Property profile

506 Main St Shrewsbury, MA 01545

OFF-MARKET
Investment properties
Property ID
US38-0658459
3,016 SF 1.38 ac lot Built 1776
Individually Owned 1-yr Hold ~ Est. High Equity
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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

Location

506 Main St Shrewsbury, MA 01545-2253
Shrewsbury metro Census 739500 WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$605k
CAP Approach CAP
$420k
Comparable Approach Comparable
$405k
Blend (final) Blend
$615k

Owner & transaction history

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
Top alternative use upside
Retail stores $475,000 +42.6%
Auto repair, garage $465,000 +39.4%
Office building $410,000 +23.6%

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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