926 Old Turnpike RdOakham, MA 01068

Property Details for 926 Old Turnpike Rd

Lot size

6.98 AC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

OAKH M:4060 B:0000 L:00760

APU

OAKHM4060B0000L00760

Description

This exceptional commercial compound in Oakham, MA, presents a unique investment opportunity spanning 7 acres. The property comprises three distinct buildings, offering diverse income streams and significant expansion potential. The main structure is a charming 2368 square foot Cape-style home, featuring three bedrooms, two full bathrooms, and a heated breezeway leading to a sunroom overlooking a beautifully landscaped yard. A private, 24x42 foot, updated in-ground pool adds to the property's appeal. The partially finished basement includes updated heating and a dedicated office space. A heated two-car garage completes this residential component. The second building is a 1638 square foot commercial office building, offering two floors of rentable space, each equipped with a kitchenette and a half-bath. This building presents excellent opportunities for expansion. Finally, a third building, a 1440 square foot single-family home, offers four rooms, two bedrooms, and one bathroom in an open floor plan, also with expansion possibilities. The entire property has been meticulously maintained under single-family ownership. This property is ideally suited for a 1031 exchange or as a multi-family investment, offering a blend of residential comfort and commercial viability in a desirable country setting. The property's size and diverse structures provide ample room for future development and growth. Priced at $1,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $50,268,380

  6.5%

  $46,401,584

  7%

  $43,087,184

• Comparable approach

  Method

  Valuation

  Relative Method

  $39,727,044

  Geo Method

  $39,727,044

• Alternative Use

  Use

  Valuation

  Residential

  $57,537,964

  Hospitality

  $52,704,464

  Educational

  $43,849,496

  Medical

  $45,357,548

  Retail

  $68,210,328

Location Insight

City

Oakham

County

Worcester

State

Massachusetts

Latitude

42.37

Longitude

-72.0586

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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