Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    407 Main St Spencer, MA 01562

    For Lease
    $22 SF/Yr

    6,271 SF Medical Office Available

    Lot size:
    13,273 SF

    Property Features for 407 Main St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,273 SF
    Class
    C
    Total Rate
    24333.83

    Spaces For Lease

    at 407 Main St, Spencer, MA 01562 Contact us
    Unit Suite B

    $22 /Mo

    Size
    6,271 SF
    Contact us

    We can help!

    Listing Contact
    Brian Johnson
    Brian Johnson

    Listing Agency: Kelleher & Sadowsky Associates Inc Listing Agent: Brian Johnson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This 6,271 square foot medical office space, located at 407 E. Main Street in Spencer, Massachusetts, presents a unique opportunity. Situated in a Class C building totaling 13,273 square feet, this suite offers a versatile layout previously used for internal medicine. The space includes exam rooms, consultation rooms, check-in counters, and reception areas, ready for immediate occupancy. The building features a convenient parking ratio of 8 spaces per 1,000 square feet, ensuring ample parking for patients and staff. The property is located in Worcester County, MA, with the zip code 01562. This multi-tenant building also houses Spencer Veterinary Hospital in Suite A. The property is categorized as a medical office and offers a single, large suite. This is an excellent opportunity for a medical practice seeking established space with existing infrastructure. The property's location in Spencer offers easy access for patients and employees. The available space is ideal for a variety of medical specialties, given its existing layout and ample parking. The building's overall size is 13,273 square feet. This listing presents a turnkey solution for a medical practice looking to establish or expand its presence in the Spencer, MA area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Ronald S. ... Pediatrician Fillipon Nicholas G ... Physician Sama Ralph J ... Geriatric Care Provider Harden Kathryn E Physician Reliant Medical Group ... Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    City
    Spencer
    County
    Worcester
    State
    Massachusetts

    Nearby Similar for Lease

    • New
      $2,725 /Mo
      1,696 SF

      Mixed-Use Property in Spencer, MA

      Storefront with attached apartment for lease on Route 9.
      200 Main St, Spencer, MA 01562
      View Details
    • $1,250 /Mo
      2,365 SF

      Versatile Commercial Space in Spencer

      Adaptable retail space near transportation, schools, and town amenities.
      200 Main St, Spencer, MA 01562
      View Details
    • New
      $1,000 /Mo
      938 SF

      Route 9 Showroom Space

      Storefront showroom space for lease near the center of Spencer.
      200 Main St, Spencer, MA 01562
      View Details
    • $4,000 /Mo

      Retail Space For Lease

      Retail space available for lease with heavy vehicle traffic.
      160 Main St, Spencer, MA 01562
      View Details
    • Contact for pricing
      1,329 SF

      Retail Space on Route 9

      Retail space available on a busy thoroughfare, Route 9.
      72 W Main St, Spencer, MA 01562
      View Details

    FAQs

    What type of property is this?
    Medical office - 6,271 SF Medical Office Available
    Where is this medical office located?
    The property is located at 407 Main St Spencer, MA.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: 6,271 SF medical office suite available for immediate occupancy at 407 E. Main Street, Spencer, MA 01562.; Located in a 13,273 SF Class C multi-tenant building with ample parking (8 spaces/1,000 SF).; Features exam rooms, consultation rooms, check-in counters, and reception areas.
    (508) 635-6783
    Request Owner's contact information
    407 Main St Spencer, MA 01562
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    407 Main St
    Spencer, MA 01562
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    407 Main St Spencer, MA 01562
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brian Johnson
    Brian Johnson
    Real Estate License ID: 9536903
    (508) 635-6783 (774) 272-1112 (508) 755-0707
    Learn more
    Google sign-in failed. Please try again or use another login method.