Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    344 Chandler St Worcester, MA 01602
    Property profile & analytics

    344 Chandler St Worcester, MA 01602

    View on Map
    • Warehouses
    • 1,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Salon 27 / Hair Salon / Nail Salon
    • Joey's Bar & Grill / Bar & Pub / Restaurant
    • My Smoke Shop / (Bike/Boat/Book/etc) Store

    Property Details for 344 Chandler St

    Year built
    1930
    Property size
    1,000 SF
    Property type
    Warehouses
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 1,000-square-foot commercial property at 344 Chandler Street in Worcester, Massachusetts, presents a unique opportunity for businesses seeking a versatile and conveniently located space. The single-tenant building, constructed in 1930, sits on a 0.34-acre lot and offers a flexible layout suitable for a variety of uses, including retail, executive office, or warehouse operations. The property is zoned BL-1 and boasts a total of eight parking spaces, ensuring ample convenience for clients and employees. Its prime location on a main road in Worcester provides excellent visibility and accessibility, attracting significant foot traffic and ensuring high customer reach. The building comprises one story and features a total of 1,000 square feet of vacant space, ready for immediate occupancy. The property's location within Worcester County, Massachusetts, places it within a thriving business community, offering a supportive environment for growth and success. The address is 344 Chandler Street, Worcester, MA 01602. This is an excellent opportunity for a small business or entrepreneur seeking a well-situated and functional commercial space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8278
    Latitude
    42.2624

    Comparable in this City

    • Value Estimation
      $835,000
      8,400 SF

      90 May St

      WAREHOUSE, STORAGE • 8,400 SF
      90 May St, Worcester, MA 01602-3423
      View Details
    • Value Estimation by Request
      81,500 SF

      Park Ave & Chandler St

      Individual retail properties • 81,500 SF
      0 Park Ave & Chandler St, Worcester, MA 01602
      View Details
    • Value Estimation by Request
      2,000 SF

      Address Not Disclosed

      Automotive properties • 2,000 SF
      0 Address Not Disclosed, Worcester, MA 01602
      View Details
    • Value Estimation by Request
      1,633 SF

      With Repair Shop Gas Sta

      Retail properties & Spaces • 1,633 SF
      With Repair Shop Gas Sta, Worcester, MA 01602
      View Details
    • Value Estimation by Request
      11,896 SF

      570 Pleasant St

      Retail properties & Spaces • 11,896 SF
      570 Pleasant St, Worcester, MA 01602
      View Details
    • Value Estimation by Request
      11,896 SF

      570 Pleasant St

      Individual retail properties • 11,896 SF
      570 Pleasant St, Worcester, MA 01602
      View Details

    Similar Nearby for Sale

    • $500,000

      Freestanding Building on Chandler Street

      Freestanding building suitable for various service-based businesses.
      376 Chandler St, Worcester, MA 01602
      View Details
    • Contact for pricing
      Pending

      Leased Duplex Investment Opportunity

      Two-unit property fully leased through May and June 2026.
      29 Scenic Dr, Worcester, MA 01602
      View Details
    • Contact for pricing
      4,151 SF

      Worcester West Side Triplex

      Well-maintained 3-family property near Clark University with upside potential.
      121 Winfield St, Worcester, MA 01602
      View Details
    • Contact for pricing
      4,151 SF

      West Side Triplex Near Clark

      Well-maintained 3-family property in Worcester's desirable West Side.
      121 Winfield St, Worcester, MA 01602
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versatile Building Near Worcester Airport

      10,000 SF building suitable for office, medical, or industrial use.
      170 Goddard Memorial Dr, Worcester, MA 01602
      View Details
    • Contact for pricing
      150 SF

      Worcester Office Space For Lease

      Office spaces available in well-maintained Worcester building with parking.
      100 June St, Worcester, MA 01602
      View Details
    • Contact for pricing

      Turnkey Office Unit in Worcester

      Move-in ready office space with private offices and conference area.
      625 Chandler St, Worcester, MA 01602
      View Details
    • Contact for pricing
      800 SF

      Retail Space in Tatnuck Square

      Retail space for lease in well-maintained building with parking.
      1096-1102 Pleasant St, Worcester, MA 01602
      View Details
    • Contact for pricing

      Worcester Office Space For Rent

      Second-floor office suite in Worcester, ready for occupancy.
      625 Chandler St, Worcester, MA 01602
      View Details
    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.
    344 Chandler St
    Worcester, MA 01602
    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
    344 Chandler St, Worcester, MA, 01602
    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!