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    Property profile & analytics

    161 E Main St Milford, MA 01757

    • Auto shops
    • 36,080 SF
    • 2.75 lot acres
    For Lease
    View listing
    Last Sale
    Oct 02, 2024
    $3,800,000
    Value Estimations
    $3,800,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1286635
    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

    • AutoZone Auto Parts / Auto Parts Store
    • Cans And Bottles Redemption Center / Recycling Center
    • Big Y Bakery / Bakery / Specialty Food Shop
    • Big Y Deli / Food Market / Restaurant
    • Dollar general 1 / Department Store

    Property Details for 161 E Main St

    Year built
    1960
    Construction
    STEEL FRAME
    Lot size
    2.75 lot acres
    Property size
    36,080 SF
    Zone code
    CC
    Property type
    Auto shops
    APN
    MILF M:42 B:000 L:334
    APU
    MILFM42B000L334

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,800,000
      ML approach
      $3,800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,765,000
      Market price range: $2.77M - $8.78M
      AI Estimate
      $2,330,000
      Market price range: $2.33M - $6.67M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $5,535,000
      Current use
      RETAIL STORES
      $5,660,000
      Change: +2% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,555,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.5045
    Latitude
    42.1492
    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
    $51,671
    $1,293,700
    $851,200
    $2,144,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $660,000
      4,684 SF

      10 Charles Riv Rd

      AUTO REPAIR, GARAGE • 4,684 SF
      10 Charles Riv Rd, Milford, MA 01757-3665
      View Details
    • Value Estimation by Request
      1,215 SF

      49 Main St

      AUTO REPAIR, GARAGE • 1,215 SF
      49 Main St, Milford, MA 01757-2703
      View Details
    • Value Estimation
      $1,940,000
      1,800 SF

      58 Main St, Unit 60

      AUTO REPAIR, GARAGE • 1,800 SF
      58 Main St, Milford, MA 01757-2702
      View Details
    • Value Estimation
      $780,000
      9,139 SF

      7 Water St

      AUTO REPAIR, GARAGE • 9,139 SF
      7 Water St, Milford, MA 01757-4105
      View Details
    • Value Estimation by Request
      2,034 SF

      63 Central St

      AUTO REPAIR, GARAGE • 2,034 SF
      63 Central St, Milford, MA 01757-3325
      View Details
    • Value Estimation by Request
      4,500 SF

      7 Charles Riv Rd

      AUTO REPAIR, GARAGE • 4,500 SF
      7 Charles Riv Rd, Milford, MA 01757-3647
      View Details

    Similar Nearby for Sale

    • $1,300,000

      Turn-Key Auto Body Shop Opportunity

      Established auto body shop with equipment, inventory, and living suite.
      60 West St, Milford, MA 01757
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      Freestanding Building in Central Business District

      4,000 SF building on 0.48-acre corner parcel in Milford, MA.
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      Milford Storefront Business Sale

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      Retail Storefront in Downtown Milford

      400 SF retail/office space in downtown Milford, Massachusetts.
      14 Exchange St, Milford, MA 01757
      View Details
    • $5,900,000
      82,350 SF

      Retail Plaza on Route 140

      Neighborhood shopping center on a busy street with recognizable tenants.
      146 S Main St, Milford, MA 01757
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    • $989,900

      Restaurant Ready Commercial Space

      Turnkey restaurant space on Rt. 16 with high visibility.
      198 E Main St, Milford, MA 01757
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    Similar Nearby for Lease

    • $1.00 SF/Yr

      Milford Industrial Parking/Storage Terminal

      1.5-acre paved lot in Milford's Industrial Park available for lease.
      3 Industrial Dr, Milford, MA 01757
      View Details
    • Contact for pricing

      Retail Space in Milford Center

      6,364 SF retail space available immediately in Milford, MA.
      Milford, MA 01757
      View Details
    • Contact for pricing
      3,300 SF

      Milford Retail Space Available

      3,300 SF retail space at Routes 16 & 109.
      9 Medway Rd, Milford, MA 01757
      View Details
    • Contact for pricing
      12,000 SF

      Retail Space in Milford Center

      Retail space available in a busy Milford shopping center.
      161 E Main St, Milford, MA 01757
      View Details
    • Contact for pricing
      5,000 SF

      Prime Retail Space in Milford

      Built-to-suit retail opportunity in a high-traffic Milford plaza.
      350 E Main St, Milford, MA 01757
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space Near Route 495

      1,500 SF retail space conveniently located off Route 495.
      200 Fortune Blvd, Milford, MA 01757
      View Details

    Property Visit Statistics

    • Visits by month
      4.7k
    • Visitors by month
      3.7k
    • Avg Time on site
      33 min
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    161 E Main St
    Milford, MA 01757
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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.

    More about this property
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