Single-Story Retail Storefront
For Sale
$995,000
181 Shrewsbury St, Worcester, MA 01604
Newly constructed storefront offers an open layout, two restrooms, and ADA compliance with convenient parking.
Property Size2,560 SF
Lot Size0.11 Acres
Price / SF$388.67
Days on Market82
Property Features for 181 Shrewsbury St
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
10
Lot size
0.11 Acres
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,528
Building Details
Year Built
2020
Stories
1
Listing Agency:
Kelleher and Sadowsky Associates, Inc.
(508) 643-8166
Listed By:
Mark Johns
Source:
Classifiedrealtygroup
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 24 at 3:01AM
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 and Sadowsky Associates, Inc.
Investment Insights
Based on property information with market context.
This newly constructed, single-story retail building offers approximately 2,560 square feet of retail-ready space with a modern open floor plan. The exterior features a stone façade and stucco siding, supporting strong curb presence. The interior includes two restrooms and is fully ADA-compliant, making it well-suited for a broad range of retail and service concepts that require accessible amenities.
The property is positioned on a 4,672 square-foot lot with visibility and accessibility from Shrewsbury Street, located along Worcester’s restaurant row. It provides 10 parking spaces, supporting customer access. Additional connectivity includes easy access to Downtown Worcester, Route 9, and Interstate 290.
For tenants or buyers seeking a contemporary storefront with an efficient, open layout and on-site parking, this building’s combination of ADA compliance, two restrooms, and newly constructed finishes provides a practical foundation for operating a retail business. Its restaurant-row setting can support concepts that benefit from proximity to active dining and neighborhood foot traffic.
The property is positioned on a 4,672 square-foot lot with visibility and accessibility from Shrewsbury Street, located along Worcester’s restaurant row. It provides 10 parking spaces, supporting customer access. Additional connectivity includes easy access to Downtown Worcester, Route 9, and Interstate 290.
For tenants or buyers seeking a contemporary storefront with an efficient, open layout and on-site parking, this building’s combination of ADA compliance, two restrooms, and newly constructed finishes provides a practical foundation for operating a retail business. Its restaurant-row setting can support concepts that benefit from proximity to active dining and neighborhood foot traffic.
Key Highlights
- Newly constructed single‑story storefront built in 2020 with an approximately 2,560 SF interior
- Located on a 4,672 SF lot with a stone facade and stucco siding
- Modern open floor plan with two restrooms
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
$35,186
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
3.54%
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%
$703,720
$703.7K
Cap Rate 7%
$502,657
$502.7K
Cap Rate 9%
$390,956
$391.0K
Market Conditions
NOI Build-Up for 2,560 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
$53.8K $21.00/SF
− Vacancy
−$3.5K −$1.37/SF
EGI
$50.3K $19.64/SF
− OpEx
−$15.1K −$5.89/SF
NOI
$35.2K $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%
$703,720
Cap Rate 7%
$502,657
Cap Rate 9%
$390,956
Alternative Uses
Best Use
Retail
$502.7K
$439.8K – $586.4K
NOI $35,186 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$854.5K
$747.7K – $996.9K
NOI $59,813 @ 7.0% cap · market cap 6.01%
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
2,609
Businesses Nearby
53k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 81%
Shops & Services 13%
Hotels & Casinos 5%
Home Improvements & Furnishings 1%
Starbucks
Dining
30,578 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,679 visits/mo
0.3 miles
ScrubaDub Car Wash
Shops & Services
5,749 visits/mo
0.2 miles
SUBWAY
Dining
2,788 visits/mo
0.3 miles
Homewood Suites by Hilton Worcester
Hotels & Casinos
2,732 visits/mo
0.5 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
- French Bouquet Florist — 409 Shrewsbury St, Worcester, MA 01604
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Frequently Asked Questions
What type of property is this?
Storefront property - Newly constructed storefront offers an open layout, two restrooms, and ADA compliance with convenient parking.
Where is this storefront property located?
The property is located at 181 Shrewsbury St Worcester, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Newly constructed single‑story storefront built in 2020 with an approximately 2,560 SF interior; Located on a 4,672 SF lot with a stone facade and stucco siding; Modern open floor plan with two restrooms
