For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Property in Worcester Title is generated by Realmo AI

    146 -152 Chandler, Worcester, MA 01609

    View on Map
    Claim this Listing
    For Sale
    $2,900,000

    17-unit mixed-use property near Polar Park.

    Type:Investment
    Property size:
    17,410 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $166/SF
    Added:
    Mar 10, 2026
    Days on Market:
    119
    Last Refresh:
    Jul 3 at 3:03 am

    Property Features for 146 -152 Chandler

    General Information

    Standard status
    Active
    Size
    17,410 SF
    Lot size
    0.45 Acres
    Property subtype
    Investment

    Building Details

    Year Built
    1920

    We can help!

    Contact an agent
    Patrick Sullivan

    Listing office Cameron Prestige, LLC

    Listing date Mar 10, 2026

    Source Elliman

    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 Cameron Prestige, LLC

    HighLights

    • Mixed‑use property with 15 residential and 2 retail units.
    • Strong potential to increase Net Operating Income (NOI) by raising rents.
    • Large 3‑building property totaling 17,410 SF with 30‑car parking.
    • Convenient central Worcester location near Polar Park (Red Sox AAA team).
    • Recent renovations including apartments, rubber roof, and 2020 boiler.
    • Equipped with a sprinkler system and monitoring.

    Overview

    This mixed-use property in Worcester features 15 residential units and 2 retail units. The property consists of 3 contiguous buildings totaling 17,410 square feet, situated on a corner lot of almost half an acre with a stop light. There is a 30-car parking lot available. The apartments have been renovated, and the property includes a rubber roof, a sprinkler system, and a sprinkler monitoring system. A boiler heating system was installed in 2020. The property is located 0.6 miles from Polar Park, the home of the Red Sox AAA team. There is an opportunity to raise rents and grow net operating income.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    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.

    Component $ $/SF
    Gross rent $365.6k $21.00
    − Vacancy −$23.8k −$1.37
    EGI $341.8k $19.64
    − OpEx −$102.6k −$5.89
    NOI $239.3k $13.74
    17,410 SF · lease $21.00/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $3.42M
    $2.99M – $3.99M (±1% cap)
    NOI $239,292 @ 7.0% cap · market cap 8.25%
    Second Best
    Mixed Use
    $3.36M
    $2.94M – $3.92M (±1% cap)
    NOI $235,035 @ 7.0% cap · market cap 8.10%
    Theoretical Best
    Office A
    $5.81M
    $5.08M – $6.78M (±1% cap)
    NOI $406,776 @ 7.0% cap · market cap 14.03%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Nursing Home Pet Store Pet Grooming Service Pet Store & Service Bed & Breakfast Catering Service Veterinary Clinic (Bike/Boat/Book/etc) Store Restaurant (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8131366
    Latitude
    42.2604014

    FAQs

    What type of property is this?
    Mixed-use property - 17-unit mixed-use property near Polar Park.
    Where is this mixed-use property located?
    The property is located at 146 -152 Chandler Worcester, MA.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: Mixed‑use property with 15 residential and 2 retail units.; Strong potential to increase Net Operating Income (NOI) by raising rents.; Large 3‑building property totaling 17,410 SF with 30‑car parking.
    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message