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    1 Technology Dr Westborough, MA 01581
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    Property profile & analytics

    1 Technology Dr Westborough, MA 01581

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    • Office buildings
    • 57,922 SF
    • 5.05 lot acres
    For Lease
    $7,735,000
    View Listing →
    Office Space in Westborough, MA For Lease
    $7,735,000

    Office Space in Westborough, MA

    Office building in a well-connected and lively environment.

    1 Technology Dr, Westborough, MA 1581
    View Listing
    Property ID
    US38-1725928
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1 Technology Dr

    Year built
    1999
    Construction
    STEEL FRAME
    Lot size
    5.05 lot acres
    Property size
    57,922 SF
    Zone code
    IB
    Property type
    Office buildings
    APN
    WBOR M:0036 B:000015 L:0
    APU
    WBORM0036B000015L0

    Description

    One Technology Drive in Westborough, MA offers exceptional Class A executive office space for lease. This three-story building, totaling 58,000 square feet, underwent a complete renovation in 2022, boasting modern amenities and a prime location. Multiple tenancy options are available, with spaces ranging from a minimum of 2,469 square feet to a maximum contiguous space of 11,809 square feet. Currently, there are 34,262 square feet of vacant, immediately available space. The building was originally constructed in 1999 and is situated in Worcester County, conveniently located at 1 Technology Drive, Westborough, MA 01581. Ample parking is provided, with a generous ratio of 3.7 spaces per 1,000 square feet. This property presents a unique opportunity for businesses seeking high-quality, modern office space in a desirable location. The building's executive office subtype caters to businesses seeking a prestigious and efficient workspace. Interested parties are encouraged to inquire about available space and lease terms. The property's convenient location and modern features make it an ideal choice for a variety of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,140,000
      Market price range: $4.29M - $12.2M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,875,000
      Current use
      RESTAURANT
      $10,920,000
      Change: +39% Conversion: Moderate
      RETAIL STORES
      $9,090,000
      Change: +15% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $8,885,000
      Change: +13% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $7,310,000
      Change: -7% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $6,950,000
      Change: -12% Conversion: Easy
      COMMERCIAL (GENERAL)
      $6,375,000
      Change: -19% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Westborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.5703
    Latitude
    42.2901
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $104,284
    $1,909,000
    $4,445,900
    $6,354,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      11,536 SF

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      View Details
    • Value Estimation
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      3,944 SF

      4 Lyman St

      OFFICE BUILDING • 3,944 SF
      4 Lyman St, Westborough, MA 01581-1419
      View Details
    • Value Estimation
      $765,000
      4,240 SF

      3 Oak St

      OFFICE BUILDING • 4,240 SF
      3 Oak St, Westborough, MA 01581-2648
      View Details
    • Value Estimation
      $3,535,000
      74,992 SF

      2200 Park Dr

      OFFICE BUILDING • 74,992 SF
      2200 Park Dr, Westborough, MA 01581-3961
      View Details
    • Value Estimation
      $20,125,000
      71,698 SF

      114 Tpke Rd

      OFFICE BUILDING • 71,698 SF
      114 Tpke Rd, Westborough, MA 01581-2861
      View Details
    • Value Estimation
      $1,785,000
      12,152 SF

      95th Tpke Rd

      OFFICE BUILDING • 12,152 SF
      95th Tpke Rd, Westborough, MA 01581-2878
      View Details

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      Route 9 Commercial Land Available

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      Westborough Mixed-Use Portfolio

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      Westborough Office/Lab/Biotech Opportunity

      Large contiguous space suitable for office, lab, or biotech uses.
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      30,000 SF

      Westborough Office Space For Rent

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      1,272 SF

      Westborough Office Park Space Available

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    • Contact for pricing

      Office Space in Westborough, MA

      Office building in a well-connected and lively environment.
      1 Technology Dr, Westborough, MA 01581
      View Details
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    Westborough, MA 01581
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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.

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