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Property profile & analytics
OFF-MARKET
Estimated value
$1,925,000
Retail space
84 Boston Tpke Shrewsbury, MA 01545-3601
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US38-1366306
Property summary
AI-generated overview
This exceptional 3,870-square-foot retail space is ideally situated on the heavily trafficked Route 9 corridor in Shrewsbury, Massachusetts, boasting an impressive 45,000 average daily traffic count. Previously occupied by a Geico Insurance office, this single-tenant property offers ample parking and benefits from strong co-tenancy with established businesses such as Halal Guys, Planet Fitness, Jersey Mike's Subs, and Dunkin'. The property's end-cap location ensures high visibility and accessibility for customers. Located at 84 Boston Turnpike, Shrewsbury, MA 01545, this space presents a fantastic opportunity for a business seeking a prime retail location with significant foot traffic and brand recognition potential. The entire 3,870 square feet is currently vacant and ready for immediate occupancy. The property is situated in Worcester County. This is a commercial property classified as retail. The lot size is 0 acres.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1966
Construction
STEEL FRAME
Total area
8,654 SF
Lot
0.62 ac (27,007 SF)
Zoning code
CB
APN
SHRE M:31 B:243004
UPID
US38-1366306
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
Current use
Occupant on record · Public records
-
European Wax Center Spa & Massage Center Skin Care Clinic
-
The Good Feet Store Shoe Store Orthotics & Prosthetics Service
-
The Halal Guys Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.97M
Comparable Approach
Comparable
$2.20M
Blend (final)
Blend
$1.93M
Owner & transaction history
Ireit Shrewsbury White · 11 yrs held
Ireit Shrewsbury White
since 2015
2 recorded transactions
Zoning & alternative use
CB · Shrewsbury, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+20.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Shrewsbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shrewsbury submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,135,000
6.5%
$1,970,000
7%
$1,830,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,360,000
Current use
RESTAURANT
$1,630,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,330,000
Change: -2% · Conversion: Difficult
OFFICE BUILDING
$1,175,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.93M
Range $1.73M – $2.12M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$222 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$47,304
Tax year 2024
Assessed value
$3,821,000
Assessed 2024
Previous assessed
$3,765,000
+1.5% YoY
Effective rate
1.24%
On assessed value
Assessed land
$1,515,400
Assessed improvement
$2,305,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1966
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
4
Bathrooms
3
Total area
8,654 SF
Lot
0.62 ac (27,007 SF)
Zoning code
CB
APN
SHRE M:31 B:243004
UPID
US38-1366306
Jurisdiction
SHREWSBURY
Zoning & alternative use
CB · Shrewsbury, MA
Zoning CB · permitted uses
CB · Shrewsbury, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shrewsbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.4M
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
4
Bathrooms
3
Lot
0.62 ac
Current owner
From public records · entity-resolved
Ireit Shrewsbury White
Individual
Mailing address
PO BOX 3666, OAK BROOK, IL 60522-3666
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2015
—
Ireit Shrewsbury White
White City East Partne
Quit Claim Deed
related
$49,400,000 · Santander Bank NA
Dec 24, 2010
$18,700,000
White City East Ptnrs LLC
Douglas Realty Co LP
Grant Deed
$40,000,000 · Sovereign Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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