Multi-Level Professional Office
23 Fruit Street Worcester, MA 01609
23 Fruit Street, Worcester, MA, 01609
$649,900
For Sale
$649,900
Professional office building with on-site parking for about ten vehicles, multi-level office layout, and updated kitchenette.
Property Size3,112 SF
Price / SF$208.84
Days on Market53
Property Features for 23 Fruit Street
General Information
- Standard status
- Active
- Size
- 3,112 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing agency
Coldwell Banker Realty - Worcester
Listed by
Brandon O'Neal
(508) 823-9400
Source
Ballowhutchinsonrealestate
Added: May 30 Updated: Jul 20 at 5:11AM Checked: Jul 20 at 5:11AM
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 Coldwell Banker Realty - Worcester
Investment Insights
Based on property information with market context.
This professional office building features a flexible multi-level layout with office spaces on the first and second floors, and half baths on each level. A converted third floor adds additional usable office area, and the building includes a full basement for storage. The property has been updated with a kitchenette, and several recent window AC units have been added.
On-site parking is available for approximately ten vehicles, supporting convenient access for employees and visitors.
The combination of classic period woodwork and practical updates creates a working environment that can support a range of professional office uses.
On-site parking is available for approximately ten vehicles, supporting convenient access for employees and visitors.
The combination of classic period woodwork and practical updates creates a working environment that can support a range of professional office uses.
Key Highlights
- Multi‑level professional office building built in 1920 in Worcester
- First and second floors feature multiple office spaces, with half baths on each level
- Converted third floor adds additional usable office area
Local Financial Insights For Office B
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 | $84.0k | $27.00 |
| − Vacancy | −$15.1k | −$4.86 |
| EGI | $68.9k | $22.14 |
| − OpEx | −$17.2k | −$5.54 |
| NOI | $51.7k | $16.61 |
3,112 SF · lease $27.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$738.2K
$645.9K – $861.3K
NOI $51,675 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$908.9K – $1.21M
NOI $72,710 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
TMS Worcester at Apogee ...
Medical Clinic
Apogee Integrated Mental ...
Medical Clinic
Mark J. Schlickman, ...
Physician
Montano Robert J
Physician
Mary L. Ludy, ...
Marriage Or Relationship Counselor
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Professional office building with on-site parking for about ten vehicles, multi-level office layout, and updated kitchenette.
Where is this office building located?
The property is located at 23 Fruit Street Worcester, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Multi‑level professional office building built in 1920 in Worcester; First and second floors feature multiple office spaces, with half baths on each level; Converted third floor adds additional usable office area
