Fully Renovated Mixed-Use
249 Lincoln Street Worcester, MA 01605
249 Lincoln Street, Worcester, MA, 01605
$1,300,000
For Sale
$1,300,000
Three-story mixed-use building with seven units, separately metered utilities, and more than four off-street parking spaces.
Property Size7,256 SF
Lot Size0.15 Acres
Price / SF$179.16
Days on Market136
Property Features for 249 Lincoln Street
General Information
- Standard status
- Active
- Size
- 7,256 SF
- Lot size
- 0.15 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Horvath & Tremblay
Listed by
Ethan Lazar
(617) 731-4644
Source
Hammondre
Added: Mar 7 Updated: Jul 20 at 7:17PM Checked: Jul 21 at 6:19AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
249 Lincoln Street is a fully renovated three-story mixed-use investment property containing seven total units. The building includes four two-bedroom/one-bathroom apartments, one studio apartment, and two commercial units. Residential units have been recently renovated, and each apartment is separately metered for heat, hot water, and electricity, with utilities paid directly by the tenants.
The property sits on a 0.15-acre parcel and provides over four off-street parking spaces. It is located less than one block from UMass Memorial Medical Center - Hahnemann Campus, supporting the building’s mixed-income profile.
The two commercial units offer additional stability, with more than three years remaining on both leases and annual increases noted in the offering.
The property sits on a 0.15-acre parcel and provides over four off-street parking spaces. It is located less than one block from UMass Memorial Medical Center - Hahnemann Campus, supporting the building’s mixed-income profile.
The two commercial units offer additional stability, with more than three years remaining on both leases and annual increases noted in the offering.
Key Highlights
- Fully renovated 3‑story mixed‑use building (7 total units): four 2 bed/1 bath apartments, one studio, and two commercial units
- Approx. 7,135 SF gross living area in 11,635 SF gross building area on a 0.15‑acre parcel
- Over four off‑street parking 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 | $152.4k | $21.00 |
| − Vacancy | −$9.9k | −$1.37 |
| EGI | $142.5k | $19.64 |
| − OpEx | −$42.7k | −$5.89 |
| NOI | $99.7k | $13.74 |
7,256 SF · lease $21.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.42M
$1.25M – $1.66M
NOI $99,730 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,815 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,533 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Three-story mixed-use building with seven units, separately metered utilities, and more than four off-street parking spaces.
Where is this apartment building located?
The property is located at 249 Lincoln Street Worcester, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Fully renovated 3‑story mixed‑use building (7 total units): four 2 bed/1 bath apartments, one studio, and two commercial units; Approx. 7,135 SF gross living area in 11,635 SF gross building area on a 0.15‑acre parcel; Over four off‑street parking spaces
