14 Putnam Ln Worcester, MA 01604-3660
- Showrooms
- 7,806 SF
- 0.93 lot acres
Current Use by Public Records
- Ricciardi Bros Inc. / Demolition Contractor / Snow Removal Service
Property Details for 14 Putnam Ln
- Year built
- 1965
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.93 lot acres
- Property size
- 7,806 SF
- Zone code
- MG-2
- Property type
- Showrooms
- APN
- WORC M:16 B:029 L:00011
- APU
- WORCM16B029L00011
Description
This exceptional 1.5-acre industrial property in Worcester, Massachusetts, presents a unique redevelopment opportunity. Located at 14 Putnam Ln, 01604, this site boasts a 13,500 square foot flex space building, built in 1965, featuring 12 loading docks and 11 dock-high doors. The building offers ceiling heights ranging from 12 to 18 feet, providing ample versatility for various uses. The asking price is $2,500,000, translating to $185.19 per square foot. Its prime location on Shrewsbury Street, Worcester's main dining destination, offers unparalleled walkability to Union Station and numerous restaurants. The site's zoning and potential allow for the development of approximately ninety residential units, based on comparable projects in the area. This makes it an attractive investment for developers seeking a high-amenity location within a thriving 200,000-person city. The existing flex space is suitable for a brewery, creative office, or maker space, offering immediate income potential while redevelopment plans are underway. This property represents a rare blend of immediate usability and significant long-term development potential in a highly desirable urban setting.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,010,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,085,000
- 6.5%
- $1,135,000
- 7%
- $1,130,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,015,000
- Geo Method
- $875,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $945,000
- Retail
- $945,000
- Mixed-Use
- $1,010,000
- Hospitality
- $965,000
- Educational
- $910,000
- Residential Income
- $1,120,000
- Energy
- $925,000
- Income-Based Land
- $910,000
- Food Service
- $835,000
Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.7785
- Latitude
- 42.2681
- CBSA code
- 49340
- CBSA name
- WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA
