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    Property profile & analytics
    OFF-MARKET Estimated value $580,000
    Investment properties

    506 Main St, Shrewsbury, MA 01545-2253

    3,016 SF 1.38 ac lot Built 1776
    Individually Owned 1-yr Hold ~ Est. High Equity
    Property ID
    US38-0658459
    Property summary
    AI-generated overview

    This exceptional Shrewsbury, MA property, located at 506 Main Street, presents a unique investment opportunity. The 3,016 square foot building sits on a generous 1.38-acre lot in the desirable Town Center District. Previously occupied by a well-regarded orthodontist practice, this versatile space offers significant potential for a variety of uses. Its prime location makes it ideal for a range of businesses, including professional offices, medical practices, or senior living facilities. The ample land provides flexibility for future expansion or redevelopment projects, catering to diverse mixed-use development concepts. The property's strategic positioning within the Town Center District ensures high visibility and accessibility, attracting a substantial customer base. This presents a rare chance to acquire a substantial property in a thriving area, offering both immediate occupancy and long-term development potential. The asking price is $1,200,000. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. The building's history as a successful medical practice speaks to its suitability for similar ventures, while its size and location make it adaptable to a wide array of commercial uses. The 1.38-acre lot provides significant room for expansion or redevelopment, making this a truly versatile and valuable asset.

    Property profile
    Verified
    Property type Investment properties
    Use group OFFICE/RESIDENTIAL (MIXED USE)
    Year built 1776
    Construction FRAME
    Total area 3,016 SF
    Lot 1.38 ac (60,113 SF)
    Zoning code LB
    APN SHRE M:21 B:169000
    UPID US38-0658459
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $605k
    CAP Approach CAP
    $420k
    Comparable Approach Comparable
    $405k
    Blend (final) Blend
    $580k
    Owner & transaction history
    Chabad Of The Medical Are · 1 yrs held
    Chabad Of The Medical Are
    since 2025
    Last sale
    $720,000
    4 recorded transactions
    2025
    $720,000
    2025
    $720,000
    2002
    $345,000
    1988
    $50,000
    Zoning & alternative use
    LB · Shrewsbury, MA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Retail stores $475,000 +42.6%
    Auto repair, garage $465,000 +39.4%
    Office building $410,000 +23.6%
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