Retail Printing Shop Retail
For Sale
Contact for pricing
340 Shrewsbury St, Worcester, MA 01604
Retail space formerly used as a printing shop with approximately 30 onsite parking spaces and access to major routes.
Property Size3,648 SF
Price / SF$267.27
Days on Market873
Property Features for 340 Shrewsbury St
General Information
Standard status
Active
Size
3,648 SF
Total Parking Spaces
30
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Properties For Sale
at 340 Shrewsbury St Contact us- Floor
- Bldg
- Size
- 3,648 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
340 Shrewsbury St
- Kelleher & Sadowsky is pleased to present 340 Shrewsbury Street in Worcester Massachusetts...
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Contact us
Listing Agency:
Kelleher & Sadowsky
(508) 755-0707
Listed By:
Drew C. Higgins · License #9515069
(508) 735-1783
Source:
Moodyscre
Added: Apr 18, 2024
Changed: Aug 8
Last Checked: Jul 22 at 8:18PM
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 Kelleher & Sadowsky
Investment Insights
Based on property information with market context.
340 Shrewsbury Street is a retail storefront property that was previously used as a retail printing shop. The offering provides approximately 30 onsite parking spaces for customer and staff use.
Situated in the middle of Shrewsbury Street, the property is positioned among local amenities and offers quick and easy access to Route 9, I-290, and Worcester’s Central Business District.
This combination of retail-focused space and on-site parking supports a range of retail and service uses that can benefit from convenient street access and nearby connectivity.
Situated in the middle of Shrewsbury Street, the property is positioned among local amenities and offers quick and easy access to Route 9, I-290, and Worcester’s Central Business District.
This combination of retail-focused space and on-site parking supports a range of retail and service uses that can benefit from convenient street access and nearby connectivity.
Key Highlights
- Retail space formerly used as a printing shop
- Approximately 30 onsite parking spaces
- Located on Shrewsbury Street with quick access to Route 9 and I‑290
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,140
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,002,800
$1.0M
Cap Rate 7%
$716,286
$716.3K
Cap Rate 9%
$557,111
$557.1K
Market Conditions
NOI Build-Up for 3,648 SF
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.
Gross rent
$76.6K $21.00/SF
− Vacancy
−$5.0K −$1.37/SF
EGI
$71.6K $19.64/SF
− OpEx
−$21.5K −$5.89/SF
NOI
$50.1K $13.74/SF
Area
Worcester, MA
Vacancy
6.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,002,800
Cap Rate 7%
$716,286
Cap Rate 9%
$557,111
Alternative Uses
Best Use
Retail
$716.3K
$626.8K – $835.7K
NOI $50,140 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,234 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 91%
Shops & Services 9%
Dunkin' Donuts
Dining
9,679 visits/mo
0.1 miles
Little Caesars Pizza
Dining
6,641 visits/mo
0.3 miles
SUBWAY
Dining
2,788 visits/mo
0.1 miles
Enterprise Rent-A-Car
Shops & Services
1,116 visits/mo
0.2 miles
Extra Space Storage
Shops & Services
674 visits/mo
0.1 miles
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail space formerly used as a printing shop with approximately 30 onsite parking spaces and access to major routes.
Where is this storefront property located?
The property is located at 340 Shrewsbury St Worcester, MA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Retail space formerly used as a printing shop; Approximately 30 onsite parking spaces; Located on Shrewsbury Street with quick access to Route 9 and I‑290
