190 Grafton StWorcester, MA 01601

Property Details for 190 Grafton St

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.85 AC

Property size (Sq ft)

25,476 SF

Zone code

BL-1

Property type

Investment properties

Property subtype

Live-work space

APN

WORC M:04 B:025 L:00043

APU

WORCM04B025L00043

Description

This exceptional 1.54-acre commercial property at 190 Grafton Street in Worcester, Massachusetts, offers 67,118 square feet of development potential. Located in a high-traffic area with excellent visibility from I-290 and Route 122, this site benefits from its proximity to the Canal District and downtown Worcester. Zoned Business Limited 1 (BL-1), it allows for diverse commercial uses including retail, car washes, medical facilities, and low-rise multi-family housing. The property is part of a five-lot assemblage on a signalized city block directly abutting an I-290 off-ramp, ensuring exceptional access and exposure. Daily traffic counts average 20,693 vehicles (2003 data). Its location within the Commercial Corridor Overlay District provides additional development advantages. This prime location presents an ideal redevelopment opportunity for businesses or developers seeking a strategic site with significant visibility and accessibility. The property's size and zoning make it a highly attractive investment in a thriving Worcester neighborhood. This is a rare opportunity to acquire a substantial parcel in a densely populated area with strong traffic flow and convenient access to major transportation arteries.

• CAP approach

  CAP return

  Valuation

  6%

  $4,211,944

  6.5%

  $3,887,948

  7%

  $3,610,238

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,328,694

  Geo Method

  $3,328,694

• Alternative Use

  Use

  Valuation

  Residential

  $4,821,056

  Hospitality

  $4,416,061

  Educational

  $3,674,111

  Medical

  $3,800,469

  Retail

  $5,715,284

Location Insight

City

Worcester

County

Worcester

State

Massachusetts

Latitude

42.2569

Longitude

-71.7914

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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