506 Main St Shrewsbury, MA 01545-2253
Property profile & analytics
506 Main St Shrewsbury, MA 01545-2253
- Investment properties
- 3,016 SF
- 1.38 lot acres
Property ID
US38-0658459
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.
Location Intelligence
Current Use by Public Records
- Investment properties
Property Details for 506 Main St
- Year built
- 1776
- Construction
- FRAME
- Lot size
- 1.38 lot acres
- Property size
- 3,016 SF
- Zone code
- LB
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- SHRE M:21 B:169000
- APU
- SHREM21B169000
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $615,000
- ML approach
- $605,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $455,000
- 6.5%
- $420,000
- 7%
- $390,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $405,000
Market price range: $191k - $516k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $475,000
- AUTO REPAIR, GARAGE
- $465,000
- OFFICE BUILDING
- $410,000
- NEIGHBORHOOD: SHOPPING CENTER
- $380,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Shrewsbury
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.7187
- Latitude
- 42.2948
- 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
$6,474
$290,600
$232,300
$522,900
-
$0.00
$0.00
$0.00
