144 Sturbridge Rd, Charlton, MA 01507

Building Details

Building Size 20,000 SF More

Year Built 1997 More

Units 2 More

Listing Agency: NAI Glickman Kovago & Jacobs

Listed By: Tim Whittredge · License #9562752-RE-S Show Phone

Source: Commercialcafe

Added: May 14 Changed: Nov 5 Last Checked: Nov 8 at 2:37AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Located directly on Route 20 in Charlton, the property at 144 Sturbridge Road offers a 20,000 square foot masonry block warehouse building. Approximately 16,000 square feet of vacant warehouse space is available, suitable for an owner-user, investor, or tenant. The remaining 4,000 square feet is leased to a cannabis retail operator. Constructed of durable masonry block, the building offers a functional layout suitable for a variety of industrial, storage, or light manufacturing uses. The vacant portion provides upside through lease-up or owner occupancy, while the existing tenancy adds an investment component. The concrete block and masonry building was constructed in 1997. The property benefits from connectivity to Worcester, Springfield, and the broader Central New England market, with convenient access to I-90 and other major regional corridors.

Key Highlights

• 16,000 sq ft of vacant warehouse space ideal for owner‑user or investor.
• Located directly on Route 20 with convenient access to I‑90 (Mass Pike) and I‑84.
• 4,000 sq ft leased to a cannabis retail operator, providing stable income.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$182,574

Cap Rate

7.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,651,480 $3.7M

Cap Rate 7%

$2,608,200 $2.6M

Cap Rate 9%

$2,028,600 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,000 SF

Gross rent

$276.0K $13.80/SF

− Vacancy

−$15.2K −$0.76/SF

EGI

$260.8K $13.04/SF

− OpEx

−$78.2K −$3.91/SF

NOI

$182.6K $9.13/SF

Area

Worcester County, MA

Vacancy

5.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,651,480

Cap Rate 7%

$2,608,200

Cap Rate 9%

$2,028,600

Alternative Uses

Best Use

Warehouse

$3.33M

$2.91M – $3.88M (±1% cap)

NOI $233,050 @ 7.0% cap · market cap 9.40%

Second Best

Industrial

$2.61M

$2.28M – $3.04M (±1% cap)

NOI $182,574 @ 7.0% cap · market cap 7.36%

Theoretical Best

Office A

$6.83M

$5.98M – $7.97M (±1% cap)

NOI $478,080 @ 7.0% cap · market cap 19.28%

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

Vehicle Outfitters Trucking Company TERPS CANNABIS Charlton (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Parking Lot & Garage Auto Parts Store Furniture & Home Goods Bakery (Bike/Boat/Book/etc) Store Hair Salon

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

49

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 01507, MA

13,315

Population

5,240

Households

2.5

Avg Household Size

44

Median Age

38%

College-Educated

94%

High-School Grad

42.2 sq mi

ZIP Area

316

Density / Sq Mi

$119,809

Median Household Income

$64,911

Median Earnings

$1,215

Median Rent

$405,200

Median Home Value

Market

Average Price Trend$/SF for Warehouses in Worcester County, MA

$190 Jul

$166 Aug

$108 Sep

$90.02 Oct

Properties on Market for Warehouses in Worcester County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Similar For Sale Nearby

See more

Versatile Flex Building

166 Worcester Rd, Charlton, MA 01507

Contact for pricing

2,252 SF

View details

Three-Unit Mixed-Use Property

32-34 Worcester, Charlton, MA 01507

$449,994

2,610 SF

View details

Mixed-Use Building with Café

7 Brookfield Rd, Charlton, MA 01507

$390,000

View details

Renovated Office Unit

191 City Depot # 102, Charlton, MA 01507

Contact for pricing

800 SF

View details

Office Unit with Basement Area

43A Sturbridge Rd, Charlton, MA 01507

Contact for pricing

View details

Frequently Asked Questions

What type of property is this?

Warehouse - 20,000 SF warehouse with income and value-add potential.

Where is this warehouse located?

The property is located at 144 Sturbridge Rd Charlton, MA.

What is the asking price?

The asking price for this property is $2,480,000.

What are key features of this property?

This property features: 16,000 sq ft of vacant warehouse space ideal for owner‑user or investor.; Located directly on Route 20 with convenient access to I‑90 (Mass Pike) and I‑84.; 4,000 sq ft leased to a cannabis retail operator, providing stable income.