1149 Grafton StWorcester, MA 01604

Property Details for 1149 Grafton St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.17 AC

Property size (Sq ft)

1,060 SF

Zone code

BL-1

Property type

Retail space

APN

WORC M:41 B:018 L:09+10

APU

WORCM41B018L0910

Description

This 1,100 square foot Class C executive office building, located at 1149 Grafton Street in Worcester, Massachusetts, is available for sale at $395,000. Built in 1900, the property is currently vacant and offers a flexible lease structure (NNN). The building is a standalone structure with a variety of potential uses, including retail, physical therapy, massage therapy, yoga, or general office space. A significant advantage is the inclusion of a roughly 5,000 square foot parking lot, providing ample parking for employees and clients. Its convenient location offers easy access to major roadways such as Route 20 and I-290, as well as the Worcester city center. The property's zoning allows for diverse commercial uses, making it an attractive investment opportunity for a range of businesses. The building's age presents a chance for renovation and customization to suit a buyer's specific needs. This is a rare opportunity to acquire a freestanding commercial property in a desirable Worcester location with ample parking. The property is zoned for a variety of commercial uses, providing flexibility for potential buyers. The asking price reflects the property's potential and prime location within the Worcester market.

• CAP approach

  CAP return

  Valuation

  6%

  $257,617

  6.5%

  $237,800

  7%

  $220,815

• Comparable approach

  Method

  Valuation

  Relative Method

  $349,019

  Geo Method

  $349,019

• Alternative Use

  Use

  Valuation

  Residential

  $200,593

  Hospitality

  $183,743

  Educational

  $152,872

  Medical

  $158,129

  Retail

  $237,800

Location Insight

City

Worcester

County

Worcester

State

Massachusetts

Latitude

42.2407

Longitude

-71.7532

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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