Medical Office
For Sale
$595,000
227 Russell St, Worcester, MA 01602
For-sale medical office space located at 227 Russell St in Worcester, Massachusetts.
Property Size2,445 SF
Price / SF$243.35
Days on Market246
Property Features for 227 Russell St
General Information
Standard status
Active
Size
2,445 SF
Property subtype
Commercial
Zoning
BL-1
Taxes and HOA fees
Annual Taxes
$12,362
Building Details
Building Size
2,445 SF
Year Built
1920
Listing Agency:
Greater Boston Commercial Properties, Inc.
Listed By:
Bret O'Brien · License #8994
(508) 925-7477
Source:
Churchillprop
Added: Feb 16
Changed: Oct 6
Last Checked: Oct 19 at 4:56AM
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 Greater Boston Commercial Properties, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering presents a for-sale medical office space at 227 Russell St in Worcester, Massachusetts. The property is categorized as medical office and office space, making it suitable for professional uses aligned with healthcare office operations.
The asset’s address provides straightforward identification for buyers and brokers conducting site visits and due diligence. Prospective purchasers should confirm all specifics related to layout, condition, and any building systems or allowable uses directly as part of the transaction process.
Based on the information available, the most important takeaway is that the property is positioned as a healthcare office setting within a broader office-use context.
The asset’s address provides straightforward identification for buyers and brokers conducting site visits and due diligence. Prospective purchasers should confirm all specifics related to layout, condition, and any building systems or allowable uses directly as part of the transaction process.
Based on the information available, the most important takeaway is that the property is positioned as a healthcare office setting within a broader office-use context.
Key Highlights
- Medical office space for sale at 227 Russell St in Worcester, Massachusetts
- Year built: 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,929
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,580
$818.6K
Cap Rate 7%
$584,700
$584.7K
Cap Rate 9%
$454,767
$454.8K
Market Conditions
NOI Build-Up for 2,445 SF
Gross rent
$73.4K $30.00/SF
− Vacancy
−$5.1K −$2.10/SF
EGI
$68.2K $27.90/SF
− OpEx
−$27.3K −$11.16/SF
NOI
$40.9K $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 Rate 5%
$818,580
Cap Rate 7%
$584,700
Cap Rate 9%
$454,767
Alternative Uses
Best Use
Healthcare Medical
$584.7K
$511.6K – $682.2K
NOI $40,929 @ 7.0% cap · market cap 6.88%
Second Best
Office B
$580.0K
$507.5K – $676.7K
NOI $40,599 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$816.1K
$714.1K – $952.1K
NOI $57,126 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01602, MA
25,382
Population
10,483
Households
2.4
Avg Household Size
39
Median Age
47%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
4,376
Density / Sq Mi
$94,351
Median Household Income
$47,259
Median Earnings
$1,471
Median Rent
$380,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - For-sale medical office space located at 227 Russell St in Worcester, Massachusetts.
Where is this medical office space located?
The property is located at 227 Russell St Worcester, MA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Medical office space for sale at 227 Russell St in Worcester, Massachusetts; Year built: 1920
