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    Property profile & analytics

    168 Main St Northborough, MA 01532

    • Investment properties
    • 3,739 SF
    • 0.50 lot acres
    For Lease
    View listing
    $4,000 /Mo
    Last Sale
    Sep 30, 2022
    $810,000
    Value Estimations
    $630,000
    Cap Rate Potential
    5.2%
    Investment properties
    Location Intelligence
    Property ID
    US38-0443494
    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

    • New England Design & Remodel / Cabinet Store
    • Synthenet Corporation / Website Designer / Software Company
    • Pongo Resume® / Resume Service

    Property Details for 168 Main St

    Year built
    2011
    Lot size
    0.50 lot acres
    Property size
    3,739 SF
    Zone code
    BE
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NBOR M:0470 L:0009
    APU
    NBORM0470L0009

    Description

    This exceptional 4,116 square foot Class B office building, constructed in 1900 and located in Worcester County at 168 Main Street, presents a unique investment opportunity. Currently, 3,189 square feet are available for lease, offering flexible tenancy options. The space can be leased as a single unit or subdivided to accommodate various business needs. A key feature is a 1,292 square foot showroom boasting prominent Route 20 frontage and abundant natural light from large windows. Two additional private offices, totaling 469 square feet, provide dedicated workspace adjacent to the showroom. Furthermore, the property includes 1,428 square feet of recently renovated storage space, complete with a private office, ideal for inventory or archives. This versatile property is perfect for businesses seeking a blend of showroom, office, and storage space in a desirable Worcester County location. The building's classic architecture blends seamlessly with modern updates, creating a functional and attractive workspace. The multiple tenancy option allows for scalability and adaptability to suit a range of business sizes and requirements. This is a rare opportunity to secure a well-located, adaptable commercial space in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $645,000
      ML approach
      $560,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $840,000
      6.5%
      $775,000
      7%
      $720,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $422,000
      Market price range: $237k - $640k
      AI Estimate
      $453,000
      Market price range: $149k - $733k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $410,000
      Current use
      RETAIL STORES
      $585,000
      Change: +43% Conversion: Easy
      AUTO REPAIR, GARAGE
      $575,000
      Change: +39% Conversion: Difficult
      OFFICE BUILDING
      $510,000
      Change: +24% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $470,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Northborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.6197
    Latitude
    42.3287
    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
    $11,535
    $265,200
    $542,600
    $807,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $295,000
      3,530 SF

      33 Ss St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,530 SF
      33 Ss St, Northborough, MA 01532-2663
      View Details
    • Value Estimation
      $210,000
      980 SF

      17-21 Bartlett St

      OFFICE/RESIDENTIAL (MIXED USE) • 980 SF
      17-21 Bartlett St, Northborough, MA 01532
      View Details
    • Value Estimation
      $350,000
      4,116 SF

      168 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,116 SF
      168 Main St, Northborough, MA 01532-1624
      View Details
    • Value Estimation
      $295,000
      1,623 SF

      12 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,623 SF
      12 Main St, Northborough, MA 01532-1924
      View Details
    • Value Estimation
      $950,000
      4,590 SF

      5 Ml St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,590 SF
      5 Ml St, Northborough, MA 01532-1905
      View Details
    • Value Estimation
      $185,000
      805 SF

      12-14 King St

      OFFICE/RESIDENTIAL (MIXED USE) • 805 SF
      12-14 King St, Northborough, MA 01532
      View Details

    Similar Nearby for Sale

    • $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
    • $1,500,000
      7,632 SF

      Mixed-Use Property with Residential Units

      Versatile property with retail space and townhouse-style condominiums.
      90 W Main St, Northborough, MA 01532
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    • $333,336
      4.34 Acres

      Northborough Land For Sale

      Residential land available in Northborough, Massachusetts.
      343 Newton St, Northborough, MA 01532
      View Details
    • $525,000
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      Residential Land in Castle Subdivision

      Buildable lot in Northborough's sought-after Castle neighborhood.
      25 Castle Rd, Northborough, MA 01532
      View Details
    • New
      $425,000
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      Northborough Buildable Lot Near Mt. Pisgah

      Buildable lot in desirable location with convenient access to amenities.
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    • 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

    Similar Nearby for Lease

    • Contact for pricing
      1,959 SF

      Northborough Flex Space Available

      Premier flex space in an amenity-rich location near major routes.
      333 SW Cutoff, Northborough, MA 01532
      View Details
    • Contact for pricing
      645,785 SF

      Northborough Crossing Retail Space

      Prime Retail Space, Multiple Units Available
      9012 Shops Way, Northborough, MA 01532
      View Details
    • $11 SF/Yr
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      Northborough Office Space for Lease

      Flexible workspace solutions in MA.
      44 Bearfoot Rd, Northborough, MA 01532
      View Details
    • Contact for pricing
      6,745 SF

      Northborough Office Space Available

      Prime Office Space, Build-to-Suit Option
      300 Main St, Northborough, MA 01532
      View Details
    • Contact for pricing
      27,533 SF

      Northborough Warehouse Space Available

      27,533 SF warehouse with loading docks and ample parking.
      360 Cedar Hill Rd, 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
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    168 Main St
    Northborough, MA 01532
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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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