538 Hartford TpkeShrewsbury, MA 01545

Property Details for 538 Hartford Tpke

Year built

1952

Construction

FRAME

Lot size

2.07 AC

Property size (Sq ft)

2,372 SF

Zone code

LI

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

SHRE M:48 B:009002

APU

SHREM48B009002

Description

This exceptional commercial condo, situated on a highly visible 2.07-acre lot on Route 20 in Shrewsbury, MA, presents a unique investment opportunity. The property boasts 100% business exposure, ideal for a variety of professional uses, including dental, legal, or medical practices. Its convenient location near Hebert's Candy Mansion ensures high traffic and excellent brand visibility. The building itself is a fully furnished, luxury space, ready for immediate occupancy. The first floor features five offices, a spacious waiting room, and a well-equipped conference room, complete with leather couches, desks, and televisions. The property is designed for ultimate convenience, offering ample parking, even accommodating large industrial trucks and providing outside storage. The building is equipped with gas heat and air conditioning. Its zoning as light industrial allows for diverse business applications. The strategic location offers easy access to major roadways, including the Mass Pike, Routes 9, 146, 290, and 495, as well as proximity to the train. This turnkey property is a rare find, combining prime location, luxurious amenities, and exceptional functionality. Priced at $1,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $392,162

  6.5%

  $361,996

  7%

  $336,139

• Comparable approach

  Method

  Valuation

  Relative Method

  $309,926

  Geo Method

  $309,926

• Alternative Use

  Use

  Valuation

  Residential

  $448,875

  Hospitality

  $411,167

  Educational

  $342,086

  Medical

  $353,851

  Retail

  $532,134

Location Insight

City

Shrewsbury

County

Worcester

State

Massachusetts

Latitude

42.2585

Longitude

-71.6997

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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