46 Millbury St, Worcester, MA 01610

Building Details

Building Size 6,955 SF More

Year Built 1900 More

Listing Agency: Property Investors & Advisors, LLC

Listed By: Brian Allen · License #9583389 Show Phone

Source: 413realestate

Added: Sep 16 Changed: Oct 26 Last Checked: Nov 8 at 3:08AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This mixed-use property contains 6,955 square feet in a building constructed in 1900. The layout includes three commercial units—two storefronts and a karaoke bar—along with three residential units, each configured with three bedrooms. The property is zoned BG-3, and all units are leased with separate utilities.

Fire sprinklers and an alarm system serve the building, supporting a range of potential uses. The property is located at 46 Millbury St in Worcester, Massachusetts, within the Canal District.

Key Highlights

• 6,955‑square‑foot mixed‑use building at 46 Millbury St, Worcester, MA 01610
• Three commercial units: two storefronts and one karaoke bar
• Three residential units, each with 3 BR

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$95,593

Cap Rate

7.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,911,860 $1.9M

Cap Rate 7%

$1,365,614 $1.4M

Cap Rate 9%

$1,062,144 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,955 SF

Gross rent

$146.1K $21.00/SF

− Vacancy

−$9.5K −$1.37/SF

EGI

$136.6K $19.64/SF

− OpEx

−$41.0K −$5.89/SF

NOI

$95.6K $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%

$1,911,860

Cap Rate 7%

$1,365,614

Cap Rate 9%

$1,062,144

Alternative Uses

Best Use

Specialty Retail

$1.61M

$1.40M – $1.87M (±1% cap)

NOI $112,389 @ 7.0% cap · market cap 9.37%

Second Best

Retail

$1.37M

$1.19M – $1.59M (±1% cap)

NOI $95,593 @ 7.0% cap · market cap 7.97%

Theoretical Best

Office A

$2.32M

$2.03M – $2.71M (±1% cap)

NOI $162,500 @ 7.0% cap · market cap 13.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Veterinary Clinic Carpet & Flooring Store Pet Store Pet Store & Service Florist (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,448

Businesses Nearby

Explore this area Business Placement

Demographics for 01610, MA

28,717

Population

10,263

Households

2.8

Avg Household Size

28

Median Age

18%

College-Educated

74%

High-School Grad

2.1 sq mi

ZIP Area

13,675

Density / Sq Mi

$43,757

Median Household Income

$22,978

Median Earnings

$1,339

Median Rent

$279,100

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Worcester County, MA

$193 Jul

$188 Aug

$166 Sep

$184 Oct

Properties on Market for Mixed-use properties in Worcester County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Three-Unit Retail Property

1 Ferdinand Street, Worcester, MA 01603

$1,200,000

7,964 SF

View details

Two Multifamily Buildings Near WPI

9-11 Dover St, Worcester, MA 01609

$1,650,000

0.17 Acres

View details

Triplex Property with Remodeled Units

15 King Philip Road, Worcester, MA 01606

$1,650,000

6,306 SF

View details

17-Room Duplex with Garage

23 Germain St, Worcester, MA 01602

$998,000

5,560 SF

View details

Remodeled Six-Unit Apartment Building

120 Southgate St, Worcester, MA 01603

$999,900

5,535 SF

View details

Seven-Unit Student Housing Building

28 Sever St, Worcester, MA 01609

$1,499,000

View details

Four-Unit Multifamily Property

5.5 & 7 Winslow St, Worcester, MA 01609

$1,050,000

4,900 SF

View details

Four-Bedroom Multifamily Property

128 Beacon St, Worcester, MA 01610

$850,000

View details

Renovated Multifamily Property with Lots

15 Forestdale Rd, Worcester, MA 01604

$1,249,000

4,338 SF

View details

Renovated Triplex Near Clark University

484 Park Avenue, Worcester, MA 01610

$1,150,000

4,257 SF

View details

Renovated Triplex Near Clark University

484 Park Ave, Worcester, MA 01610

$1,150,000

View details

Renovated Three-Family Triplex

139 Lincoln St, Worcester, MA 01605

$899,000

4,870 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Income-producing building with leased commercial and residential units, separate utilities, and fire protection systems.

Where is this mixed-use property located?

The property is located at 46 Millbury St Worcester, MA.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 6,955‑square‑foot mixed‑use building at 46 Millbury St, Worcester, MA 01610; Three commercial units: two storefronts and one karaoke bar; Three residential units, each with 3 BR