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

    29 Main St Millbury, MA 01527-2005

    • Assisted living facilities
    • 34,635 SF
    • 1.60 lot acres
    OFF-MARKET
    Last Sale
    Jun 12, 2023
    $7,700,000
    Value Estimations
    $7,225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0203873
    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

    • The Counseling Center at Millbury / Addiction Treatment Center / Alcoholism Treatment Program
    • AffinityOne Millbury / Addiction Treatment Center / Alcoholism Treatment Program
    • Evolve Recovery Center: Drug and Alcohol Rehab Millbury / Alcoholism Treatment Program / Addiction Treatment Center
    • Sunrise Detox Millbury / Addiction Treatment Center / Alcoholism Treatment Program
    • Sunrise Health inc. / Health Insurance Agency / Corporate Office

    Property Details for 29 Main St

    Year built
    1800
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.60 lot acres
    Property size
    34,635 SF
    Zone code
    RO
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    MILB M:053 B:0000094 L:
    APU
    MILBM053B0000094L

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,765,000
      ML approach
      $6,740,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Millbury
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7618
    Latitude
    42.1932
    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
    $36,348
    $368,000
    $2,379,400
    $2,747,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,330,000
      66,783 SF

      312 Millbury Ave

      HOMES (RETIRED, NURSING) • 66,783 SF
      312 Millbury Ave, Millbury, MA 01527-3622
      View Details
    • Value Estimation
      $560,000
      3,312 SF

      38 Maple St

      HOMES (RETIRED, NURSING) • 3,312 SF
      38 Maple St, Millbury, MA 01527-3136
      View Details
    • Value Estimation by Request
      2.76 Acres

      95-97 Worcester Providence Tpke

      COMMERCIAL (GENERAL) • 2.76 Acres
      95-97 Worcester Providence Tpke, Millbury, MA 01527
      View Details
    • Value Estimation by Request
      736 SF

      146 Main St

      SHOW ROOM, WAREHOUSE • 736 SF
      146 Main St, Millbury, MA 01527-2026
      View Details
    • Value Estimation by Request
      914 SF

      Wales St

      SHOW ROOM, WAREHOUSE • 914 SF
      Wales St, Millbury, MA 01527
      View Details
    • Value Estimation by Request
      660 SF

      118 Elm St Sta, Unit A

      COMMERCIAL CONDOMINUIM • 660 SF
      118 Elm St Sta, Millbury, MA 01527-2600
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      62,244 SF

      Millbury Mixed-Use Redevelopment

      180 Units, 62,244 SF, Prime Location
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      Updated 8-bedroom, 4-bath multifamily property in downtown location.
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      Oversized Two-Family Home Millbury

      Two-family home with in-law suite, close to downtown.
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    • $659,888

      Well-Maintained Duplex with Rental Income

      Duplex suitable for rental income or multi-generational living.
      123 Riverlin St, Millbury, MA 01527
      View Details
    • $249,900
      20.73 Acres

      Millbury Land Development Opportunity

      20+ acres of developable land in Millbury, Massachusetts.
      Auburn Rd, Millbury, MA 01527
      View Details
    • $300,000

      Millbury Restaurant Opportunity For Sale

      Turnkey restaurant with seating for over 100 and ample parking.
      45 River St, Millbury, MA 01527
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,440 SF

      Medical/Retail Space in Downtown Millbury

      4,440 SF medical/retail space in Millbury's downtown district.
      108 Elm St, Millbury, MA 01527
      View Details
    • Contact for pricing
      120,000 SF

      Millbury Warehouse Space Available

      120,000 square foot warehouse space for lease in Millbury.
      5 Latti Farm Rd, Millbury, MA 01527
      View Details
    • $20 SF/Yr
      1,890 SF

      Turn-Key Retail Space Available

      Retail space in Millbury, MA, ideal for food-related businesses.
      97 Elm St, Millbury, MA 01527
      View Details
    • $17 SF/Yr
      3,000 SF

      Restaurant Opportunity in Millbury

      3000 sq ft restaurant space with turnkey equipment available.
      56 Canal St, Millbury, MA 01527
      View Details
    • $9 SF/Yr
      258,100 SF

      Howe Avenue Industrial Space

      Millbury, MA warehouse space available
      50 Howe Ave, Millbury, MA 01527
      View Details
    • Contact for pricing
      84,000 SF

      Millbury Industrial Space For Lease

      Modern Manufacturing/Warehouse, 84,000 SF
      1537 Grafton Rd, Millbury, MA 01527
      View Details
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    29 Main St
    Millbury, MA 01527-2005
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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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