8 Norwich St Worcester, MA 01608
- Office buildings
- 7,488 SF
- 0.09 lot acres
Current Use by Public Records
- Joffrey Smith Financial Group / Financial Planner
- Concordia Exchange / Insurance Agency
Property Details for 8 Norwich St
- Year built
- 1900
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.09 lot acres
- Property size
- 7,488 SF
- Zone code
- BG-6
- Property type
- Office buildings
- APN
- WORC M:02 B:026 L:00027
- APU
- WORCM02B026L00027
Description
This exceptional Worcester, MA, office property at 8 Norwich Street offers two executive suites for lease. The building, a Class B property constructed in 1900, totals 7,488 square feet and features two suites. The first-floor suite comprises approximately 1,100 square feet, ideal for a smaller team, with open space suitable for cubicles, a reception area, and a private office. The second-floor suite offers approximately 3,750 square feet of newly renovated space, boasting 12 private offices, a conference room, and open floor plan. Both suites benefit from high ceilings and abundant natural light. A shared kitchenette is conveniently located on the lower level. The suites can be leased individually or combined for a total of approximately 4,850 square feet of contiguous space. The property is ideally situated in downtown Worcester, within walking distance of City Hall, the DCU Center, federal and district courthouses, and numerous banks, hotels, and restaurants. Its convenient location also offers easy access to major highways, including I-290, I-90, Route 9, and Route 20, ensuring seamless commutes. The property is zoned BG-6. This is a fantastic opportunity for businesses seeking a prestigious and well-located office space in the heart of Worcester. Minimum leasable space is 1,100 square feet, with a maximum contiguous space of 4,844 square feet. The building is located in Worcester County.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $700,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $955,000
- 6.5%
- $835,000
- 7%
- $885,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $760,000
- Geo Method
- $775,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $870,000
- Retail
- $785,000
- Mixed-Use
- $1,015,000
- Hospitality
- $1,040,000
- Educational
- $925,000
- Residential Income
- $965,000
- Energy
- $955,000
- Income-Based Land
- $1,020,000
- Food Service
- $850,000
Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.801
- Latitude
- 42.2644
- CBSA code
- 49340
- CBSA name
- WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA