Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Worcester Corner Storefront Title is generated by Realmo AI

    56 Franklin Street Worcester MA, Worcester, MA 01608

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Highly visible 2,500 SF corner storefront in thriving downtown location.

    Type:Retail, Restaurant
    Property size:
    2,500 SF
    Added:
    Jan 8, 2026
    Days on Market:
    126
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 56 Franklin Street Worcester MA

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Property subtype
    Retail, Restaurant

    Spaces For Lease

    at 56 Franklin Street Worcester MA Contact us

    $25 /Mo

    Size
    2,500 SF
    Type
    Retail, Restaurant
    Contact us

    We can help!

    Listing Contact
    Alissa Charles

    Listing agent Alissa Charles License #9534381

    Listing office Centre Realty Group

    Listing date Jan 8, 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 Centre Realty Group

    HighLights

    • Highly visible 2,500 SF corner storefront in Downtown Worcester overlooking Worcester Common.
    • Strong foot traffic and proximity to newly built apartments and ongoing development.
    • Wraparound windows providing excellent natural light and exposure.
    • Approximately 600 SF of basement storage.
    • Existing built‑in counter and rear kitchen area with walk‑in cooler.
    • Located in an Opportunity Zone and HUBZone.

    Overview

    Located at 56 Franklin Street in Downtown Worcester, this available storefront property offers 2,500 square feet of space. The street-level space features wraparound windows that provide natural light and exposure. An additional 600 square feet of basement storage is included. The property is situated on a corner with high visibility, overlooking Worcester Common. The location benefits from strong foot traffic, newly built apartments, and ongoing development, contributing to a growing customer base. The existing layout includes a built-in counter and a rear kitchen area with a walk-in cooler. The property is located in an Opportunity Zone and a HUBZone. It is suitable for various business uses that do not require a commercial hood, as there is no hood in place; coffee shop use is not permitted.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Brew on the Grid Cafe & Coffee Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Central Market Florist — 221-223 Park Ave, Worcester, MA 01609
    • Beebe Florist | Flower Delivery Worcester MA — 24 Franklin St, Worcester, MA 01608
    • The Sage Bouquet — 51 Union St, Worcester, MA 01608
    • Flowers By Rosa Isabel — Worcester, MA 01608

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8010462
    Latitude
    42.2613225

    Nearby Similar for Lease

    • $2,200/Mo

      Worcester Medical Office Space Available

      Centrally located medical office with ample parking and elevator access.
      10 Winthrop St., Worcester, MA 01610
      View Details
    • $15 SF/Yr

      Versatile Retail and Office Space

      Spacious retail unit with office and warehouse potential in Worcester.
      589 Park Ave, Worcester, MA 01603
      View Details
    • $800/Mo

      Downtown Worcester Office Space

      Customizable office space in downtown Worcester with ample parking.
      11 Pleasant Street, Worcester, MA 01609
      View Details
    • Contact for pricing

      Functional Garage Space in Worcester

      2,400 SF garage with drive-in bays near major routes.
      142 W Boylston Dr, Worcester, MA 01606
      View Details
    • $2,000/Mo

      Vacant Salon & Barber Shop

      Salon & barber shop in densely populated retail area.
      438 Park Ave 1, Worcester, MA 01610
      View Details
    • $2,000/Mo

      Vacant Salon & Barber Shop

      Salon & barber shop space available for rent.
      438 Park Avenue #1, Worcester, MA 01610
      View Details
    • Contact for pricing

      Downtown Worcester Office Space

      Customizable office space in downtown Worcester with parking.
      11 Pleasant Street, Worcester, MA 01609
      View Details
    • Contact for pricing

      Versatile Retail and Office Space

      Spacious commercial unit with retail, office, and warehouse capabilities.
      589 Park Ave #D, Worcester, MA 01603
      View Details
    • $800/Mo

      Medical Office Space For Lease

      Lease office space within established medical practice in Worcester.
      111 Elm St 201, Worcester, MA 01609
      View Details
    • Contact for pricing

      Garage with Optional Office/Retail Space

      Garage space with optional office and retail space for rent.
      30 Millbury St G1, Worcester, MA 01610
      View Details
    • $2,000/Mo

      Storefront Property with Spacious Interior

      Retail property with new floors and ceilings, ideal for business.
      488 Grafton St, Worcester, MA 01604
      View Details
    • $3,500/Mo

      Turnkey Office Unit in Worcester

      Move-in ready office space with private offices and conference area.
      625 Chandler St 2, Worcester, MA 01602
      View Details

    FAQs

    What type of property is this?
    Storefront property - Highly visible 2,500 SF corner storefront in thriving downtown location.
    Where is this storefront property located?
    The property is located at 56 Franklin Street Worcester MA Worcester, MA.
    What are key features of this property?
    This property features: Highly visible 2,500 SF corner storefront in Downtown Worcester overlooking Worcester Common.; Strong foot traffic and proximity to newly built apartments and ongoing development.; Wraparound windows providing excellent natural light and exposure.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Alissa Charles
    Real Estate License ID: 9534381
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    56 Franklin Street Worcester MA, Worcester, MA 01608
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!