Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    371 Turnpike Rd Southborough, MA 01772
    Back to Search
    Property profile & analytics

    371 Turnpike Rd Southborough, MA 01772

    View on Map
    • Office Spaces
    • 50,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 21st Century Benefit Advisors / Insurance Agency
    • Cmea the Employers Association / Social Service Agency / Charitable Organization
    • JLG Technologies, LLC / Professional Services
    • Vectura Inc / Factory / Production Facility
    • Pamet Software LLC / Corporate Office

    Property Details for 371 Turnpike Rd

    Year built
    2000
    Property size
    50,000 SF
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional three-story office building, located at 371 Turnpike Rd, Southborough, MA 01772, offers 50,000 square feet of prime office space. Situated at the intersection of Route 9 and I-495, this highly visible property enjoys convenient access to the Massachusetts Turnpike and is within a 35-minute drive of Boston and Logan International Airport. Built in 2000 and extensively renovated in 2019, the building features a stunning double-height atrium lobby with floor-to-ceiling windows, providing abundant natural light. Tenants have access to a well-equipped fitness center with shower facilities and conference rooms. Currently, there are 10 suites, with 12,087 square feet of vacant space available, offering flexible floor plans and sizes ranging from 2,260 to 9,244 square feet, ready for immediate occupancy. The building includes elevators and is a multi-tenant property within the desirable Boroughs submarket. Surrounding amenities include numerous retail, restaurant, and hotel options. This property presents a unique opportunity for businesses seeking a modern, well-maintained office space in a highly accessible and convenient location. The building boasts professional on-site management and is ideal for both traditional and medical office uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Southborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.5619
    Latitude
    42.2897

    Comparable in this City

    • Value Estimation
      $15,070,000
      60,703 SF

      24 Newton St

      MEDICAL BUILDING • 60,703 SF
      24 Newton St, Southborough, MA 01772-1215
      View Details
    • Value Estimation
      $1,595,000
      6,120 SF

      200 Tpke Rd Ste, Unit 1

      CONDOMINIUM OFFICES • 6,120 SF
      200 Tpke Rd Ste, Southborough, MA 01772-2116
      View Details
    • Value Estimation by Request
      1,626 SF

      30 Tpke Rd Ste, Unit 10

      CONDOMINIUM OFFICES • 1,626 SF
      30 Tpke Rd Ste, Southborough, MA 01772-2115
      View Details
    • Value Estimation by Request
      2,543 SF

      30 Tpke Rd Ste, Unit 7

      CONDOMINIUM OFFICES • 2,543 SF
      30 Tpke Rd Ste, Southborough, MA 01772-2115
      View Details
    • Value Estimation by Request
      2,049 SF

      30 Tpke Rd Ste, Unit 9

      CONDOMINIUM OFFICES • 2,049 SF
      30 Tpke Rd Ste, Southborough, MA 01772-2115
      View Details
    • Value Estimation by Request
      2,002 SF

      30 Tpke Rd Ste, Unit 1

      CONDOMINIUM OFFICES • 2,002 SF
      30 Tpke Rd Ste, Southborough, MA 01772-2114
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,148 SF

      Route 9 Office Buildings

      Two standalone buildings with high-visibility signage on Route 9.
      71-73 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing

      Route 9 Industrial Investment

      15,500 SF light industrial building on 3.81 acres.
      251 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing

      Route 9 Industrial Building

      15,500 SF light industrial building on 3.81 acres.
      251 Turnpike Rd, Southborough, MA 01772
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Southborough, Massachusetts.
      352 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing

      Flex, Industrial, and Office Space

      Flex, industrial, and office spaces available for lease.
      200 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing

      Southborough Office Suites For Rent

      Office suites available with convenient highway access in Southborough, MA.
      225 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing
      4,166 SF

      Class A Office Space Available

      72,000 SF Class A office space for lease.
      132 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing

      Southborough Warehouse Space for Lease

      Warehouse space with highway access and convenient amenities.
      21 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing
      4,281 SF

      Southborough Office Space on Route 9

      Centrally located office space with high visibility on Route 9.
      257 Turnpike Rd, Southborough, MA 01772
      View Details
    Request Owner's contact information
    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.
    371 Turnpike Rd
    Southborough, MA 01772
    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
    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

    Thank You for Inquiry
    371 Turnpike Rd, Southborough, MA, 01772
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!