Mixed-Use Triplex with Heated
For Sale
$695,000
328 Brooks St, Worcester, MA 01606
Three-family building with two 2-bedroom units, one 1-bedroom unit, and a detached heated 26 by 26 garage on-site.
Property Size2,926 SF
Lot Size0.24 Acres
Price / SF$237.53
Days on Market204
Property Features for 328 Brooks St
General Information
Standard status
Active
Size
2,926 SF
Total Parking Spaces
10
Lot size
0.24 Acres
Property subtype
Multi-Family
Zoning
BL-1
Net Operating Income
$64,200
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,993
Building Details
Building Size
2,926 SF
Year Built
1925
Stories
3
Listing Agency:
Property Investors & Advisors, LLC
(774) 413-0272
Listed By:
Carl Heitman
(978) 310-0484
Source:
Churchillprop
Added: Apr 2
Changed: Oct 6
Last Checked: Oct 20 at 6:56PM
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 Property Investors & Advisors, LLC
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Investment Insights
Based on property information with market context.
Three-family mixed-use property featuring two 2-bedroom units and one 1-bedroom unit, plus an oversized detached heated 26' by 26' garage. The garage provides additional rental income. Utilities are separately metered for gas and electric, and the owner panel is noted in the remarks; city water and sewer and natural gas are also provided. Water heaters are reported as circa 2022, 2023, and 2024. The property also notes recent improvements including repointing of the fieldstone foundation (per seller).
The building is located in Worcester’s BL-1 zone, just off I-190 at the Mountain St exit, with access to major routes and downtown Worcester. The site includes a 10,360 SF lot with 8 off-street parking spaces.
All units are described as TAW (per the remarks). The garage is separately metered from the residential units, and current rents total $5,350 per month (per the seller).
The building is located in Worcester’s BL-1 zone, just off I-190 at the Mountain St exit, with access to major routes and downtown Worcester. The site includes a 10,360 SF lot with 8 off-street parking spaces.
All units are described as TAW (per the remarks). The garage is separately metered from the residential units, and current rents total $5,350 per month (per the seller).
Key Highlights
- 3‑family multifamily in Worcester’s BL‑1 zone, just off I‑190 at the Mountain St exit
- Unit mix: two 2‑bedroom units and one 1‑bedroom unit; all units TAW
- Rents total $5,350/month; units and the garage are separately metered for gas & electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,969
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,380
$859.4K
Cap Rate 7%
$613,843
$613.8K
Cap Rate 9%
$477,433
$477.4K
Market Conditions
NOI Build-Up for 2,926 SF
Gross rent
$65.0K $22.20/SF
− Vacancy
−$3.6K −$1.22/SF
EGI
$61.4K $20.98/SF
− OpEx
−$18.4K −$6.29/SF
NOI
$43.0K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,380
Cap Rate 7%
$613,843
Cap Rate 9%
$477,433
Alternative Uses
Best Use
Multifamily LT 5
$613.8K
$537.1K – $716.2K
NOI $42,969 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$563.5K
$493.1K – $657.4K
NOI $39,444 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$976.6K
$854.6K – $1.14M
NOI $68,364 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-family building with two 2-bedroom units, one 1-bedroom unit, and a detached heated 26 by 26 garage on-site.
Where is this triplex located?
The property is located at 328 Brooks St Worcester, MA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 3‑family multifamily in Worcester’s BL‑1 zone, just off I‑190 at the Mountain St exit; Unit mix: two 2‑bedroom units and one 1‑bedroom unit; all units TAW; Rents total $5,350/month; units and the garage are separately metered for gas & electric
