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

    287 Turnpike Rd Westborough, MA 01581

    • Office buildings
    • 47,080 SF
    • 15.82 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Last Sale
    Nov 26, 2024
    $6,400,000
    Value Estimations
    $6,400,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1792934
    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

    • Office buildings

    Property Details for 287 Turnpike Rd

    Year built
    2001
    Construction
    STEEL FRAME
    Lot size
    15.82 lot acres
    Property size
    47,080 SF
    Zone code
    BA
    Property type
    Office buildings
    APN
    WBOR M:0026 B:00061A L:0
    APU
    WBORM0026B00061AL0

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,400,000
      ML approach
      $6,400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,135,000
      Market price range: $3.49M - $9.92M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,400,000
      Current use
      RESTAURANT
      $8,875,000
      Change: +39% Conversion: Moderate
      RETAIL STORES
      $7,385,000
      Change: +15% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $7,225,000
      Change: +13% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $5,940,000
      Change: -7% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $5,650,000
      Change: -12% Conversion: Easy
      COMMERCIAL (GENERAL)
      $5,180,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Westborough
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.6478
    Latitude
    42.2847
    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
    $52,976
    $1,638,600
    $1,589,700
    $3,228,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,700,000
      11,536 SF

      82 Flanders Rd

      OFFICE BUILDING • 11,536 SF
      82 Flanders Rd, Westborough, MA 01581-1069
      View Details
    • Value Estimation
      $715,000
      3,944 SF

      4 Lyman St

      OFFICE BUILDING • 3,944 SF
      4 Lyman St, Westborough, MA 01581-1419
      View Details
    • Value Estimation
      $765,000
      4,240 SF

      3 Oak St

      OFFICE BUILDING • 4,240 SF
      3 Oak St, Westborough, MA 01581-2648
      View Details
    • Value Estimation
      $3,535,000
      74,992 SF

      2200 Park Dr

      OFFICE BUILDING • 74,992 SF
      2200 Park Dr, Westborough, MA 01581-3961
      View Details
    • Value Estimation
      $20,125,000
      71,698 SF

      114 Tpke Rd

      OFFICE BUILDING • 71,698 SF
      114 Tpke Rd, Westborough, MA 01581-2861
      View Details
    • Value Estimation
      $1,785,000
      12,152 SF

      95th Tpke Rd

      OFFICE BUILDING • 12,152 SF
      95th Tpke Rd, Westborough, MA 01581-2878
      View Details

    Similar Nearby for Sale

    • $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
    • 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
    • $765,000
      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
    • $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
      10,773 SF

      Westborough Spa and Fitness Property

      Two-building property with spa, fitness, and cafe spaces.
      201 Turnpike Rd, Westborough, MA 01581
      View Details
    • $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

    Similar Nearby for Lease

    • Contact for pricing

      Westborough Office Building For Rent

      Three-story, 79,754-square foot office building in Westborough, MA.
      1400 Computer Dr, Westborough, MA 01581
      View Details
    • Contact for pricing
      6,360 SF

      Westborough Office Building For Lease

      Two-story office building with modern finishes and deeded parking.
      11 W Main St, Westborough, MA 01581
      View Details
    • Contact for pricing
      11,089 SF

      Premier Westborough Office Park Portfolio

      Eight-building office portfolio in a 153-acre master-planned park.
      1700 W Park Dr, Westborough, MA 01581
      View Details
    • $20 SF/Yr
      47,080 SF

      Westborough Office Space For Lease

      6,280 SF office space in three-story building for lease.
      287 Turnpike Rd, Westborough, MA 01581
      View Details
    • Contact for pricing
      6,700 SF

      Renovated Office Space with Amenities

      Four-story office building with modern upgrades and convenient location.
      200 Friberg Pkwy, Westborough, MA 01581
      View Details
    • Contact for pricing
      4,474 SF

      Premier Westborough Office Space Available

      High-end office space in a master-planned suburban office park.
      1800 W Park Dr, Westborough, MA 01581
      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.
    287 Turnpike Rd
    Westborough, MA 01581
    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.