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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    162 Cordaville Rd Southborough, MA 01772-1838

    • Commercial real estate
    • 5,680 SF
    • 10.52 lot acres
    OFF-MARKET
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    8.7%
    Commercial real estate
    Location Intelligence
    Property ID
    US38-1298032
    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

    • Yama Fuji Asian Cuisine / Japanese Steakhouse / Sushi Restaurant
    • Hashtag Beauty Lounge / Hairdresser
    • Eros Gourmet Pizza & Deli / Takeout Restaurant / Sandwich Shop
    • Karma Chiropractic / Chiropractor
    • Sandy's School / Day Care Center / Preschool

    Property Details for 162 Cordaville Rd

    Year built
    1998
    Lot size
    10.52 lot acres
    Property size
    5,680 SF
    Zone code
    I
    Property type
    Commercial real estate
    APN
    SBOR M:028.0 B:0000 L:0017.0
    APU
    SBORM0280B0000L00170

    Description

    Town Center, a Class A retail property in Worcester County's The Boroughs submarket, offers a prime 1,813 square foot retail or medical office space for lease. Located at the intersection of Route 85 and Route 9, this easily accessible location provides excellent visibility and convenience for commuters traveling between Hopkinton, Southborough, Boston, and Worcester. The property consists of two single-story buildings totaling 32,610 square feet, encompassing fifteen suites. Currently, 1,813 square feet are vacant and immediately available. This space represents the minimum divisible unit, and the maximum contiguous space available is also 1,813 square feet. Built in 1998, the property sits on 10 acres of land and features ample parking, enhancing the shopping experience for customers. The center boasts upgraded pylon signage, ensuring high visibility for tenants. The property is designed for walkability, creating a welcoming and convenient atmosphere. This is an exceptional opportunity for businesses seeking a well-maintained, highly visible location within a thriving community. The property offers a blend of retail and office space, making it suitable for a variety of uses. The absence of elevators is noted.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $590,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $855,000
      6.5%
      $790,000
      7%
      $730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $972,000
      Market price range: $360k - $973k
      AI Estimate
      $1,091,000
      Market price range: $235k - $1.09M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $625,000
      Current use
      RESTAURANT
      $1,070,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $890,000
      Change: +43% Conversion: Easy
      AUTO REPAIR, GARAGE
      $870,000
      Change: +39% Conversion: Difficult
      OFFICE BUILDING
      $770,000
      Change: +24% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $715,000
      Change: +15% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $680,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Southborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.5252
    Latitude
    42.2874
    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
    $76,657
    $883,500
    $4,627,400
    $5,510,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $16,910,000
      9.30 Acres

      28 Newton St

      COMMERCIAL (GENERAL) • 9.30 Acres
      28 Newton St, Southborough, MA 01772-1215
      View Details
    • Value Estimation by Request
      900 SF

      110 Southville Rd

      COMMERCIAL (GENERAL) • 900 SF
      110 Southville Rd, Southborough, MA 01772-2081
      View Details
    • Value Estimation by Request
      1,976 SF

      357 Tpke Rd

      SHOW ROOM, WAREHOUSE • 1,976 SF
      357 Tpke Rd, Southborough, MA 01772
      View Details
    • Value Estimation
      $1,545,000
      8,056 SF

      40 Southville Rd

      SHOW ROOM, WAREHOUSE • 8,056 SF
      40 Southville Rd, Southborough, MA 01772-4027
      View Details
    • Value Estimation by Request
      922 SF

      71 Tpke Rd

      COMMERCIAL (GENERAL) • 922 SF
      71 Tpke Rd, Southborough, MA 01772-2109
      View Details
    • Value Estimation by Request
      8,800 SF

      155 Boston Rd

      COMMERCIAL (GENERAL) • 8,800 SF
      155 Boston Rd, Southborough, MA 01772-1650
      View Details

    Similar Nearby for Sale

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      Two Buildings, 3,148 SF, High Visibility
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    • $1,299,000

      Southborough Land Near Town Commons

      Land near schools and town amenities in Southborough, Massachusetts.
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      2,000 SF flex space near major routes.
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    • $199,000
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      Framingham Retail Liquor License

      Prime Framingham Location: Liquor License Transfer
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    • $1,495,000

      Industrial Land For Sale

      Three acres of industrial land available for purchase.
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    • $995,000
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      Route 9 Office Buildings

      Two standalone buildings with high-visibility signage on Route 9.
      71-73 Turnpike Rd, Southborough, MA 01772
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      72,000 SF

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      Premium Office Space, Route 9 Access
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      View Details
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      Southborough Office Space For Lease

      1,650 SF office space in central Southborough location.
      30 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing
      4,166 SF

      Class A Office Space Available

      72,000 SF Class A office space for lease.
      132 Turnpike Rd, Southborough, MA 01772
      View Details
    • Contact for pricing
      2,842 SF

      Class A Office Building

      50,000 SF office building with fitness facility.
      134 Turnpike Rd, Southborough, MA 01772
      View Details
    • $22 SF/Yr

      Retail Space on Route 9

      Retail space available for lease on Route 9.
      255 Turnpike Rd, Southborough, MA 01772
      View Details
    • $1.00 SF/Yr
      29,906 SF

      Southborough Warehouse Space Available

      Industrial warehouse space for lease in Southborough, Massachusetts.
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      View Details
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    162 Cordaville Rd
    Southborough, MA 01772-1838
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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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