32 Worcester RdCharlton, MA 01507

Property Details for 32 Worcester Rd

Year built

1880

Construction

FRAME

Lot size

0.66 AC

Property size (Sq ft)

2,346 SF

Zone code

CB

Property type

Investment properties

Property subtype

Live-work space

APN

CHAR M:027B B:000C L:0000001

APU

CHARM027BB000CL0000001

Description

This exceptional investment opportunity presents a 1.1-acre parcel in Charlton, Massachusetts, zoned for mixed use. The property, located at 32 & 34a Worcester Road, includes two multifamily buildings and offers 25 parking spaces. Situated on the corner of Gillespie Road and Route 20, this prime location boasts high visibility and daily traffic exceeding 26,000 vehicles. Its proximity to a major highway and a new, large Amazon distribution center further enhances its appeal. The property is subject to a ground lease. The current configuration offers multiple potential uses, including drive-through options, making it ideal for a franchise or independent business seeking high traffic exposure. This property presents a unique blend of residential income and significant commercial potential, making it an attractive investment in a rapidly developing area. The existing multifamily buildings provide immediate cash flow, while the zoning allows for a variety of future development possibilities. This is a rare opportunity to acquire a strategically located property with significant upside potential in a thriving market. The property is located a quarter mile from a new $390 million Amazon distribution center and minutes from major roadways.

• CAP approach

  CAP return

  Valuation

  6%

  $387,864

  6.5%

  $358,028

  7%

  $332,455

• Comparable approach

  Method

  Valuation

  Relative Method

  $306,528

  Geo Method

  $306,528

• Alternative Use

  Use

  Valuation

  Residential

  $443,955

  Hospitality

  $406,660

  Educational

  $338,337

  Medical

  $349,973

  Retail

  $526,301

Location Insight

City

Charlton

County

Worcester

State

Massachusetts

Latitude

42.145

Longitude

-71.9881

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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