Property profile

407 Main St Spencer, MA 01562

FOR LEASE
Office buildings
Property ID
US38-1735292
13,099 SF 1.4 ac lot Built 1992
Individually Owned 18-yr Hold Free & Clear
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Property summary

AI-generated overview

This 6,271 square foot medical office space, located at 407 E. Main Street in Spencer, Massachusetts, presents a unique opportunity. Situated in a Class C building totaling 13,273 square feet, this suite offers a versatile layout previously used for internal medicine. The space includes exam rooms, consultation rooms, check-in counters, and reception areas, ready for immediate occupancy. The building features a convenient parking ratio of 8 spaces per 1,000 square feet, ensuring ample parking for patients and staff. The property is located in Worcester County, MA, with the zip code 01562. This multi-tenant building also houses Spencer Veterinary Hospital in Suite A. The property is categorized as a medical office and offers a single, large suite. This is an excellent opportunity for a medical practice seeking established space with existing infrastructure. The property's location in Spencer offers easy access for patients and employees. The available space is ideal for a variety of medical specialties, given its existing layout and ample parking. The building's overall size is 13,273 square feet. This listing presents a turnkey solution for a medical practice looking to establish or expand its presence in the Spencer, MA area.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1992
Construction FRAME
Total area 13,099 SF
Lot 1.4 ac (60,984 SF)
APN SPEN M:00R35 B:00033 L:00000
UPID US38-1735292

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Pediatrician Medical Clinic
  • Physician
  • Geriatric Care Provider
  • Physician
  • Medical Clinic

Location

407 Main St Spencer, MA 01562
Spencer metro Census 726100 WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$633k
Blend (final) Blend
$295k

Owner & transaction history

since 2008
3 recorded transactions
2008
$91.9M
1997
$47.8M
1993
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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