Standalone Flex
For Sale
$399,000
66 Southgate Street, Worcester, MA 01603
Standalone commercial building with office, storage, and overhead-door functionality under BL-1 zoning.
Property Size3,040 SF
Price / SF$131.25
Days on Market54
Property Features for 66 Southgate Street
General Information
Standard status
Active
Size
3,040 SF
Property subtype
Industrial
Zoning
BL-1
Additional Details
Highway Access
Yes
Building Details
Building Size
3,040 SF
Listing Agency:
Kelleher & Sadowsky
Listed By:
Brian Johnson · License #9536903
(508) 635-6783
Source:
Kelleher-sadowsky
Added: Aug 26
Changed: Oct 11
Last Checked: Oct 16 at 7:31AM
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 standalone flex property contains approximately 3,040 square feet configured with office space, storage areas, and an overhead door. The building previously served as a research and development facility for an environmental testing company, providing a combination of administrative and functional commercial space.
Located at 66 Southgate Street in Worcester, the property is minutes from downtown Worcester and offers access to I-290, Route 146, and the Massachusetts Turnpike. The site is zoned Business Limited BL-1 and is offered for sale.
Located at 66 Southgate Street in Worcester, the property is minutes from downtown Worcester and offers access to I-290, Route 146, and the Massachusetts Turnpike. The site is zoned Business Limited BL-1 and is offered for sale.
Key Highlights
- Approximately 3,040 SF standalone flex building
- Office areas, storage space, and an overhead door
- Former research and development facility for an environmental testing company
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,393
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,860
$707.9K
Cap Rate 7%
$505,614
$505.6K
Cap Rate 9%
$393,256
$393.3K
Market Conditions
NOI Build-Up for 3,040 SF
Gross rent
$54.7K $18.00/SF
− Vacancy
−$4.2K −$1.37/SF
EGI
$50.6K $16.63/SF
− OpEx
−$15.2K −$4.99/SF
NOI
$35.4K $11.64/SF
Area
Worcester, MA
Vacancy
7.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,860
Cap Rate 7%
$505,614
Cap Rate 9%
$393,256
Alternative Uses
Best Use
Flex RnD
$542.4K
$474.6K – $632.8K
NOI $37,969 @ 7.0% cap · market cap 9.52%
Second Best
Industrial
$505.6K
$442.4K – $589.9K
NOI $35,393 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$1.01M
$887.9K – $1.18M
NOI $71,028 @ 7.0% cap · market cap 17.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Standalone commercial building with office, storage, and overhead-door functionality under BL-1 zoning.
Where is this flex space located?
The property is located at 66 Southgate Street Worcester, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Approximately 3,040 SF standalone flex building; Office areas, storage space, and an overhead door; Former research and development facility for an environmental testing company
