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

    196 East Main St Milford, MA 01757

    • Industrial properties
    • 25.38 lot acres
    For Lease
    View listing
    Last Sale
    Nov 21, 2023
    $800,000
    Value Estimations
    $705,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0924641
    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

    • Spotless Cleaners / Dry Cleaner
    • New England Skylights LLC / Architect / Roofing Contractor
    • Edible Arrangements / Gift Basket Store / Grocery Store
    • Mandarin Milford / Chinese Restaurant / Asian Restaurant
    • Chim Thai Cafe / Asian Restaurant / Restaurant

    Property Details for 196 East Main St

    Lot size
    25.38 lot acres
    Zone code
    IB
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    MILF M:32 B:098 L:17C
    APU
    MILFM32B098L17C

    Description

    This exceptional 4-acre commercial land parcel in Milford, Massachusetts, presents a unique investment opportunity. Located at 196 E Main St, zip code 01757, the property boasts 154 parking spaces and is ideally situated behind the Quarry Square Retail Center. Its strategic location offers excellent visibility and accessibility, with proximity to an advanced manufacturing/industrial building and a retail center. The surrounding area is characterized by a variety of warehouse and industrial uses, creating a synergistic environment for potential development. The site's zoning allows for a range of commercial uses, making it suitable for various business ventures. A contractor's yard or storage facility would be a perfect fit, but the property's versatility allows for exploration of other industrial and commercial opportunities. The single-tenant land parcel offers significant potential for growth and return on investment. The property is in Worcester County and is ready for development. This is a rare opportunity to acquire a substantial commercial land parcel in a thriving Massachusetts location. The ample parking provides significant added value for any future development. The site's location offers easy access to major transportation routes, further enhancing its appeal to potential businesses. This property is ready for immediate development and offers a compelling opportunity for investors seeking a high-return investment in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $705,000
      ML approach
      $1,130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.5005
    Latitude
    42.1531
    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
    2020
    $473,472
    $9,500,300
    $8,222,700
    $17,723,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      View Details
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      Mcgill Ln

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    • Value Estimation
      $330,000
      13,794 SF

      221 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 13,794 SF
      221 Main St, Milford, MA 01757-2825
      View Details
    • Value Estimation
      $295,000
      1.17 Acres

      Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1.17 Acres
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      View Details
    • Value Estimation
      $895,000
      44,060 SF

      100 Medway Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 44,060 SF
      100 Medway Rd, Milford, MA 01757-2923
      View Details
    • Value Estimation
      $595,000
      15.82 Acres

      179 Fortune Blvd

      INDUSTRIAL (GENERAL) • 15.82 Acres
      179 Fortune Blvd, Milford, MA 01757-1746
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Milford Industrial Parking/Storage Terminal

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      Milford Industrial Warehouse with Office

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      Versatile Commercial Building for Rent

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      View Details
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    196 East 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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