Historic Office Property with Carriage
New
For Sale
$1,950,000
51 Harvard Street, Worcester, MA 01609
Granite construction, stained glass, fireplaces, and period woodwork distinguish the main building and separate carriage house.
Property Size9,962 SF
Lot Size0.48 Acres
Days on Market2
Property Features for 51 Harvard Street
General Information
Standard status
Active
Size
9,962 SF
Class
A
Total Parking Spaces
20
Lot size
0.48 Acres
Property subtype
Office
Amenities
slate roof
round tower
stained glass
fireplaces
decorative woodwork
period finishes
Building Details
Building Size
9,962 SF
Year Built
1879
Buildings
2
Construction
granite
Listing Agency:
Kelleher & Sadowsky
Listed By:
Drew Higgins · License #9515069
(508) 735-1783
Source:
Kelleher-sadowsky
Added: Oct 19
Last Checked: Oct 19 at 2:03PM
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 Kelleher & Sadowsky
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Investment Insights
Based on property information with market context.
This historic office property comprises a main building and a separate carriage house on approximately 0.48 acres. Built in 1879, the main building features granite construction, a slate roof, and a round tower. Interior details include stained glass, fireplaces, decorative woodwork, and other period finishes.
The property occupies a corner at Harvard Street and Highland Street in Worcester, near downtown and the area’s institutional, civic, and professional district. Approximately 20 on-site parking spaces are provided, with municipal and street parking nearby.
The property occupies a corner at Harvard Street and Highland Street in Worcester, near downtown and the area’s institutional, civic, and professional district. Approximately 20 on-site parking spaces are provided, with municipal and street parking nearby.
Key Highlights
- 1879 construction with granite exterior, slate roof, and round tower
- Main building plus a separate historic carriage house
- Approximately 0.48‑acre site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,419
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,308,380
$3.3M
Cap Rate 7%
$2,363,129
$2.4M
Cap Rate 9%
$1,837,989
$1.8M
Market Conditions
NOI Build-Up for 9,962 SF
Gross rent
$269.0K $27.00/SF
− Vacancy
−$48.4K −$4.86/SF
EGI
$220.6K $22.14/SF
− OpEx
−$55.1K −$5.54/SF
NOI
$165.4K $16.61/SF
Area
Worcester, MA
Vacancy
18.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,308,380
Cap Rate 7%
$2,363,129
Cap Rate 9%
$1,837,989
Alternative Uses
Best Use
Office B
$2.36M
$2.07M – $2.76M
NOI $165,419 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.33M
$2.91M – $3.88M
NOI $232,757 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,949
Businesses Nearby
Explore this area
Business Placement
Demographics for 01609, MA
23,870
Population
9,126
Households
2.6
Avg Household Size
29
Median Age
49%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
6,451
Density / Sq Mi
$61,411
Median Household Income
$32,399
Median Earnings
$1,212
Median Rent
$422,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Granite construction, stained glass, fireplaces, and period woodwork distinguish the main building and separate carriage house.
Where is this office building located?
The property is located at 51 Harvard Street Worcester, MA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 1879 construction with granite exterior, slate roof, and round tower; Main building plus a separate historic carriage house; Approximately 0.48‑acre site
