Commercial Building with
456 Franklin St Worcester, MA 01604
456 Franklin St, Worcester, MA, 01604
$425,000
For Sale
$425,000
A 40’ x 40’ commercial building with ample on-site parking, currently used for vehicle and equipment storage.
Property Size1,600 SF
Price / SF$265.63
Days on Market40
Property Features for 456 Franklin St
General Information
- Standard status
- Active
- Size
- 1,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1935
Listing agency
RE/MAX Partners
(508) 635-9910
Listed by
David Stead · License #BK9041617
(508) 635-9910
Source
Threehillsres
Added: Jun 12 Updated: Jul 21 at 4:41AM Checked: Jul 21 at 4:41AM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This property includes an existing 40’ x 40’ commercial building and ample on-site parking. The building has been used for vehicle and equipment storage and maintenance, and may support a range of business, service, contractor, warehouse, showroom, office, or redevelopment directions, subject to buyer due diligence.
Located in Worcester’s BG-2 General Business District on a well-traveled corridor, the site overlooks East Park and the Shrewsbury Street restaurant district area. The property is described as having quick access to UMass Chan Medical School, Union Station, downtown Worcester, and I-290.
The offering is positioned for buyers seeking a visible commercial site with existing improvements and parking, with zoning and permitted-use verification required as part of due diligence.
Located in Worcester’s BG-2 General Business District on a well-traveled corridor, the site overlooks East Park and the Shrewsbury Street restaurant district area. The property is described as having quick access to UMass Chan Medical School, Union Station, downtown Worcester, and I-290.
The offering is positioned for buyers seeking a visible commercial site with existing improvements and parking, with zoning and permitted-use verification required as part of due diligence.
Key Highlights
- 1935‑built 40' x 40' commercial building currently used for vehicle and equipment storage
- Located in Worcester’s BG‑2 General Business District with strong visibility on a well‑traveled corridor
- Ample on‑site parking available
Local Financial Insights For Warehouse
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 | $28.8k | $18.00 |
| − Vacancy | −$2.2k | −$1.37 |
| EGI | $26.6k | $16.63 |
| − OpEx | −$4.0k | −$2.49 |
| NOI | $22.6k | $14.14 |
1,600 SF · lease $18.00/SF/yr · vacancy 7.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$323.1K
$282.8K – $377.0K
NOI $22,620 @ 7.0% cap · market cap 5.32%
Second Best
Retail
$314.2K
$274.9K – $366.5K
NOI $21,991 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$534.0K
$467.3K – $623.1K
NOI $37,383 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Showrooms
Similar For Sale Nearby
Similar Off Market Nearby
- Record Management Center — 306 Shrewsbury St, Worcester, MA 01604
- Eastside Industrial Park — 23 Albany St, Worcester, MA 01604
- Melrose Self Storage Unit — 88 Shrewsbury St, Worcester, MA 01604
- Self Storage Facility — 51 Trahan Ave #1, Worcester, MA 01604
- Bigil Storage Facility — 180 Ingleside Ave, Worcester, MA 01604
FAQs
What type of property is this?
Warehouse - A 40’ x 40’ commercial building with ample on-site parking, currently used for vehicle and equipment storage.
Where is this warehouse located?
The property is located at 456 Franklin St Worcester, MA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1935‑built 40' x 40' commercial building currently used for vehicle and equipment storage; Located in Worcester’s BG‑2 General Business District with strong visibility on a well‑traveled corridor; Ample on‑site parking available
