New search
Property profile & analytics
FOR LEASE
Office buildings
1 Technology Dr, Westborough, MA 01581
Entity Owned
13-yr Hold
Free & Clear
Property ID
US38-1725928
For Lease
1 / 23
$7,735,000
1 Technology Dr, Westborough, MA 01581
View Listing →
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Construction
STEEL FRAME
Total area
57,922 SF
Lot
5.05 ac (220,035 SF)
Zoning code
IB
APN
WBOR M:0036 B:000015 L:0
UPID
US38-1725928
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.14M
Blend (final)
Blend
$7.74M
Owner & transaction history
1 Tech Works LLC · 13 yrs held
1 Tech Works LLC
since 2012
6 recorded transactions
Zoning & alternative use
IB · Westborough, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.9M
+38.7%
Retail stores
$9.1M
+15.4%
Auto repair, garage
$8.9M
+12.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Westborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westborough submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$7.74M
Range $6.96M – $8.51M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$134 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$104,284
Tax year 2024
Assessed value
$6,354,900
Assessed 2024
Previous assessed
$6,354,900
+0.0% YoY
Effective rate
1.64%
On assessed value
Assessed land
$1,909,000
Assessed improvement
$4,445,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1999
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
57,922 SF
Lot
5.05 ac (220,035 SF)
Zoning code
IB
APN
WBOR M:0036 B:000015 L:0
UPID
US38-1725928
Jurisdiction
WESTBOROUGH
Zoning & alternative use
IB · Westborough, MA
Zoning IB · permitted uses
IB · Westborough, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Westborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$7.9M
RESTAURANT
Est. value
$10.9M
RETAIL STORES
Est. value
$9.1M
AUTO REPAIR, GARAGE
Est. value
$8.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$6.4M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
5.05 ac
Current owner
From public records · entity-resolved
1 Tech Works LLC
Entity
Free & Clear · 13 yrs held
Mailing address
2 TECHNOLOGY DR, WESTBOROUGH, MA 01581-1727
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2012
$7,665,000
1 Tech Works LLC
One Tech Westborough LLC
Grant Deed
—
Mar 30, 2006
$9,212,500
1 Tech Westborough LLC
Westborough Off Ctr In
Deed
$7,550,000 · Lehman Bros Bk Fsb
Sep 10, 2001
—
Westborough Office Ctr
—
Deed Of Trust
related
$1,786,500 · Tcdfw Spoke LP
Oct 3, 2000
$10,000,000
Westborough Office Ctr
Ne Aspen Westborough
Grant Deed
related
—
Sep 25, 1998
—
1 Tech Drive LLC
—
Deed Of Trust
related
$7,887,500 · Key Bank NA
Aug 26, 1998
$825,000
One Tech Drive LLC
Ihc Realty Partnership
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
