Retail Storefront Space with
For Sale
Contact for pricing
400 Grove Street # 6, Worcester, MA 01605
Ground-floor retail unit with on-site parking and convenient access along a heavily traveled corridor in Worcester.
Property Size1,565 SF
Price / SF$1.50
Days on Market189
Property Features for 400 Grove Street # 6
General Information
Standard status
Active
Size
1,565 SF
Property subtype
Commercial
Zoning
BG-3
Building Details
Year Built
1970
Listing Agency:
Castinetti Realty Group
(508) 719-8804
Listed By:
Nicholas Panarelli
(508) 864-2054
Source:
Churchillprop
Added: Apr 20
Changed: Oct 6
Last Checked: Oct 24 at 3:13PM
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 Castinetti Realty Group
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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.
Unit 6 at 400 Grove Street presents a versatile retail storefront opportunity with 1,565 square feet of commercial space. The unit is designed for flexible professional, retail, or service-based use, supported by convenient access and ample on-site parking.
Located along busy Grove Street in Worcester, the space benefits from high visibility and strong daily traffic. The property offers easy access to major routes and is positioned near hospitals, universities, and surrounding neighborhoods, with established businesses nearby.
Overall, this is a straightforward leasing/sales option for an operator seeking a prominent street-facing location with parking and accessible site logistics in a well-populated area.
Located along busy Grove Street in Worcester, the space benefits from high visibility and strong daily traffic. The property offers easy access to major routes and is positioned near hospitals, universities, and surrounding neighborhoods, with established businesses nearby.
Overall, this is a straightforward leasing/sales option for an operator seeking a prominent street-facing location with parking and accessible site logistics in a well-populated area.
Key Highlights
- Unit 6 at 400 Grove Street offers 1,565 SF of ground‑floor commercial space for lease
- Versatile space suitable for professional, retail, or service‑based uses
- Features ample on‑site parking for customers and tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,510
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,200
$430.2K
Cap Rate 7%
$307,286
$307.3K
Cap Rate 9%
$239,000
$239.0K
Market Conditions
NOI Build-Up for 1,565 SF
Gross rent
$32.9K $21.00/SF
− Vacancy
−$2.1K −$1.37/SF
EGI
$30.7K $19.64/SF
− OpEx
−$9.2K −$5.89/SF
NOI
$21.5K $13.74/SF
Area
Worcester, MA
Vacancy
6.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,200
Cap Rate 7%
$307,286
Cap Rate 9%
$239,000
Alternative Uses
Best Use
Retail
$307.3K
$268.9K – $358.5K
NOI $21,510 @ 7.0% cap · market cap 916.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$522.4K
$457.1K – $609.4K
NOI $36,565 @ 7.0% cap · market cap 1,558.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor retail unit with on-site parking and convenient access along a heavily traveled corridor in Worcester.
Where is this storefront property located?
The property is located at 400 Grove Street # 6 Worcester, MA.
What are key features of this property?
This property features: Unit 6 at 400 Grove Street offers 1,565 SF of ground‑floor commercial space for lease; Versatile space suitable for professional, retail, or service‑based uses; Features ample on‑site parking for customers and tenants
