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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    71 Main St Hopkinton, MA 01748-1619

    • Retail space
    • 1,830 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Jun 25, 2024
    $610,000
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    4.3%
    Retail space
    Location Intelligence
    Property ID
    US38-0648518
    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.

    Current Use by Public Records

    • Main St Cleaners & Taylor / Dry Cleaner

    Property Details for 71 Main St

    Year built
    1953
    Construction
    FRAME
    Lot size
    0.28 lot acres
    Property size
    1,830 SF
    Zone code
    BR
    Property type
    Retail space
    APN
    HOPK M:0R23 B:0080 L:0
    APU
    HOPKM0R23B0080L0

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $610,000
      ML approach
      $610,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $440,000
      6.5%
      $405,000
      7%
      $375,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $603,000
      Market price range: $256k - $762k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $495,000
      Current use
      AUTO REPAIR, GARAGE
      $515,000
      Change: +4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $505,000
      Change: +3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $475,000
      Change: -4% Conversion: Easy
      OFFICE BUILDING
      $400,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hopkinton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.5397
    Latitude
    42.2182
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH 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
    $6,858
    $244,700
    $225,000
    $469,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $615,000
      19,683 SF

      61 Main St

      RETAIL STORES (PERSONAL SERVICES) • 19,683 SF
      61 Main St, Hopkinton, MA 01748-1123
      View Details
    • Value Estimation
      $335,000
      1,836 SF

      3 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 1,836 SF
      3 Cedar St, Hopkinton, MA 01748-1221
      View Details
    • Value Estimation
      $295,000
      4,410 SF

      97 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,410 SF
      97 Main St, Hopkinton, MA 01748-1129
      View Details
    • Value Estimation
      $320,000
      2,818 SF

      20-24 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,818 SF
      20-24 Main St, Hopkinton, MA 01748
      View Details
    • Value Estimation
      $680,000
      2,805 SF

      63 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,805 SF
      63 Main St, Hopkinton, MA 01748-1123
      View Details
    • Value Estimation
      $265,000
      1,298 SF

      32 Lumber St

      RETAIL STORES (PERSONAL SERVICES) • 1,298 SF
      32 Lumber St, Hopkinton, MA 01748-2304
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      75,300 SF

      Downtown Hopkinton Mixed-Use Development

      New mixed-use development with retail and residential units.
      52 Main St, Hopkinton, MA 01748
      View Details
    • Contact for pricing
      2 SF

      Hopkinton Corner Lot Opportunity

      2.32 acre corner lot near Route 495.
      290 West Main St, Hopkinton, MA 01748
      View Details
    • Contact for pricing

      High-Visibility Corner Lot

      Agricultural zoned land with high traffic and easy access.
      52 School St, Hopkinton, MA 01748
      View Details
    • Contact for pricing
      3.69 Acres

      Hopkinton Commercial Land Opportunity

      3.69 Acres, Prime Location, $16M
      100-106 South St, Hopkinton, MA 01748
      View Details
    • $929,000
      1.80 Acres

      Hopkinton Estate Lot Opportunity

      1.8-acre buildable lot in Hopkinton, Massachusetts, near state park.
      75 Wilson St, Hopkinton, MA 01748
      View Details
    • Contact for pricing
      66,024 SF

      Hopkinton Flex Space Opportunity

      Flex space available near I-495 and Mass Pike.
      45 South St, Hopkinton, MA 01748
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      6,720 SF

      Hopkinton Office Space for Lease

      Versatile Office Suites, Prime Location
      22 South St, Hopkinton, MA 01748
      View Details
    • $16 SF/Yr

      Hopkinton Specialty Property For Rent

      Specialty property available for rent in Hopkinton, Massachusetts.
      100-106 South St, Hopkinton, MA 01748
      View Details
    • Contact for pricing
      33,040 SF

      Hopkinton Warehouse with IOS Potential

      Modern warehouse in Hopkinton, MA with highway access and IOS.
      75 South St, Hopkinton, MA 01748
      View Details
    • Contact for pricing
      66,024 SF

      Hopkinton Flex Space Available

      First floor flex space with 16-foot clear height.
      25 South St, Hopkinton, MA 01748
      View Details
    • Contact for pricing
      11,031 SF

      Hopkinton Flex/Manufacturing Space For Rent

      Flex/manufacturing space in Hopkinton Innovation Park, easy highway access.
      107-109 South St, Hopkinton, MA 01748
      View Details
    • $27 SF/Yr
      55,000 SF

      Class A Office Building

      Class A office and lab space available in Hopkinton.
      77 Main St, Hopkinton, MA 01748
      View Details
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    71 Main St
    Hopkinton, MA 01748-1619
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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.

    More about this property
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