Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    27-29 Canterbury St Worcester, MA 01610

    • Warehouses
    • 6,204 SF
    • 0.37 lot acres
    For Sale
    View listing
    $950,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 27-29 Canterbury St

    Year built
    1950
    Lot size
    0.37 lot acres
    Property size
    6,204 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This 6,204-square-foot industrial building in Worcester, MA, is available for $950,000. Built in 1950, the property sits on a 0.372-acre lot and is zoned MG-2. Currently vacant, the building features two 3,100-square-foot drive-in bays, each with 14' x 14' overhead doors and impressive 22' clear ceiling heights. Historically used as an autobody and machine shop, this versatile space is ideal for various automotive or industrial uses, including warehouse or distribution. The property boasts ample power (400 amp, 120/208-volt, 3-phase), natural gas, city water, and sewer. Its convenient location in Worcester offers easy access to major transportation routes throughout the greater Worcester area. This presents a unique opportunity to acquire a well-situated industrial property with significant potential. The building's layout and features make it suitable for a range of businesses seeking a functional and spacious workspace. The property's zoning and ample power supply further enhance its appeal to a variety of potential users. Don't miss this chance to own a prime piece of Worcester real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8124
    Latitude
    42.25

    Comparable in this City

    • Value Estimation by Request
      9,415 SF

      1 Congdon St

      WAREHOUSE, STORAGE • 9,415 SF
      1 Congdon St, Worcester, MA 01610-1705
      View Details
    • Value Estimation by Request
      1,344 SF

      20 Bancroft St

      WAREHOUSE, STORAGE • 1,344 SF
      20 Bancroft St, Worcester, MA 01610
      View Details
    • Value Estimation
      $1,650,000
      66,604 SF

      665 Cambridge St

      WAREHOUSE, STORAGE • 66,604 SF
      665 Cambridge St, Worcester, MA 01610-2631
      View Details
    • Value Estimation
      $945,000
      10,292 SF

      39 Mason St

      WAREHOUSE, STORAGE • 10,292 SF
      39 Mason St, Worcester, MA 01610-3203
      View Details
    • Value Estimation by Request
      9,434 SF

      47 Hermon St

      WAREHOUSE, STORAGE • 9,434 SF
      47 Hermon St, Worcester, MA 01610-1519
      View Details
    • Value Estimation by Request
      1,061 SF

      21 Lagrange St

      WAREHOUSE, STORAGE • 1,061 SF
      21 Lagrange St, Worcester, MA 01610
      View Details

    Similar Nearby for Sale

    • $950,000
      6,204 SF

      Worcester Industrial Building

      6,204 SF Warehouse, Vacant, $950K
      27-29 Canterbury St, Worcester, MA 01610
      View Details
    • $1,995,000
      23,545 SF

      Worcester Industrial Building Near I-290

      23,544 SF industrial building with highway access for sale.
      1 Appian Way, Worcester, MA 01610
      View Details
    • $299,900

      Worcester Industrial Redevelopment Opportunity

      1.43-acre industrial property with redevelopment potential near downtown Worcester.
      119 Dewey St, Worcester, MA 01610
      View Details
    • $125,000
      0.09 Acres

      Worcester Commercial Land for Sale

      0.088-acre lot, prime Worcester location.
      31 Canterbury St, Worcester, MA 01610
      View Details
    • $920,000
      6,204 SF

      Industrial Building with Drive-In Doors

      Industrial building suitable for automotive or industrial businesses.
      27-29 Canterbury St, Worcester, MA 01610
      View Details
    • $920,000
      6,204 SF

      Industrial/Automotive Property For Sale

      6,204 SF industrial/automotive property with drive-in doors.
      27 Canterbury St, Worcester, MA 01610
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      17,000 SF

      Warehouse and Powerhouse for Lease

      17,000 SF warehouse and powerhouse with outdoor storage available.
      Worcester, MA 01610
      View Details
    • $7 SF/Yr
      10,000 SF

      Flexible Warehouse Space Available

      5,664 SF warehouse space for lease near Worcester CBD.
      100 Grand St, Worcester, MA 01610
      View Details
    • Contact for pricing
      5,000 SF

      Medical/Office Building Near Hospitals

      Three-story, 15,000 SF medical/office building for lease.
      95 Vernon St, Worcester, MA 01610
      View Details
    • $18 SF/Yr

      Updated Office or Retail Space

      Versatile, updated office/retail space near Polar Park. Move-in ready.
      131 Millbury St, Worcester, MA 01610
      View Details
    • Contact for pricing
      9,000 SF

      Retail Space in Worcester Available

      Retail space for lease in Worcester, available Spring 2023.
      105 Madison St, Worcester, MA 01610
      View Details
    • $8 SF/Yr
      25,000 SF

      Worcester Office Space Near Canal

      Office space near downtown and Canal District with highway access.
      75 Hammond St, Worcester, MA 01610
      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.
    27-29 Canterbury St
    Worcester, MA 01610
    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

    Google sign-in failed. Please try again or use another login method.