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    Property profile & analytics

    32 Hastings St Mendon, MA 01756

    • Retail properties
    • 24,480 SF
    • 5.97 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1248600
    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

    • Country Hills Plaza / Shopping Center & Mall
    • The Bark Ark / Pet Grooming Service
    • Dean Bank / Bank / Loan Service
    • Muffin House Cafe / Cafe & Coffee Shop
    • Mendon Wine & Spirits / Specialty Food Shop / Wine and Liquor Store

    Property Details for 32 Hastings St

    Year built
    1986
    Construction
    FRAME
    Lot size
    5.97 lot acres
    Property size
    24,480 SF
    Zone code
    C/I
    Property type
    Retail properties
    APN
    MEND M:11 B:142 P:032
    APU
    MENDM11B142P032

    Description

    This exceptional 1,000 square foot office space is located in the highly desirable Hood Plaza in Mendon, Massachusetts. Situated at 32 Hastings St, 01756, this single-tenant unit is part of a larger 24,480 square foot Class A building, renovated in 2023. The property boasts over 15 feet of glass storefront, ideal for showcasing your business. The General Business (GB) zoning allows for a variety of uses, including retail, medical, and professional office space. Benefit from ample parking with 100+ spaces available. Hood Plaza offers a vibrant mix of established businesses, including The Muffin House, Dean Bank, Century 21, Katydid Flowers, The Bark Ark, Mendon Nutrition, Mendon Wine & Spirits, Deluxe House of Pizza, Wink Salon & Spa, and Subway, creating a strong and supportive business community. The building features one story and is situated on a 5.9-acre lot, conveniently located near Millville Road. This is a fantastic opportunity to establish your business in a prime Mendon location. The property is in the Worcester County submarket, specifically the Mendon cluster. Built in 1986, this space offers a blend of classic charm and modern updates. While there are no elevators, the single-story layout ensures easy accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,545,000
      Market price range: $1.72M - $6.22M
      AI Estimate
      $1,653,000
      Market price range: $1.17M - $3.88M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,840,000
      Current use
      AUTO REPAIR, GARAGE
      $3,755,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $3,330,000
      Change: -13% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,090,000
      Change: -20% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Mendon
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.5586
    Latitude
    42.103
    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
    $25,243
    $444,100
    $1,399,800
    $1,843,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,155,000
      34,152 SF

      20 Uxbridge Rd

      AUTO REPAIR, GARAGE • 34,152 SF
      20 Uxbridge Rd, Mendon, MA 01756-1002
      View Details
    • Value Estimation by Request
      1,152 SF

      3 Morrison Dr

      SHOW ROOM, WAREHOUSE • 1,152 SF
      3 Morrison Dr, Mendon, MA 01756
      View Details
    • Value Estimation by Request
      6,000 SF

      51 Providence St

      AUTO REPAIR, GARAGE • 6,000 SF
      51 Providence St, Mendon, MA 01756
      View Details
    • Value Estimation by Request
      3,360 SF

      154 Uxbridge Rd

      VEHICLE SALES, RENTALS • 3,360 SF
      154 Uxbridge Rd, Mendon, MA 01756-1221
      View Details
    • Value Estimation by Request
      7,260 SF

      7 Morrison Dr

      GAS STATION • 7,260 SF
      7 Morrison Dr, Mendon, MA 01756-1383
      View Details
    • Value Estimation by Request
      4,900 SF

      49 Milford St

      RESTAURANT • 4,900 SF
      49 Milford St, Mendon, MA 01756-1030
      View Details

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    • Contact for pricing

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      6.5-acre commercial land with high visibility and accessibility.
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    Similar Nearby for Lease

    • $21 SF/Yr
      24,480 SF

      Hood Plaza: 1,000 SF Office Suite

      Mendon, MA Creative Office Space. Great location!
      32 Hastings St, Mendon, MA 01756
      View Details
    • Contact for pricing

      Retail/Professional Office Building For Lease

      2,500 SF free-standing building suitable for retail or professional office.
      1 Uxbridge Rd, Mendon, MA 01756
      View Details
    • Contact for pricing
      55,340 SF

      High-Visibility Mendon Development Site

      Prime Commercial Land, 55,340 SF, Route 140
      143 Hartford Ave, Mendon, MA 01756
      View Details
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    32 Hastings St
    Mendon, MA 01756
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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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