Building Details

Building Size 3,630 SF

Year Built 1900

Stories 3

Units 3

Listed By: Glenn Damato Show Phone

Source: Elliman

Added: Oct 16 Last Checked: Oct 16 at 1:56PM

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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 Glenn Damato

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Investment Insights

Based on property information with market context.

Built in 1900, this Worcester triplex contains three similarly arranged apartments, each with five rooms and three bedrooms. The first-floor unit is vacant and recently updated; the second- and third-floor apartments have tenants at will and no leases. Gas heat and separate utility meters serve the units, with tenants responsible for their own utilities. Roof and siding updates are among the property improvements.

Crompton Park, recently renovated, is across the street, and Polar Park is within walking distance. Shopping, public transportation, and access to Routes 146, 290, and 122A are also noted nearby.

Key Highlights

• Three apartments, each with 5 rooms and 3 bedrooms
• First‑floor apartment is vacant and recently updated
• Upper‑floor units are occupied by tenants at will with no leases

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,308

Cap Rate

8.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,066,160 $1.1M

Cap Rate 7%

$761,543 $761.5K

Cap Rate 9%

$592,311 $592.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,630 SF

Gross rent

$80.6K $22.20/SF

− Vacancy

−$4.4K −$1.22/SF

EGI

$76.2K $20.98/SF

− OpEx

−$22.8K −$6.29/SF

NOI

$53.3K $14.69/SF

Area

Worcester, MA

Vacancy

5.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,066,160

Cap Rate 7%

$761,543

Cap Rate 9%

$592,311

Alternative Uses

Best Use

Multifamily LT 5

$761.5K

$666.4K – $888.5K (±1% cap)

NOI $53,308 @ 7.0% cap · market cap 8.08%

Second Best

Apartment 5plus

$699.1K

$611.7K – $815.6K (±1% cap)

NOI $48,934 @ 7.0% cap · market cap 7.42%

Theoretical Best

Office A

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,813 @ 7.0% cap · market cap 12.85%

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

Property Analytics

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Current Use

Triplexes

Suggested Use

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

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

Lease Details

3

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,933

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

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - A vacant, updated first-floor apartment offers immediate occupancy within a three-family property.

Where is this triplex located?

The property is located at 55 Endicott Worcester, MA.

What is the asking price?

The asking price for this property is $659,900.

What are key features of this property?

This property features: Three apartments, each with 5 rooms and 3 bedrooms; First‑floor apartment is vacant and recently updated; Upper‑floor units are occupied by tenants at will with no leases