including new HVAC systems, vinyl windows, sprinkler systems, fire alarms, security cameras, updated electrical panels, and interior renovations to kitchens and bathrooms. The property features a current NOI of $271,962 and a pro-forma NOI of $311,123, resulting in a 7.77% cap rate and a pro-forma cap rate of 8.89%. The asking price is $3,500,000, translating to a price per square foot of $214.37 and a price per unit of $120,689.66. The property is zoned BB and benefits from 100% occupancy with a lease expiration date of May 31, 2029, offering a remaining lease term of 4.5 years. Additional income is generated from coin-operated laundry machines in the basement. This portfolio offers a compelling blend of stable income and significant upside potential. The property is located at 44 South Street and 50 West Main Street, Westborough, MA 01581. The APN is 21-85-0.

    Property Features for 44 South St

    General Information

    Property type
    Individual retail properties
    Square Feet
    16,327 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1912/2021
    Buildings
    2
    Stories
    3
    Units
    29

    HighLights

    • 29‑unit mixed‑use property in Westborough, MA.
    • Includes residential units, single‑room occupancy units, and retail space under a long‑term NNN lease.
    • Substantial capital improvements completed in 2021, including HVAC, windows, and interior renovations.
    • Additional income generated from coin‑operated laundry facilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.6119646
    Latitude
    42.2678809

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    FAQs

    What type of property is this?
    Individual retail property - 29 Units, 7.77% Cap Rate, High NOI
    Where is this individual retail property located?
    The property is located at 44 South St Westborough, MA.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: 29-unit mixed-use property in Westborough, MA.; Includes residential units, single-room occupancy units, and retail space under a long-term NNN lease.; Substantial capital improvements completed in 2021, including HVAC, windows, and interior renovations.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    44 South St Westborough, MA 01581
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