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    Industrial Building with Loading Docks Title is generated by Realmo AI

    462 Pleasant St, Worcester, MA 01609

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    10,020 SF industrial building with loading docks for sale.

    Type:Industrial
    Property size:
    10,020 SF
    Lot size:
    0.41 Acres
    Added:
    Mar 2, 2026
    Days on Market:
    77
    Last Refresh:
    Mar 16 at 1:47 pm

    Property Features for 462 Pleasant St

    General Information

    Standard status
    Active
    Size
    10,020 SF
    Lot size
    0.41 Acres
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Joel Aho

    Listing agent Joel Aho License #MA

    Listing office Aho Properties

    Listing date Mar 2, 2026

    Source Crexi

    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 Aho Properties

    HighLights

    • 10,020+\/- SF building on 0.41 acres with two loading docks.
    • Includes adjacent lot as part of fenced loading/yard area.
    • Main building is 6,607+\/- SF with a 3,001+\/- SF basement.
    • Basement serviced by a conveyor belt.
    • Features 412+\/- SF of covered canopy/loading areas.
    • Convenient access: 10 minutes to Route 290 and 15 minutes to Route 90.

    Overview

    The property at 462 Pleasant Street features a 10,020+/- SF building situated on 0.41 acres of land, which includes an adjacent lot at 4 Mason Street. The main building encompasses 6,607+/- SF and includes a 412+/- SF covered canopy/loading area. The property also features a 3,001+/- SF basement area equipped with a conveyor belt. There are two loading docks. The adjacent lot at 4 Mason Street was previously occupied by a three-family structure and is now part of the fenced loading/yard area. The property is located 10 minutes from Route 290 and 15 minutes from Route 90.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    LKQ FinishMaster - Worcester Hardware & Home Improvement

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Skin Care Clinic Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Worcester Self Storage Box — 90 Lamartine St, Worcester, MA 01608
    • Near2Me Storage Units — 455 Park Ave, Worcester, MA 01610
    • Storage Rentals of America — 3 Chestnut St, Worcester, MA 01609
    • ULockStore - Cheap Self Storage Units — 266 Pleasant St, Worcester, MA 01609
    • Gemse — 222 MA-122A, Worcester, MA 01609

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8178602
    Latitude
    42.2629342

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    FAQs

    What type of property is this?
    Warehouse - 10,020 SF industrial building with loading docks for sale.
    Where is this warehouse located?
    The property is located at 462 Pleasant St Worcester, MA.
    What are key features of this property?
    This property features: 10,020+\/- SF building on 0.41 acres with two loading docks.; Includes adjacent lot as part of fenced loading/yard area.; Main building is 6,607+\/- SF with a 3,001+\/- SF basement.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joel Aho
    Real Estate License ID: MA
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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