Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    22-24 Farview Ave Shrewsbury, MA 01545

    • Specialty properties
    • 2,652 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    Jul 10, 2023
    $680,000
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1296440
    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

    • Specialty properties

    Property Details for 22-24 Farview Ave

    Year built
    1952
    Lot size
    0.42 lot acres
    Property size
    2,652 SF
    Zone code
    RB2
    Property type
    Specialty properties
    APN
    SHRE M:28 B:240000
    APU
    SHREM28B240000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $595,000
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $420,000
      Market price range: $177k - $421k
      AI Estimate
      $366,000
      Market price range: $122k - $366k

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

    Location Insight

    • Map
    • Local Demand
    City
    Shrewsbury
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7031
    Latitude
    42.2896
    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
    2016
    $4,090
    $248,400
    $383,300
    $631,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $725,000
      37,094 SF

      474 Boston Tpke

      CHARITABLE ORGANIZATION • 37,094 SF
      474 Boston Tpke, Shrewsbury, MA 01545-3948
      View Details
    • Value Estimation
      $285,000
      1,960 SF

      46 Boylston St

      CHARITABLE ORGANIZATION • 1,960 SF
      46 Boylston St, Shrewsbury, MA 01545-2327
      View Details
    • Value Estimation
      $335,000
      3,645 SF

      253 Main St

      CHARITABLE ORGANIZATION • 3,645 SF
      253 Main St, Shrewsbury, MA 01545-2201
      View Details
    • Value Estimation
      $890,000
      54,564 SF

      59 Ss St

      CHARITABLE ORGANIZATION • 54,564 SF
      59 Ss St, Shrewsbury, MA 01545-3025
      View Details
    • Value Estimation
      $300,000
      4,380 SF

      648-650 Main St

      FUNERAL HOME • 4,380 SF
      648-650 Main St, Shrewsbury, MA 01545
      View Details
    • Value Estimation
      $345,000
      3,675 SF

      48 Brk St

      CHARITABLE ORGANIZATION • 3,675 SF
      48 Brk St, Shrewsbury, MA 01545-4803
      View Details

    Similar Nearby for Sale

    • $525,000
      1,520 SF

      Shrewsbury Multifamily Property For Sale

      Multifamily property in Shrewsbury, MA, with 1520 square feet.
      45-45A Kinglet Dr, Shrewsbury, MA 01545
      View Details
    • $12,500,000

      Shrewsbury Route 9 Development Opportunity

      25 acres of land with commercial and residential zoning.
      701 Boston Tpke, Shrewsbury, MA 01545
      View Details
    • $6,950,000
      36,900 SF

      Shrewsbury Flex Space - Route 9

      Class A industrial building, 36,900 SF, excellent location.
      910 Boston Tpke, Shrewsbury, MA 01545
      View Details
    • $999,999

      Shrewsbury Multi-Family Opportunity

      Rare multi-family property with bonus unit in desirable Shrewsbury neighborhood.
      6 Selina St, Shrewsbury, MA 01545
      View Details
    • $729,900
      2,421 SF

      Shrewsbury Waterfront Office Building

      Lakefront Office, 8 Units, Great Location
      105 Hartford Tpke, Shrewsbury, MA 01545
      View Details
    • $825,000

      Versatile Two-Family Property with Barn

      Two-family property with a heated barn in town center.
      19 Grafton St, Shrewsbury, MA 01545
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      80,000 SF

      Retail Space on Boston Turnpike

      Retail space available in Shrewsbury with high traffic count.
      539 Boston Tpke, Shrewsbury, MA 01545
      View Details
    • Contact for pricing
      16,851 SF

      Worcester County Restaurant Space

      Prime Retail Location, Redevelopment Potential.
      7 Boston Tpke, Shrewsbury, MA 01545
      View Details
    • $28 SF/Yr
      6,400 SF

      Shrewsbury Medical Office Space

      Modern, single-tenant office suite.
      274 Walnut St, Shrewsbury, MA 01545
      View Details
    • $15 SF/Yr

      Prime Commercial Land For Rent

      Commercial land on Route 9, ideal for retail/office.
      630 Boston Tpke, Shrewsbury, MA 01545
      View Details
    • $3,200 /Mo
      36,590 SF

      Commercial Space in Shrewsbury, MA

      New commercial space for lease in Shrewsbury, Massachusetts.
      34-36 Harrington Ave, Shrewsbury, MA 01545
      View Details
    • Contact for pricing
      16,851 SF

      Shrewsbury Restaurant Space Available

      Prime location, 16,851 sq ft, fully vacant.
      7 Boston Tpke, Shrewsbury, MA 01545
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    22-24 Farview Ave
    Shrewsbury, MA 01545
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.