Warehouse with Drive-In
21 Ellsworth St, Worcester, MA 01610
For Sale
New
Contact for pricing
The open-layout unit received new drywall and lighting as part of a 2023 renovation.
Property Size27,720 SF
Price / SF$0.00
Days on Market5
Property Features for 21 Ellsworth St
General Information
Standard status
Size
Zoning
Site & Location
Neighborhood
Highway Access
Road Access
Warehouse & Industrial
Clear Height
Warehouse Space
Drive-In Doors
Power
Three-Phase Power
Sprinkler System
Additional Details
Property Use
Amenities
shared restrooms
Building Details
Year Built
Year Renovated
Buildings
Building Size
Tenancy
Listing Agency:
Keller Williams Pinnacle Central
(508) 754-3020
Listed By:
The Jarboe Group
(508) 719-7648
Source:
Lockandkeyre
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:12PM
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 Keller Williams Pinnacle Central
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Investment Insights
Based on property information with market context.
This 4,411 SF warehouse unit occupies the rear of a 27,720 SF multi-tenant building and has an open layout with drive-in access from Sigel Street. Renovated in 2023, the space has new drywall, lighting and a large overhead door. Clear height is 16'8", with 600-amp, 3-phase power, gas heat, sprinkler coverage and access to shared restrooms.
The property is 0.3 miles from Kelley Square, with access to I-290, Route 146 and the Massachusetts Turnpike (I-90). It is zoned RG-5 General Residential and has a pre-existing nonconforming industrial use. A Certificate of Occupancy for B (Business) use was issued in October 2023; intended uses should be confirmed with the City of Worcester.
The property is 0.3 miles from Kelley Square, with access to I-290, Route 146 and the Massachusetts Turnpike (I-90). It is zoned RG-5 General Residential and has a pre-existing nonconforming industrial use. A Certificate of Occupancy for B (Business) use was issued in October 2023; intended uses should be confirmed with the City of Worcester.
Key Highlights
- 4,411 SF warehouse unit within a 27,720 SF multi‑tenant building
- 16'8" clear height
- 600‑amp, 3‑phase power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,359
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,247,180
$1.2M
Cap Rate 7%
$890,843
$890.8K
Cap Rate 9%
$692,878
$692.9K
Market Conditions
NOI Build-Up for 4,411 SF
Gross rent
$79.4K $18.00/SF
− Vacancy
−$6.0K −$1.37/SF
EGI
$73.4K $16.63/SF
− OpEx
−$11.0K −$2.49/SF
NOI
$62.4K $14.14/SF
Area
Worcester, MA
Vacancy
7.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,247,180
Cap Rate 7%
$890,843
Cap Rate 9%
$692,878
Alternative Uses
Best Use
Warehouse
$890.8K
$779.5K – $1.04M
NOI $62,359 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,061 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,933
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Warehouses in Worcester
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Storage 365 — 1 Brussels St, Worcester, MA 01610
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- Armory Motor Storage — 69 Armory St, Worcester, MA 01603
- Advanced Cleaning and Restoration — 16 Washburn St, Worcester, MA 01610
- Armory Street Cold Storage — 25 Armory St, Worcester, MA 01610
Frequently Asked Questions
What type of property is this?
Warehouse - The open-layout unit received new drywall and lighting as part of a 2023 renovation.
Where is this warehouse located?
The property is located at 21 Ellsworth St Worcester, MA.
What are key features of this property?
This property features: 4,411 SF warehouse unit within a 27,720 SF multi‑tenant building; 16'8" clear height; 600‑amp, 3‑phase power
