66 Southgate StWorcester, MA 01603

Property Details for 66 Southgate St

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.13 AC

Property size (Sq ft)

3,040 SF

Zone code

RG-5

Property type

Office buildings

APN

WORC M:07 B:025 L:00029

APU

WORCM07B025L00029

Description

This exceptional 3,040-square-foot office and flex space at 66 Southgate Street in Worcester, Massachusetts, presents a unique opportunity for a single tenant. Ideally situated for convenient access to downtown Worcester, Interstate 290, and Route 146, this property offers unparalleled convenience. The building, situated on a 0.13-acre lot, boasts a versatile layout previously used as a research and development facility. The space includes well-appointed office areas, a substantial amount of storage, and a significant advantage: one convenient drive-in bay with an overhead door. This feature is particularly beneficial for businesses requiring easy loading and unloading of materials or equipment. The property is zoned RG-5 by the City of Worcester, providing flexibility for a variety of uses. The entire 3,040 square feet is currently vacant and ready for immediate occupancy. This is an excellent opportunity to secure a well-located, functional space in a thriving area. The property's previous use as an environmental research and development facility suggests the presence of suitable infrastructure for similar businesses, though this should be verified independently. The combination of office and flex space makes this property suitable for a wide range of businesses seeking a convenient and adaptable workspace.

• CAP approach

  CAP return

  Valuation

  6%

  $502,603

  6.5%

  $463,941

  7%

  $430,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $397,206

  Geo Method

  $397,206

• Alternative Use

  Use

  Valuation

  Residential

  $575,287

  Hospitality

  $526,960

  Educational

  $438,424

  Medical

  $453,502

  Retail

  $681,993

Location Insight

City

Worcester

County

Worcester

State

Massachusetts

Latitude

42.2473

Longitude

-71.8155

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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