139 Green St, Worcester, MA 01604

Building Details

Building Size 3,342 SF More

Year Built 1925 More

Listing Agency: PWK Realty LLC Show Phone

Listed By: May Mai · License #9531955 Show Phone

Source: Churchillprop

Added: Sep 18 Changed: Oct 31 Last Checked: Nov 8 at 4:45AM

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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 PWK Realty LLC

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Investment Insights

Based on property information with market context.

This freestanding restaurant building contains 3,342 square feet along with a full basement and 2+ tandem parking spaces. Constructed in 1925, the property is leased to a long-term restaurant tenant and is zoned BG-4.

Located at 139 Green St in Worcester’s Canal District, the property is within walking distance of Polar Park and surrounded by residential and mixed-use development. Its restaurant configuration, basement area, and on-site parking support continued commercial use.

Key Highlights

• 3,342‑square‑foot freestanding restaurant building
• Leased to a long‑term restaurant tenant
• Full basement included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,005

Cap Rate

4.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,080,100 $1.1M

Cap Rate 7%

$771,500 $771.5K

Cap Rate 9%

$600,056 $600.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,342 SF

Gross rent

$76.2K $22.80/SF

− Vacancy

−$4.2K −$1.25/SF

EGI

$72.0K $21.55/SF

− OpEx

−$18.0K −$5.39/SF

NOI

$54.0K $16.16/SF

Area

Worcester, MA

Vacancy

5.50%

Lease Rate

$22.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,080,100

Cap Rate 7%

$771,500

Cap Rate 9%

$600,056

Alternative Uses

Best Use

Specialty Retail

$771.5K

$675.1K – $900.1K (±1% cap)

NOI $54,005 @ 7.0% cap · market cap 4.70%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.12M

$976.1K – $1.30M (±1% cap)

NOI $78,084 @ 7.0% cap · market cap 6.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Pharmacy Storage Facility Garden Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,150

Businesses Nearby

88k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 43% Shops & Services 34% Groceries 17% Hotels & Casinos 3%

Burger King Dining

19,049 visits/mo 0.1 miles

Gala Foods Supermarket Groceries

15,286 visits/mo 0.4 miles

Dunkin' Donuts Dining

13,113 visits/mo 0.2 miles

Speedway Shops & Services

9,299 visits/mo 0.1 miles

Shell Shops & Services

8,050 visits/mo 0.3 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

Properties on Market for Conventional restaurants in Worcester

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Leased restaurant property with basement space and tandem parking.

Where is this conventional restaurant located?

The property is located at 139 Green St Worcester, MA.

What is the asking price?

The asking price for this property is $1,150,000.

What are key features of this property?

This property features: 3,342‑square‑foot freestanding restaurant building; Leased to a long‑term restaurant tenant; Full basement included