Retail Building with
209 Shrewsbury St Worcester, MA 01604
209 Shrewsbury St, Worcester, MA, 01604
$1,700,000
For Sale
$1,700,000
Retail building with an open-concept interior, ADA/ACA accessibility, and outdoor patio space.
Property Size5,859 SF
Price / SF$290.15
Days on Market89
Property Features for 209 Shrewsbury St
General Information
- Standard status
- Active
- Size
- 5,859 SF
Building Details
- Year Built
- 1935
Listing agency
Park Place Realty Enterprises
(508) 410-8464
Listed by
Karynsue Marchione-Reilly
(508) 410-8464
Source
Iverty
Added: Apr 24 Updated: Jul 21 at 7:52AM Checked: Jul 21 at 7:52AM
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 Park Place Realty Enterprises
Investment Insights
Based on property information with market context.
This retail building is offered for sale or lease and features a large open-concept layout designed for flexible use. The space includes ADA/ACA accessibility and offers Wi‑Fi service. It also has on-site catering support, an outdoor function area, and ambient lighting, along with two event/function spaces. The property was renovated in 2019 and is tastefully decorated.
Located on Shrewsbury Street in Worcester, the building presents frontage directly on the street. It is described as suitable for retail, store use, and function room use, with capacity noted for events.
The interior includes a total meeting room space of 3,000 square feet, and there are two event/function spaces to support simultaneous or separate programming.
Located on Shrewsbury Street in Worcester, the building presents frontage directly on the street. It is described as suitable for retail, store use, and function room use, with capacity noted for events.
The interior includes a total meeting room space of 3,000 square feet, and there are two event/function spaces to support simultaneous or separate programming.
Key Highlights
- Retail building built in 1935, renovated in 2019
- Open‑concept interior with ADA/ACA accessibility
- 3,000 total meeting room space with 2 event/function spaces
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 | $123.0k | $21.00 |
| − Vacancy | −$8.0k | −$1.37 |
| EGI | $115.0k | $19.64 |
| − OpEx | −$34.5k | −$5.89 |
| NOI | $80.5k | $13.74 |
5,859 SF · lease $21.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.15M
$1.01M – $1.34M
NOI $80,529 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,892 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Studio 209
Wedding Service
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail building with an open-concept interior, ADA/ACA accessibility, and outdoor patio space.
Where is this retail space located?
The property is located at 209 Shrewsbury St Worcester, MA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Retail building built in 1935, renovated in 2019; Open‑concept interior with ADA/ACA accessibility; 3,000 total meeting room space with 2 event/function spaces
