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Property profile & analytics
FOR LEASE
Office buildings
2 Park Central Dr, Southborough, MA 01772
Entity Owned
26-yr Hold
Free & Clear
Property ID
US38-0596802
For Lease
1 / 2
$6,015,000
2 Park Central Dr, Southborough, MA 01772
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
47,734 SF
Lot
3.83 ac (166,835 SF)
Zoning code
I
APN
SBOR M:024.0 B:0000 L:0004.A
UPID
US38-0596802
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
-
Americas Cosmetic Surgery Centers Medical Clinic Skin Care Clinic
-
HairClub Hair Salon
-
America's Vein Center Physician
-
Keystone Associates Business Service Center Employment Agency
-
Renaissance Alliance Financial Advisor Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.41M
Blend (final)
Blend
$6.02M
Owner & transaction history
371 Turnpike Road LLC · 26 yrs held
371 Turnpike Road LLC
since 2000
6 recorded transactions
Zoning & alternative use
I · Southborough, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.0M
+38.7%
Retail stores
$7.5M
+15.4%
Auto repair, garage
$7.3M
+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
$6,490,000
Current use
RESTAURANT
$9,000,000
Change: +39% · Conversion: Moderate
RETAIL STORES
$7,490,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,325,000
Change: +13% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,025,000
Change: -7% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,725,000
Change: -12% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,255,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$6.02M
Range $5.41M – $6.62M · ±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
$126 / 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
$61,212
Tax year 2024
Assessed value
$4,400,600
Assessed 2024
Previous assessed
$4,400,100
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,121,600
Assessed improvement
$3,279,000
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
3
Units
7
Bathrooms
6
Total area
47,734 SF
Lot
3.83 ac (166,835 SF)
Zoning code
I
APN
SBOR M:024.0 B:0000 L:0004.A
UPID
US38-0596802
Jurisdiction
SOUTHBOROUGH
Zoning & alternative use
I · Southborough, MA
Zoning I · permitted uses
I · 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
$6.5M
RESTAURANT
Est. value
$9.0M
RETAIL STORES
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$7.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.7M
COMMERCIAL (GENERAL)
Est. value
$5.3M
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
1
Units
7
Bathrooms
6
Lot
3.83 ac
Current owner
From public records · entity-resolved
371 Turnpike Road LLC
Entity
Free & Clear · 26 yrs held
Mailing address
259 TPKE RD #100, SOUTHBOROUGH, MA 01772-1706
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2013
—
371 Turnpike Road LLC
—
Deed Of Trust
related
$3,550,000 · Digital FCU
Mar 2, 2010
—
371 Turnpike Road LLC
—
Deed Of Trust
related
$3,750,000 · Digital FCU
Jan 18, 2001
—
371 Turnpike Rd LLC
—
Deed Of Trust
related
$7,300,000 · Secore Financial Corp
Apr 28, 2000
—
371 Turnpike Road LLC
—
Deed Of Trust
related
$4,800,000 · Framingham Cp Bank
Apr 14, 2000
$161,500
371 Turnpike Road LLC
Park Central RT
Grant Deed
—
Nov 10, 1998
$210,000
Ifv RT
Red Roof Inns INC
Grant Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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