Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    107 Otis St Northborough, MA 01532-2459

    • Office buildings
    • 21,338 SF
    • 7.35 lot acres
    OFF-MARKET
    Last Sale
    Dec 08, 2021
    $2,150,000
    Value Estimations
    $2,110,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1520620
    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.

    Current Use by Public Records

    • Sanders Bathroom Remodeling of Northborough / Renovation Specialist / General Contractor
    • M D Dental Ceramics Studio / Dental Office
    • Stephanie Bejtlich, MS / Physician
    • Sri Shirdi Sai Baba Temple / Temple
    • Meg Favulli / Physician

    Property Details for 107 Otis St

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    7.35 lot acres
    Property size
    21,338 SF
    Zone code
    BS
    Property type
    Office buildings
    APN
    NBOR M:1050 L:0047
    APU
    NBORM1050L0047

    Description

    This exceptional two-story medical office building, located at 107 Otis Street in Northborough, Massachusetts, presents a unique investment opportunity. Boasting 21,700 square feet of space, the building sits on a generous 7.35 acres of land and is conveniently zoned BS, Industrial District (APN: NBOR-001050-000000-000047). Constructed in 1986 and renovated in 2001, the Class B building offers multiple tenancy options with two spaces currently available, ranging from 5,245 to 10,850 square feet. The property features a desirable 13-foot ceiling height throughout, providing ample space and flexibility for various medical practices. Ample parking is provided with 76 spaces available for tenants and visitors. The building is equipped with elevators for convenient access to both floors. Its location in Worcester County, Massachusetts, offers easy access to major transportation routes and a thriving community. This property is an ideal choice for medical professionals seeking a well-maintained, spacious, and conveniently located office space in a desirable area. The property's size and features make it suitable for a variety of medical practices or a single large tenant. The ample parking and convenient location are key advantages for both patients and staff. This is a rare opportunity to acquire a well-established medical office building in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,120,000
      ML approach
      $2,015,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,580,000
      Market price range: $1.58M - $4.50M
      AI Estimate
      $1,484,000
      Market price range: $1.14M - $3.75M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,900,000
      Current use
      RETAIL STORES
      $3,350,000
      Change: +15% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $3,275,000
      Change: +13% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,695,000
      Change: -7% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,560,000
      Change: -12% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,350,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Northborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.6546
    Latitude
    42.2898
    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
    $28,590
    $0.00
    $2,002,100
    $2,002,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $510,000
      6,862 SF

      145 Otis St

      OFFICE BUILDING • 6,862 SF
      145 Otis St, Northborough, MA 01532-2414
      View Details
    • Value Estimation
      $715,000
      9,522 SF

      31 Pierce St

      OFFICE BUILDING • 9,522 SF
      31 Pierce St, Northborough, MA 01532-1938
      View Details
    • Value Estimation
      $1,660,000
      10,956 SF

      360 Church St

      OFFICE BUILDING • 10,956 SF
      360 Church St, Northborough, MA 01532-1240
      View Details
    • Value Estimation by Request
      3,600 SF

      109 Main St

      OFFICE BUILDING • 3,600 SF
      109 Main St, Northborough, MA 01532-1825
      View Details
    • Value Estimation
      $540,000
      6,000 SF

      82 Main St

      OFFICE BUILDING • 6,000 SF
      82 Main St, Northborough, MA 01532-1879
      View Details
    • Value Estimation by Request
      2,005 SF

      107 Main St

      OFFICE BUILDING • 2,005 SF
      107 Main St, Northborough, MA 01532-1913
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      32,000 SF

      Northborough Flex and Office Building

      32,000 SF building with flex and office space.
      155 Otis St, Northborough, MA 01532
      View Details
    • $325,000
      2,250 SF

      Office/Industrial Condos For Sale

      Office/industrial condos for sale with immediate availability.
      265 Main St, Northborough, MA 01532
      View Details
    • $1,395,000

      Mixed-Use Flex Space Available

      Fully leased mixed-use property with flex, retail, office, apartment.
      94 Main St, Northborough, MA 01532
      View Details
    • $425,000
      2.47 Acres

      Northborough Buildable Lot Near Mt. Pisgah

      Buildable lot in desirable location with convenient access to amenities.
      429 Howard St, Northborough, MA 01532
      View Details
    • $525,000
      5.37 Acres

      Residential Land in Castle Subdivision

      Buildable lot in Northborough's sought-after Castle neighborhood.
      25 Castle Rd, Northborough, MA 01532
      View Details
    • $333,336
      4.34 Acres

      Northborough Land For Sale

      Residential land available in Northborough, Massachusetts.
      343 Newton St, Northborough, MA 01532
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,400 SF

      Modern Commercial Space in Northborough

      10,000 sq ft commercial space for lease.
      145 Otis St, Northborough, MA 01532
      View Details
    • $4,600 /Mo
      3,500 SF

      Northborough Warehouse with Office Space

      3,500 SF warehouse with office space available for lease.
      329 W Main St, Northborough, MA 01532
      View Details
    • Contact for pricing
      5,800 SF

      Northborough Flex/Industrial/Office Space For Lease

      Versatile space suitable for office, flex, industrial, or warehouse uses.
      10 Bearfoot Rd, Northborough, MA 01532
      View Details
    • Contact for pricing
      4,241 SF

      Mixed-Use Commercial Building For Rent

      Two-story commercial building with retail, dining, office, and medical spaces.
      318 Main St, Northborough, MA 01532
      View Details
    • $4,000 /Mo
      4,116 SF

      Renovated Showroom and Storage Space

      Renovated commercial units with showroom and storage space available.
      168 Main St, Northborough, MA 01532
      View Details
    • Contact for pricing
      6,745 SF

      Northborough Pad Site For Lease

      Pad site available for lease with build-to-suit options.
      300 West Main St, Northborough, MA 01532
      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.
    107 Otis St
    Northborough, MA 01532-2459
    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

    Google sign-in failed. Please try again or use another login method.