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    Crescent St Worcester, MA 01605

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    Crescent St Worcester, MA 01605

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    • Warehouses

    Property Details for 0 Crescent St

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional industrial complex, located at 40 Crescent Street in Worcester, Massachusetts, offers approximately 251,202 square feet of versatile space ideal for manufacturing, warehousing, and distribution operations. The property features high-bay ceilings with clear heights ranging from 15 to 50 feet, providing ample room for various industrial uses. Situated on a substantial 21-acre lot, the property offers extensive parking and outdoor storage capabilities. Its strategic location provides exceptional accessibility, with convenient proximity to major transportation arteries. Specifically, the property is adjacent to and visible from I-290, offering easy access to I-90, I-190, I-495, and Routes 146, 9, and 20. This combination of size, features, and location makes this property an attractive opportunity for businesses seeking a significant industrial footprint in the Worcester area. The property's address is 40 Crescent Street, Worcester, MA 01605.

    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
    -71.7966
    Latitude
    42.2797

    Comparable in this City

    • Value Estimation by Request
      251,202 SF

      40-88 Crescent St

      Distribution properties • 251,202 SF
      40-88 Crescent St, Worcester, MA 01605
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    • Value Estimation
      $875,000
      14,070 SF

      55 Cres St

      WAREHOUSE, STORAGE • 14,070 SF
      55 Cres St, Worcester, MA 01605-2406
      View Details
    • Value Estimation by Request
      2,820 SF

      53 Harlow St

      WAREHOUSE, STORAGE • 2,820 SF
      53 Harlow St, Worcester, MA 01605
      View Details
    • Value Estimation
      $3,125,000
      134,620 SF

      38 Harlow St

      WAREHOUSE, STORAGE • 134,620 SF
      38 Harlow St, Worcester, MA 01605-3350
      View Details
    • Value Estimation
      $745,000
      38,531 SF

      35th New St

      WAREHOUSE, STORAGE • 38,531 SF
      35th New St, Worcester, MA 01605-3324
      View Details
    • Value Estimation
      $13,265,000
      139,379 SF

      640 Lincoln St

      WAREHOUSE, STORAGE • 139,379 SF
      640 Lincoln St, Worcester, MA 01605-2058
      View Details

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    Similar Nearby for Lease

    • $12 SF/Yr

      Versatile Industrial Space in Worcester

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      Worcester Industrial Complex for Lease

      252,202 SF high bay warehouse/manufacturing space for lease.
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      Industrial Unit with Highway Access

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      Worcester Retail/Office/Warehouse Space Available

      8,000 SF space suitable for office, retail, or warehouse.
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      Worcester Industrial Condo For Lease

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    Worcester, MA 01605
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    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
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    Crescent St, Worcester, MA, 01605

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