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    35 Parkwood Dr Hopkinton, MA 01748
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    Property profile & analytics

    35 Parkwood Dr Hopkinton, MA 01748

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    • Office buildings
    • 162,890 SF
    • 15.47 lot acres
    For Lease
    $16,550,000
    View Listing →
    Hopkinton Corporate Center Office/Lab Space For Lease
    $16,550,000
    159,795 SF

    Hopkinton Corporate Center Office/Lab Space

    Class A office/lab/R&D space available in Hopkinton Corporate Center.

    35 Parkwood Drive, Hopkinton, MA 1748
    View Listing
    Property ID
    US38-1927938
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • BILLSHARK / Financial Advisor
    • RKD Group / Marketing & Advertising / Advertising Agency
    • Veruna Inc. / (Bike/Boat/Book/etc) Store / Corporate Office
    • PrismHR / (Bike/Boat/Book/etc) Store / Corporate Office
    • TriPlus Services, Inc. / Business Administration Service

    Property Details for 35 Parkwood Dr

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    15.47 lot acres
    Property size
    162,890 SF
    Property type
    Office buildings
    APN
    HOPK M:0R17 B:0013 L:4
    APU
    HOPKM0R17B0013L4

    Description

    This exceptional Hopkinton, Massachusetts office space, located at 35 Parkwood Drive, Suite 1st Floor, offers a diverse range of options for businesses of all sizes. Situated in Middlesex County, this property provides a versatile workspace solution catering to various needs. The space offers traditional office suites, executive offices, coworking areas, and even medical or creative office configurations. Tenancy is multiple, allowing for flexibility in lease terms and space requirements. Businesses can choose from fully furnished and equipped private offices, scalable to accommodate teams of any size, from a single person to over 100. Alternatively, a collaborative coworking environment is available, with options for dedicated desks or hot-desking. Meeting rooms are also available, ranging from informal chat spaces to larger venues suitable for presentations, training sessions, or conferences. For businesses seeking a professional image without the commitment of a full office, virtual office options are provided, including mail handling and virtual assistant services. Flexible working plans are also available, offering access to a global network of workspaces. The property's specific square footage is not currently available. This location provides a prime opportunity to establish a thriving business in a dynamic and convenient setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,853,000
      Market price range: $19.9M - $57.3M
      AI Estimate
      $15,223,000
      Market price range: $10.8M - $45.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hopkinton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.5473
    Latitude
    42.2245
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH 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
    $240,910
    $1,456,800
    $15,043,900
    $16,500,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
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    • Value Estimation by Request
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    • Value Estimation
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      30 Lumber St

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      30 Lumber St, Hopkinton, MA 01748-2304
      View Details
    • Value Estimation
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      61,088 SF

      63-65 Ss St

      OFFICE BUILDING • 61,088 SF
      63-65 Ss St, Hopkinton, MA 01748
      View Details

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    View Listing
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    Hopkinton, MA 01748
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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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