Grocery Store with Walk-In
New
For Sale
$530,000
204 Cambridge St, Worcester, MA 01603
Commercially zoned building with a loading dock, refrigerated storage, and on-site parking in a walkable Worcester setting.
Property Size2,543 SF
Lot Size0.23 Acres
Price / SF$208.42
Days on Market2
Property Features for 204 Cambridge St
General Information
Standard status
Active
Size
2,543 SF
Total Parking Spaces
15
Lot size
0.23 Acres
Property subtype
Commercial
Zoning
BL-1
Taxes and HOA fees
Annual Taxes
$6,595
Amenities
loading dock
walk-in cooler
Building Details
Building Size
2,543 SF
Year Built
1945
Buildings
1
Listing Agency:
RE/MAX Compass
(413) 454-7553
Listed By:
Andrey Bateyko
(413) 454-7553
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 9:53AM
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 Compass
Investment Insights
Based on property information with market context.
The property at 204 Cambridge St. in Worcester is a 2,543-square-foot grocery and convenience store building on a 0.23-acre lot. Constructed in 1945, the building includes a loading dock and walk-in cooler, with 10–15 parking spaces serving the site. BL-1 zoning supports its commercial property classification.
The location scores 79 for walkability, 52 for bikeability, and 36 for transit access. The property is positioned within Worcester, Massachusetts, with access to surrounding neighborhoods, major roadways, employment centers, and the broader Worcester market.
The location scores 79 for walkability, 52 for bikeability, and 36 for transit access. The property is positioned within Worcester, Massachusetts, with access to surrounding neighborhoods, major roadways, employment centers, and the broader Worcester market.
Key Highlights
- 2,543‑square‑foot grocery and convenience store building
- 0.23‑acre lot with 10–15 parking spaces
- BL‑1 commercial zoning
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
$41,094
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
7.75%
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%
$821,880
$821.9K
Cap Rate 7%
$587,057
$587.1K
Cap Rate 9%
$456,600
$456.6K
Market Conditions
NOI Build-Up for 2,543 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
$58.0K $22.80/SF
− Vacancy
−$3.2K −$1.25/SF
EGI
$54.8K $21.55/SF
− OpEx
−$13.7K −$5.39/SF
NOI
$41.1K $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 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%
$821,880
Cap Rate 7%
$587,057
Cap Rate 9%
$456,600
Alternative Uses
Best Use
Specialty Retail
$587.1K
$513.7K – $684.9K
NOI $41,094 @ 7.0% cap · market cap 7.75%
Second Best
Retail
$499.3K
$436.9K – $582.5K
NOI $34,952 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$848.8K
$742.7K – $990.3K
NOI $59,416 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
75k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Groceries 25%
Shops & Services 24%
Electronics 3%
McDonald's
Dining
33,435 visits/mo
0.4 miles
Price Chopper Supermarkets
Groceries
18,977 visits/mo
0.4 miles
Dollar General
Shops & Services
8,205 visits/mo
0.5 miles
7-Eleven
Shops & Services
7,088 visits/mo
0.5 miles
Little Caesars Pizza
Dining
2,571 visits/mo
0.5 miles
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Makola Market — 1145 Main St, Worcester, MA 01603
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- Plaza Supermarket — 1000 Main St, Worcester, MA 01603
- Worcester Beer Garden — No, 84 54 Carrera Office, Worcester, MA 01608
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercially zoned building with a loading dock, refrigerated storage, and on-site parking in a walkable Worcester setting.
Where is this grocery and convenience store located?
The property is located at 204 Cambridge St Worcester, MA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 2,543‑square‑foot grocery and convenience store building; 0.23‑acre lot with 10–15 parking spaces; BL‑1 commercial zoning
