Historic Office
For Sale
Contact for pricing
76 Mill St, Worcester, MA 01603
A 3,900 SF office building built in 1935, zoned RL-7, offering versatile commercial use potential.
Property Size3,900 SF
Price / SF$203.85
Days on Market185
Property Features for 76 Mill St
General Information
Standard status
Active
Size
3,900 SF
Property subtype
OFFICE
Zoning
RL-7
Building Details
Year Built
1935
Listing Agency:
NAI Glickman Kovago & Jacobs
(508) 847-2377
Listed By:
David Burwick · License #9061441
Source:
Moodyscre
Added: Jan 28
Changed: Jul 25
Last Checked: Aug 1 at 5:50AM
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 NAI Glickman Kovago & Jacobs
Investment Insights
Based on property information with market context.
This historic office building is 3,900 square feet and was constructed in 1935. The property has been maintained since its construction and is presented as a versatile asset for office or office-building related use, subject to the applicable zoning and regulations.
The building is zoned RL-7 and is located at 76 Mill St in Worcester, Massachusetts. The offering emphasizes convenient access for both clients and employees.
For investors and owner-users seeking an established structure with enduring character, this property provides a long-standing commercial building configuration within the RL-7 zoning framework.
The building is zoned RL-7 and is located at 76 Mill St in Worcester, Massachusetts. The offering emphasizes convenient access for both clients and employees.
For investors and owner-users seeking an established structure with enduring character, this property provides a long-standing commercial building configuration within the RL-7 zoning framework.
Key Highlights
- 3,900 SF building
- Built in 1935
- Zoned RL‑7
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.3k | $27.00 |
| − Vacancy | −$19.0k | −$4.86 |
| EGI | $86.3k | $22.14 |
| − OpEx | −$21.6k | −$5.54 |
| NOI | $64.8k | $16.61 |
3,900 SF · lease $27.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$925.1K
$809.5K – $1.08M
NOI $64,760 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,121 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - A 3,900 SF office building built in 1935, zoned RL-7, offering versatile commercial use potential.
Where is this office building located?
The property is located at 76 Mill St Worcester, MA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 3,900 SF building; Built in 1935; Zoned RL‑7
