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    507 Boston Tpke Shrewsbury, MA 01545-5976
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    Property profile & analytics

    507 Boston Tpke, Shrewsbury, MA 01545-5976

    View on Map
    • Retail space
    • 10,800 SF
    • 1.56 lot acres
    Off-Market
    Property ID
    US38-1004984
    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
    $1,415,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Meineke Car Care Center / Auto Repair Shop
    • Dent'n Scratch / Auto Repair Shop
    • Protection Plus LLC / Car Wash
    • ScrubaDub Car Wash / Car Wash
    • Valvoline Instant Oil Change / Auto Repair Shop

    Property Details for 507 Boston Tpke

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.56 lot acres
    Zone code
    CB
    Property type
    Retail space
    APN
    SHRE M:33 B:308000
    APU
    SHREM33B308000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 24, 1996 — Lake Street RT — Deed Of Trust · related $3.3M · Fleet National Bank
    Jan 19, 1995 — Kris RT — Deed Of Trust · related $433k · Worc Business Devcorp
    Dec 20, 1994 $1,000,000 Kris RT Lake Street RT Grant Deed $525k · Commerce Bank & Trust
    Dec 20, 1994 — Kris RT — Deed Of Trust · related $420k · Commerce Bank & Trust

    Description

    This exceptional retail property, located at 507 Boston Turnpike Road, offers 1,440 to 2,880 square feet of versatile space ideal for automotive-related businesses. The single-story building features three convenient drive-in doors, ensuring easy access for vehicles and equipment. The property includes town sewer and boasts a functional spray booth, perfect for various automotive applications. Electrical service is provided by a robust 3-phase 120/208V, 225-amp system. Adding to its practicality, 1,000 square feet of basement storage is available, providing ample room for inventory or tools. The property's prime location on Route 9, at a well-lit intersection, guarantees high visibility and accessibility for customers. This space is particularly well-suited for businesses such as auto glass repair, detailing services, window tinting, or spray-on bedliner installations. The flexible floor plan and ample amenities make this an attractive opportunity for entrepreneurs seeking a well-equipped and strategically located commercial space. The property is available for immediate occupancy. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,552,000
      Market price range: $760k - $2.75M
      AI Estimate
      $1,185,000
      Market price range: $440k - $2.00M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,695,000
      Current use
      RESTAURANT
      $2,035,000
      Change: +20% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,655,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $1,470,000
      Change: -13% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,365,000
      Change: -20% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Shrewsbury
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7187
    Latitude
    42.2774
    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
    $19,387
    $462,300
    $1,103,700
    $1,566,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,380 SF

      308 Boston Tpke

      RETAIL STORES (PERSONAL SERVICES)
      308 Boston Tpke, Shrewsbury, MA 01545-3845
      View Details
    • Value Estimation
      $705,000
      5,000 SF

      163 Boston Tpke

      RETAIL STORES (PERSONAL SERVICES)
      163 Boston Tpke, Shrewsbury, MA 01545-3604
      View Details
    • Value Estimation
      $775,000
      3,784 SF

      235 Hartford Tpke

      RETAIL STORES (PERSONAL SERVICES)
      235 Hartford Tpke, Shrewsbury, MA 01545-4634
      View Details
    • Value Estimation
      $835,000
      6,840 SF

      370 Boston Tpke

      RETAIL STORES (PERSONAL SERVICES)
      370 Boston Tpke, Shrewsbury, MA 01545-3875
      View Details
    • Value Estimation
      $1,625,000
      9,744 SF

      246 Boston Tpke

      RETAIL STORES (PERSONAL SERVICES)
      246 Boston Tpke, Shrewsbury, MA 01545-5266
      View Details
    • Value Estimation by Request
      1,288 SF

      277 Boston Tpke

      RETAIL STORES (PERSONAL SERVICES)
      277 Boston Tpke, Shrewsbury, MA 01545
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

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      Prime Corner Land Opportunity

      Up to 2 acres available on a high-traffic corner.
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      Flex/Industrial Building For Sale

      37,900 SF Class A flex/industrial building in Shrewsbury, MA.
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    • $999,900
      0.26 Acres

      Shrewsbury Commercial Duo - Prime Location

      Two Turnkey Properties, High Visibility, Lease Potential
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      Prime Development Land on Route 9

      25 acres of mixed-use land with high visibility.
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    Similar Nearby for Lease

    • Contact for pricing
      17,645 SF

      Retail Space in High-Traffic Plaza

      17,645 SF available in Shrewsbury, strong co-tenancy.
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      View Details
    • Contact for pricing
      7,500 SF

      Prime Commercial Space on Route 9

      High-visibility retail/office space on Boston Turnpike Rd, Shrewsbury, MA.
      620 Boston Tpke, Shrewsbury, MA 01545
      View Details
    • Contact for pricing
      720 SF

      Prime Commercial Space on Route 9

      High-visibility commercial spaces ideal for retail or office use.
      624 Boston Tpke, Shrewsbury, MA 01545
      View Details
    • Contact for pricing

      Waterfront Function Hall/Office Space

      Versatile space with lake views, suitable for various commercial uses.
      206 S Quinsigamond Ave, Shrewsbury, MA 01545
      View Details
    • Contact for pricing

      Prime Retail/Office Space Available

      Highly visible space suitable for cafe or office use.
      307 Grafton St, Shrewsbury, MA 01545
      View Details
    • Contact for pricing
      4,682 SF

      Grocery Anchored Shopping Center Space

      Retail space in a prominent, high-traffic shopping center.
      20-50 Boston Tpke, Shrewsbury, MA 01545
      View Details
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    Shrewsbury, MA 01545-5976
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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.

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