Renovated Office Building For
105 Merrick Street, Worcester, MA 01609
3,577 SF renovated office building in Worcester, MA.
Type:Office
Property size:
3,577 SFPrice / SF:
$194/SF- Added:
- Mar 6, 2026
- Days on Market:
- 72
- Last Refresh:
- Apr 5 at 10:56 pm
Property Features for 105 Merrick Street
General Information
- Standard status
- Active
- Size
- 3,577 SF
- Property subtype
- Office
Building Details
- Year Built
- 1925
Listing agent Jonah D. Glickman License #MA #9566848 (508) 753-9100
Listing office NAI Glickman Kovago & Jacobs (508) 753-9100
Listing date Mar 6, 2026
Source Naiglobal
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of NAI Glickman Kovago & Jacobs
HighLights
- Move‑in ready for medical or clinical use: Existing layout with private offices and exam rooms minimizes additional investment.
- Completely renovated 3,577sf office building in excellent condition.
- Highly attractive historic exterior.
- Prime location in Institution Park neighborhood, near educational institutions, healthcare facilities, and Elm Park.
- Easy access to major transportation routes (I‑290, I‑190, Rte 9, Rte 146).
- Located in a mixed‑use area with residential and commercial establishments, providing accessibility to amenities.
Overview
The property at 105 Merrick St, Worcester, MA is a 3,577 square foot office building that has been completely renovated and is in excellent condition. Most recently, the building was utilized by Spectrum Health Systems, Inc. for behavioral health therapies. The exterior of the building features a highly attractive historic look. The existing layout includes numerous private offices and exam rooms, making it highly functional for a medical or clinical user to take advantage of the existing infrastructure without substantial additional investment. The property is located within the Institution Park neighborhood, known for its proximity to educational institutions and healthcare facilities, contributing to a community-focused environment further cemented by its proximity to Elm Park. The location is within a mixed-use area, featuring a combination of residential homes and commercial establishments, providing accessibility to area amenities. The property benefits from easy access to nearby major transportation routes, including I-290 (approximately 1 mile), I-190 (approximately 3 miles), Rte 9 (approximately 1.5 miles), and Rte 146 (approximately 2.5 miles).
Financial Insights
Value Estimation Calculated for Healthcare Medical
Conservative
$665.3K
NOI $59,879 @ 9.00% cap · cautious / downside scenario
Moderate
$855.4K
NOI $59,879 @ 7.00% cap · market / base-case scenario
Aggressive
$1.20M
NOI $59,879 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Healthcare Medical
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.3k | $30.00 |
| − Vacancy | −$7.5k | −$2.10 |
| EGI | $99.8k | $27.90 |
| − OpEx | −$39.9k | −$11.16 |
| NOI | $59.9k | $16.74 |
3,577 SF · lease $30.00/SF/yr · vacancy 7.00% · expense 40.00%
Alternative Use Scenarios
Best Use
Healthcare Medical
$855.4K
$748.5K – $998.0K
NOI $59,879 @ 7.0% cap · market cap 8.62%
Second Best
Office B
$848.5K
$742.5K – $989.9K
NOI $59,396 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,575 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Casey Tracy L
Physician
Spectrum Health Systems, ...
Medical Clinic
Leveille Beatrice M
Counselor
George Clark
Foster Care Service
James Bresnahan
Counselor
Similar Places Nearby
- Worcester Cat Hospital & Bird Clinic — 347 Park Ave, Worcester, MA 01610
Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.8126
- Latitude
- 42.2665
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - 3,577 SF renovated office building in Worcester, MA.
Where is this medical office space located?
The property is located at 105 Merrick Street Worcester, MA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Move‑in ready for medical or clinical use: Existing layout with private offices and exam rooms minimizes additional investment.; Completely renovated 3,577sf office building in excellent condition.; Highly attractive historic exterior.
