Turn-Key Medical Office
New
For Sale
$450,000
200 Lincoln Street Unit 1, Worcester, MA 01605
Clinical improvements include specialized gas and suction systems, treatment rooms, recovery areas, and a dedicated sterilization space.
Property Size2,060 SF
Price / SF$218.45
Days on Market5
Property Features for 200 Lincoln Street Unit 1
General Information
Standard status
Active
Size
2,060 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
2,060 SF
Year Built
1900
Listing Agency:
RE/MAX Partners
(774) 696-1810
Listed By:
James Kalogeropoulos · License #9072828
(774) 696-1810
Source:
Iverty
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 3:00PM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This 2,060 SF medical office condominium is configured for clinical operations, with four exam and treatment rooms, two patient recovery rooms, and a reception and waiting area. Additional improvements include private and associate offices, a laboratory and sterilization area, a break room with kitchenette, and two restrooms. Centrally piped oxygen and nitrous oxide, central suction, and foot-pedal-operated faucets support specialized healthcare use. Separate entrance and exit doors create a defined patient-flow layout, while the ADA-compliant entrance adds accessibility.
The property offers more than 60 on-site parking spaces, street visibility, highway access, and convenient ingress and egress. Zoning is BL-1. The condominium is offered as real estate only; existing medical or dental equipment may be available separately.
The property offers more than 60 on-site parking spaces, street visibility, highway access, and convenient ingress and egress. Zoning is BL-1. The condominium is offered as real estate only; existing medical or dental equipment may be available separately.
Key Highlights
- 2,060 SF medical office condominium at 200 Lincoln Street, #1, Worcester, MA 01605
- Four exam/treatment rooms and two patient recovery rooms
- Centrally piped oxygen and nitrous oxide, plus central suction
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
$34,484
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
7.66%
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%
$689,680
$689.7K
Cap Rate 7%
$492,629
$492.6K
Cap Rate 9%
$383,156
$383.2K
Market Conditions
NOI Build-Up for 2,060 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
$61.8K $30.00/SF
− Vacancy
−$4.3K −$2.10/SF
EGI
$57.5K $27.90/SF
− OpEx
−$23.0K −$11.16/SF
NOI
$34.5K $16.74/SF
Area
Worcester, MA
Vacancy
7.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$689,680
Cap Rate 7%
$492,629
Cap Rate 9%
$383,156
Alternative Uses
Best Use
Healthcare Medical
$492.6K
$431.1K – $574.7K
NOI $34,484 @ 7.0% cap · market cap 7.66%
Second Best
Office B
$488.7K
$427.6K – $570.1K
NOI $34,206 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$687.6K
$601.6K – $802.2K
NOI $48,131 @ 7.0% cap · market cap 10.70%
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
2,360
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Clinical improvements include specialized gas and suction systems, treatment rooms, recovery areas, and a dedicated sterilization space.
Where is this medical office space located?
The property is located at 200 Lincoln Street Unit 1 Worcester, MA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,060 SF medical office condominium at 200 Lincoln Street, #1, Worcester, MA 01605; Four exam/treatment rooms and two patient recovery rooms; Centrally piped oxygen and nitrous oxide, plus central suction
