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Property profile & analytics
FOR LEASE
Office buildings
132 Turnpike Rd Southborough, MA 01772
Entity Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-0955600
For Lease
1 / 2
$9,825,000
132 Turnpike Rd, Southborough, MA 01772
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Property summary
AI-generated overview
This three-story, 72,223-square-foot Class A office building in Southborough, MA's The Boroughs submarket offers a unique blend of medical and creative office space. Built in 2004 and extensively renovated in 2019, the property boasts 8 suites across one building, with 17,864 square feet currently available for lease. Situated on a picturesque 5-acre campus overlooking the Sudbury Reservoir, the building features high ceilings, large windows, prominent signage, a fitness center, secured access, and ample on-site parking (255 spaces). The property benefits from local ownership and on-site property management, including 24-hour on-call service. Tenants enjoy a strong co-tenant mix within the Reservoir Nine Office Park, and convenient access to a nearby retail center featuring various dining and shopping options, including Starbucks, Cold Stone Creamery, and more. One available space totals 4,166 square feet.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
71,634 SF
Lot
5 ac (217,931 SF)
Zoning code
BH
APN
SBOR M:037.0 B:0000 L:0028.0
UPID
US38-0955600
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
Current use
Occupant on record · Public records
-
Fusion Group Accounting Firm Tax Preparation
-
Global Atlantic Financial Group Financial Advisor
-
Block Engineering Engineer Corporate Office
-
Drug Rehab and Addiction Treatment in Massachusetts at Northstar Recovery Center Medical Clinic
-
Courier Service Bocsit Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.36M
Blend (final)
Blend
$9.83M
Owner & transaction history
154 Turnpike Road LLC · 21 yrs held
154 Turnpike Road LLC
since 2004
4 recorded transactions
Zoning & alternative use
BH · Southborough, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.5M
+38.7%
Retail stores
$11.2M
+15.4%
Auto repair, garage
$11.0M
+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 Southborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southborough 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
$9,740,000
Current use
RESTAURANT
$13,505,000
Change: +39% · Conversion: Moderate
RETAIL STORES
$11,240,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$10,990,000
Change: +13% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,040,000
Change: -7% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,595,000
Change: -12% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,885,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$9.83M
Range $8.84M – $10.81M · ±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
$137 / 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
$117,299
Tax year 2024
Assessed value
$8,432,700
Assessed 2024
Previous assessed
$9,377,500
-10.1% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,699,800
Assessed improvement
$6,732,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
3
Units
1
Bathrooms
8
Total area
71,634 SF
Lot
5 ac (217,931 SF)
Zoning code
BH
APN
SBOR M:037.0 B:0000 L:0028.0
UPID
US38-0955600
Jurisdiction
SOUTHBOROUGH
Zoning & alternative use
BH · Southborough, MA
Zoning BH · permitted uses
BH · Southborough, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Southborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.7M
RESTAURANT
Est. value
$13.5M
RETAIL STORES
Est. value
$11.2M
AUTO REPAIR, GARAGE
Est. value
$11.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.6M
COMMERCIAL (GENERAL)
Est. value
$7.9M
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
1
Units
1
Bathrooms
8
Lot
5 ac
Current owner
From public records · entity-resolved
154 Turnpike Road LLC
Entity
Mailing address
259 TPKE RD, SOUTHBOROUGH, MA 01772-1706
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2017
—
132 Turnpike Road LLC
—
Deed
related
$10,000,000 · Digital FCU
Jun 29, 2016
—
132 Turnpike Road LLC
—
Deed
related
$10,000,000 · Mutualone Bk
Oct 26, 2004
$1
154 Turnpike Road LLC
132 Turnpike Road LLC
Grant Deed
related
—
Sep 13, 2002
—
132 Turnpike Rd LLC
—
Deed Of Trust
related
$7,000,000 · Banknorth NA
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.
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