Mixed-Use Property with Office
For Sale
$350,000
28 Worcester Rd, Sterling, MA 01564
Two residential units accompany a dedicated office area with street-level exposure and off-street parking.
Property Size2,500 SF
Price / SF$140
Days on Market93
Property Features for 28 Worcester Rd
General Information
Standard status
Active
Size
2,500 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1897
Listing Agency:
Lamacchia Realty, Inc.
Listed By:
The Balestracci Group
(508) 834-8081
Source:
Alpernandmesenbourg
Added: Aug 1
Changed: Oct 25
Last Checked: Oct 7 at 5:18PM
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 Lamacchia Realty, Inc.
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Investment Insights
Based on property information with market context.
This mixed-use property at 28 Worcester Road combines two residential units with a separate professional office area. The building includes a front porch entry, street-level exposure for the office component, and off-street parking serving residents and clients. Constructed in 1897, the property is zoned C and offers a configuration that accommodates both residential occupancy and business use.
Located in Sterling, the property provides access to I-190 and regional destinations including Worcester and Leominster. Its combination of residential units, office space, parking, and route access creates a flexible setting for an owner-user or investment-oriented buyer.
Located in Sterling, the property provides access to I-190 and regional destinations including Worcester and Leominster. Its combination of residential units, office space, parking, and route access creates a flexible setting for an owner-user or investment-oriented buyer.
Key Highlights
- Two residential units plus a dedicated professional office area
- Street‑level office exposure on 28 Worcester Road
- Off‑street parking for residents and office users
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,410
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,200
$588.2K
Cap Rate 7%
$420,143
$420.1K
Cap Rate 9%
$326,778
$326.8K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$54.9K $21.96/SF
− Vacancy
−$1.4K −$0.57/SF
EGI
$53.5K $21.39/SF
− OpEx
−$24.1K −$9.63/SF
NOI
$29.4K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,200
Cap Rate 7%
$420,143
Cap Rate 9%
$326,778
Alternative Uses
Best Use
Office B
$650.9K
$569.5K – $759.4K
NOI $45,563 @ 7.0% cap · market cap 13.02%
Second Best
Multifamily LT 5
$482.8K
$422.4K – $563.2K
NOI $33,794 @ 7.0% cap · market cap 9.66%
Theoretical Best
Office A
$853.7K
$747.0K – $996.0K
NOI $59,760 @ 7.0% cap · market cap 17.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 01564, MA
7,985
Population
3,298
Households
2.4
Avg Household Size
48
Median Age
53%
College-Educated
95%
High-School Grad
30.6 sq mi
ZIP Area
261
Density / Sq Mi
$136,027
Median Household Income
$78,506
Median Earnings
$1,606
Median Rent
$467,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential units accompany a dedicated office area with street-level exposure and off-street parking.
Where is this mixed-use property located?
The property is located at 28 Worcester Rd Sterling, MA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two residential units plus a dedicated professional office area; Street‑level office exposure on 28 Worcester Road; Off‑street parking for residents and office users
