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    20 Shops Way & Rte Northborough, MA 01532
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    20 Shops Way & Rte Northborough, MA 01532

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    • Retail properties & Spaces
    • 646,902 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 20 Shops Way & Rte

    Property size
    646,902 SF
    Property type
    Retail properties & Spaces

    Description

    Northborough Crossing offers a significant retail opportunity in Worcester County. This multi-tenant commercial property boasts a total of 646,902 square feet of space, with a currently available unit of 4,442 square feet. The property is classified as retail commercial and is ideal for businesses seeking high visibility and accessibility. The substantial size of the overall property suggests a well-established and thriving retail center, providing potential tenants with the benefit of shared infrastructure and a built-in customer base. The available 4,442 square feet presents a versatile space suitable for a variety of retail uses, allowing for customization to meet specific business needs. The property's location within Worcester County offers access to a significant population base and strong regional economic activity. This presents a compelling opportunity for businesses looking to establish or expand their presence in a dynamic and prosperous market. Interested parties are encouraged to inquire further to explore the possibilities of leasing this exceptional retail space and becoming part of the vibrant Northborough Crossing community. The property's size and location make it an attractive investment for businesses seeking a strong foothold in a thriving retail environment. Further details regarding lease terms and conditions are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Northborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.6683
    Latitude
    42.2858

    Comparable in this City

    • Value Estimation by Request
      645,785 SF

      9012 Shops Way

      Restaurants • 645,785 SF
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    • Value Estimation
      $20,165,000
      177,201 SF

      200 Otis St

      DEPARTMENT STORE • 177,201 SF
      200 Otis St, Northborough, MA 01532-2442
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    • Value Estimation by Request
      3,200 SF

      20 Allen Ct

      SHOW ROOM, WAREHOUSE • 3,200 SF
      20 Allen Ct, Northborough, MA 01532-1616
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    • Value Estimation
      $4,695,000
      69,000 SF

      456 Main St

      SHOW ROOM, WAREHOUSE • 69,000 SF
      456 Main St, Northborough, MA 01532-1608
      View Details
    • Value Estimation
      $560,000
      12,000 SF

      111 Otis St

      SHOW ROOM, WAREHOUSE • 12,000 SF
      111 Otis St, Northborough, MA 01532-2414
      View Details
    • Value Estimation
      $2,265,000
      9,464 SF

      5 Goddard Rd

      SHOW ROOM, WAREHOUSE • 9,464 SF
      5 Goddard Rd, Northborough, MA 01532-1545
      View Details

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    Similar Nearby for Lease

    • $4,000 /Mo

      Renovated Commercial Units on Route 20

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      Retail Space in Northborough Center

      Retail spaces available in a power shopping center.
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      Northborough Crossing Retail Space Available

      Retail spaces available in a large power center.
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      Newly constructed retail development with high visibility and ample parking.
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      View Details
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    Northborough, MA 01532
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    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
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    20 Shops Way & Rte, Northborough, MA, 01532
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