1149 Grafton St Worcester, MA 01604-2615
- Retail space
- 1,060 SF
- 0.17 lot acres
Jun 01, 2021
Current Use by Public Records
- Retail space
Property Details for 1149 Grafton St
- Year built
- 1900
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.17 lot acres
- Property size
- 1,060 SF
- Zone code
- BL-1
- Property type
- Retail space
- APN
- WORC M:41 B:018 L:09+10
- APU
- WORCM41B018L0910
Description
This 1,100 square foot Class C executive office building, located at 1149 Grafton Street in Worcester, Massachusetts, is available for sale at $395,000. Built in 1900, the property is currently vacant and offers a flexible lease structure (NNN). The building is a standalone structure with a variety of potential uses, including retail, physical therapy, massage therapy, yoga, or general office space. A significant advantage is the inclusion of a roughly 5,000 square foot parking lot, providing ample parking for employees and clients. Its convenient location offers easy access to major roadways such as Route 20 and I-290, as well as the Worcester city center. The property's zoning allows for diverse commercial uses, making it an attractive investment opportunity for a range of businesses. The building's age presents a chance for renovation and customization to suit a buyer's specific needs. This is a rare opportunity to acquire a freestanding commercial property in a desirable Worcester location with ample parking. The property is zoned for a variety of commercial uses, providing flexibility for potential buyers. The asking price reflects the property's potential and prime location within the Worcester market.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $295,000
- ML approach
- $270,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $245,000
- 6.5%
- $225,000
- 7%
- $210,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $227,000
- AI Estimate
- $183,000
Market price range: $85.4k - $244kMarket price range: $72.3k - $184k
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Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.7532
- Latitude
- 42.2407
- CBSA code
- 49340
- CBSA name
- WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA