Mixed-Use Property with
For Sale
$1,200,000
46 Millbury St, Worcester, MA 01610
Income-producing building with leased commercial and residential units, separate utilities, and fire protection systems.
Property Size6,955 SF
Price / SF$172.54
Days on Market22
Property Features for 46 Millbury St
General Information
Standard status
Active
Size
6,955 SF
Property subtype
Residential Income
Zoning
BG-3
Net Operating Income
$62,100
Taxes and HOA fees
Annual Taxes
$7,570
Building Details
Building Size
6,955 SF
Year Built
1900
Listing Agency:
Property Investors & Advisors, LLC
Listed By:
Brian Allen · License #9583389
(508) 868-0927
Source:
413realestate
Added: Sep 16
Changed: Sep 30
Last Checked: Oct 5 at 3:54PM
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 Property Investors & Advisors, LLC
Investment Insights
Based on property information with market context.
This mixed-use property contains 6,955 square feet in a building constructed in 1900. The layout includes three commercial units—two storefronts and a karaoke bar—along with three residential units, each configured with three bedrooms. The property is zoned BG-3, and all units are leased with separate utilities.
Fire sprinklers and an alarm system serve the building, supporting a range of potential uses. The property is located at 46 Millbury St in Worcester, Massachusetts, within the Canal District.
Fire sprinklers and an alarm system serve the building, supporting a range of potential uses. The property is located at 46 Millbury St in Worcester, Massachusetts, within the Canal District.
Key Highlights
- 6,955‑square‑foot mixed‑use building at 46 Millbury St, Worcester, MA 01610
- Three commercial units: two storefronts and one karaoke bar
- Three residential units, each with 3 BR
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,593
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,911,860
$1.9M
Cap Rate 7%
$1,365,614
$1.4M
Cap Rate 9%
$1,062,144
$1.1M
Market Conditions
NOI Build-Up for 6,955 SF
Gross rent
$146.1K $21.00/SF
− Vacancy
−$9.5K −$1.37/SF
EGI
$136.6K $19.64/SF
− OpEx
−$41.0K −$5.89/SF
NOI
$95.6K $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 Rate 5%
$1,911,860
Cap Rate 7%
$1,365,614
Cap Rate 9%
$1,062,144
Alternative Uses
Best Use
Specialty Retail
$1.61M
$1.40M – $1.87M
NOI $112,389 @ 7.0% cap · market cap 9.37%
Second Best
Retail
$1.37M
$1.19M – $1.59M
NOI $95,593 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,500 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,448
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing building with leased commercial and residential units, separate utilities, and fire protection systems.
Where is this mixed-use property located?
The property is located at 46 Millbury St Worcester, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,955‑square‑foot mixed‑use building at 46 Millbury St, Worcester, MA 01610; Three commercial units: two storefronts and one karaoke bar; Three residential units, each with 3 BR
