39 Salisbury StWorcester, MA 01609

Property Details for 39 Salisbury St

Year built

1900

Lot size

0.06 AC

Property size (Sq ft)

897 SF

Zone code

BG-6

Property type

Office properties

APN

WORC M:02 B:036 L:00100

APU

WORCM02B036L00100

Description

This exceptional offering presents two executive office condo units totaling 2,571 to 4,400 square feet, situated in a prime Worcester location at 39 Salisbury Street. The property, formerly the Worcester History Museum, benefits from its strategic position at the intersection of Interstates 290, 190, and Route 9, placing it at the gateway to the city's commercial business district and boasting an average daily traffic count exceeding 32,000 vehicles. Built in 1900 and extensively renovated in 1985 (with further improvements five years prior to listing), the building features a Class B designation and sits on a 0.89-acre lot. The units, along with common areas, have undergone significant upgrades, including roof, HVAC systems, and common area finishes. Ample on-site parking is available across two attached surface lots. The BG-6 zoning permits a variety of professional office uses, making these units ideal for businesses such as law firms, accounting practices, insurance agencies, architectural firms, or mortgage brokers. This presents a compelling investment opportunity with high-cap rate potential through market-rate leasing.

• CAP approach

  CAP return

  Valuation

  6%

  $148,301

  6.5%

  $136,893

  7%

  $127,115

• Comparable approach

  Method

  Valuation

  Relative Method

  $117,202

  Geo Method

  $117,202

• Alternative Use

  Use

  Valuation

  Residential

  $169,747

  Hospitality

  $155,488

  Educational

  $129,364

  Medical

  $133,813

  Retail

  $201,233

Location Insight

City

Worcester

County

Worcester

State

Massachusetts

Latitude

42.273

Longitude

-71.8009

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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