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    Property profile & analytics

    276 Turnpike Rd Westborough, MA 01581

    • Super regional malls
    • 59,705 SF
    • 7.27 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1187794
    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

    • Super regional malls

    Property Details for 276 Turnpike Rd

    Year built
    1990
    Construction
    STEEL FRAME
    Lot size
    7.27 lot acres
    Property size
    59,705 SF
    Zone code
    BA
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    WBOR M:0026 B:000026 L:0
    APU
    WBORM0026B000026L0

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,897,000
      Market price range: $4.79M - $10.1M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $7,535,000
      Current use
      RETAIL STORES
      $9,370,000
      Change: +24% Conversion: Easy
      AUTO REPAIR, GARAGE
      $9,160,000
      Change: +22% Conversion: Difficult
      OFFICE BUILDING
      $8,120,000
      Change: +8% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $7,165,000
      Change: -5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,570,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Westborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.6443
    Latitude
    42.282
    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
    $100,764
    $2,054,900
    $4,085,500
    $6,140,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,455,000
      20,348 SF

      76 Otis St

      REGIONAL SHOPPING CENTER, MALL • 20,348 SF
      76 Otis St, Westborough, MA 01581-3315
      View Details
    • Value Estimation
      $3,660,000
      29,448 SF

      227-229 Tpke Rd

      REGIONAL SHOPPING CENTER, MALL • 29,448 SF
      227-229 Tpke Rd, Westborough, MA 01581
      View Details
    • Value Estimation
      $620,000
      4,569 SF

      38 Lyman St

      REGIONAL SHOPPING CENTER, MALL • 4,569 SF
      38 Lyman St, Westborough, MA 01581-1419
      View Details
    • Value Estimation
      $1,330,000
      10,630 SF

      45 Main St

      REGIONAL SHOPPING CENTER, MALL • 10,630 SF
      45 Main St, Westborough, MA 01581-1486
      View Details
    • Value Estimation
      $1,570,000
      12,445 SF

      122 Tpke Rd

      REGIONAL SHOPPING CENTER, MALL • 12,445 SF
      122 Tpke Rd, Westborough, MA 01581-2854
      View Details
    • Value Estimation
      $15,875,000
      161,545 SF

      18 Lyman St

      REGIONAL SHOPPING CENTER, MALL • 161,545 SF
      18 Lyman St, Westborough, MA 01581-1459
      View Details

    Similar Nearby for Sale

    • $3,500,000
      16,327 SF

      Westborough Mixed-Use Portfolio

      29 Units, 7.77% Cap Rate, High NOI
      44 South St, Westborough, MA 01581
      View Details
    • $1,850,000

      Commercial Land Available

      Commercial land for sale on Main Street.
      85 E Main St, Westborough, MA 01581
      View Details
    • Contact for pricing
      3,960 SF

      Westborough Office Building For Sale

      3,960 SF office building with 8 parking spaces.
      32-36 Milk St, Westborough, MA 01581
      View Details
    • $6,200,000
      13,330 SF

      Commercial Office Building on 4.5 Acres

      Commercial office building with development potential on 4.5 acres.
      222 Turnpike Rd, Westborough, MA 01581
      View Details
    • New
      $3,500,000
      4,648 SF

      Former Equestrian Property on 24 Acres

      Unique equestrian property with farmhouse and outbuildings on 24 acres.
      64 Arch St, Westborough, MA 01581
      View Details
    • Contact for pricing
      39,000 SF

      Class A Office Building

      Premium office space in Westborough, near major routes.
      116 Flanders Rd, Westborough, MA 01581
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,388 SF

      Westborough Shopping Center Retail Space

      Established shopping center with high traffic and easy access.
      166 Milk St, Westborough, MA 01581
      View Details
    • $1,750 /Mo
      943 SF

      Retail/Office Space For Rent

      943+/- SF retail/office space available for rent.
      3 Union St, Westborough, MA 01581
      View Details
    • $14 SF/Yr
      260,000 SF

      Westborough Retail Space Available

      Prime Retail Space, 5,900 SF Available
      1100 Union St, Westborough, MA 01581
      View Details
    • Contact for pricing
      2,239 SF

      Retail Space in Westborough Rotary

      2,239 SF retail space with great visibility and signage.
      25 W Main St, Westborough, MA 01581
      View Details
    • Contact for pricing
      3,272 SF

      Retail Space on East Main

      Former bank/retail space with drive-through and ample parking.
      21 E Main St, Westborough, MA 01581
      View Details
    • Contact for pricing
      13,284 SF

      Westborough Retail/Industrial Flex Space

      14,000 SF retail/industrial flex space on 2.3 acres.
      233 Turnpike Rd, Westborough, MA 01581
      View Details

    Property Visit Statistics

    • Visits by month
      58.3k
    • Visitors by month
      37.0k
    • Avg Time on site
      16 min
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    Westborough, MA 01581
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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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