1002 Southbridge StWorcester, MA 01610

Property Details for 1002 Southbridge St

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.41 AC

Property size (Sq ft)

4,612 SF

Zone code

MG-2

Property type

Auto shops

APN

WORC M:26 B:018 L:01+02

APU

WORCM26B018L0102

Description

This exceptional 4,769-square-foot industrial property at 1002 Southbridge Street in Worcester, Massachusetts, presents a unique owner-user opportunity. Located in Worcester County, zip code 01610, this Class B building boasts a versatile layout suitable for various industrial and service-based businesses. Built in 1940, the property features one loading dock and a drive-in door, enhancing operational efficiency. The existing configuration is well-suited for automotive repair or similar services, aligning perfectly with the MG-2 zoning designation. The property's 4,769 square feet provide ample space for operations, storage, and office areas. Its strategic location offers convenient access to the Worcester Commuter Rail, approximately 2.6 miles away, improving employee commutes and logistical ease. This is an excellent chance to acquire a well-located, functional industrial space in a thriving Massachusetts market. The property is classified as Office, Industrial, with subtypes including Executive Office, Warehouse, and Manufacturing, offering flexibility for a range of business needs. The building's solid construction and functional design make it an attractive investment for businesses seeking a practical and efficient workspace. This owner-user opportunity allows for complete control and customization, maximizing return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,120,877

  6.5%

  $1,034,656

  7%

  $960,752

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,518,562

  Geo Method

  $1,518,562

• Alternative Use

  Use

  Valuation

  Residential

  $872,771

  Hospitality

  $799,453

  Educational

  $665,136

  Medical

  $688,011

  Retail

  $1,034,656

Location Insight

City

Worcester

County

Worcester

State

Massachusetts

Latitude

42.2328

Longitude

-71.8182

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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