Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    190 Fremont St Worcester, MA 01603
    Back to Search
    Property profile & analytics

    190 Fremont St Worcester, MA 01603

    View on Map
    • Medical Office Space
    • 7,200 SF
    • 0.41 lot acres
    For Lease
    View Listing →
    Renovated Medical Office Space Available For Lease
    Contact for pricing
    7,200 SF

    Renovated Medical Office Space Available

    7,200 SF medical office space in a renovated building.

    190 Fremont St, Worcester, MA 1603
    View Listing
    Property ID
    US38-0741285
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • BrightView / Medical Clinic
    • Woodward Day School / High School

    Property Details for 190 Fremont St

    Year built
    1960
    Lot size
    0.41 lot acres
    Property size
    7,200 SF
    Property type
    Medical Office Space

    Description

    This exceptional 7,200 square foot medical office building in Worcester, MA, presents a compelling core investment opportunity. Situated on a 0.41-acre lot at 190 Fremont St, this single-tenant, Class C property boasts a long-term lease with a well-established, multi-state healthcare franchisee (Brightview). The building, constructed in 1960 and recently renovated to the tenant's specifications at their expense, is a durable brick/masonry and steel structure. The 3-story building features 20 parking spaces and is fully accessible on the ground and first floors, each equipped with galley kitchenettes and bathrooms. The property benefits from a proven rental history and a lease that includes rent bumps. Zoned BL-1, this investment offers significant long-term stability, enhanced by the tenant's successful track record and the landlord's proactive securing of municipal approvals for Substance Abuse Recovery Treatment. This stand-alone building represents a low-maintenance, high-return investment in a desirable location. The property's strong tenant and lease terms, coupled with its recent renovations, make it an attractive opportunity for discerning investors seeking a stable, cash-flowing asset.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8226248
    Latitude
    42.2433091

    Comparable in this City

    • $875,865

      Mixed-Use Property For Sale

      Mixed-use property with commercial and residential units, investment opportunity.
      585 Park Ave, Worcester, MA 01603
      View Details
    • Contact for pricing
      72,820 SF

      Worcester Office and Industrial Space

      72,820 SF Worcester building with flexible occupancy.
      41 Fremont St, Worcester, MA 01603
      View Details
    • $795,000

      Worcester Commercial Building For Sale

      3,900 SF building in prime Worcester location.
      76 Mill St, Worcester, MA 01603
      View Details
    • Contact for pricing
      3,576 SF

      Fully Occupied Commercial Property

      Commercial property with high visibility and accessibility in a busy corridor.
      1 Ferdinand St, Worcester, MA 01603
      View Details
    • Contact for pricing
      65,922 SF

      Worcester Industrial Building For Sale

      65,000± SF industrial building with annex near major roadways.
      12 Jacques St, Worcester, MA 01603
      View Details

    Similar Nearby for Sale

    • $875,865

      Mixed-Use Property For Sale

      Mixed-use property with commercial and residential units, investment opportunity.
      585 Park Ave, Worcester, MA 01603
      View Details
    • Contact for pricing
      72,820 SF

      Worcester Office and Industrial Space

      72,820 SF Worcester building with flexible occupancy.
      41 Fremont St, Worcester, MA 01603
      View Details
    • $795,000

      Worcester Commercial Building For Sale

      3,900 SF building in prime Worcester location.
      76 Mill St, Worcester, MA 01603
      View Details
    • Contact for pricing
      3,576 SF

      Fully Occupied Commercial Property

      Commercial property with high visibility and accessibility in a busy corridor.
      1 Ferdinand St, Worcester, MA 01603
      View Details
    • Contact for pricing
      65,922 SF

      Worcester Industrial Building For Sale

      65,000± SF industrial building with annex near major roadways.
      12 Jacques St, Worcester, MA 01603
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Space in Worcester

      7,200 SF medical office space available for lease.
      190 Fremont St, Worcester, MA 01603
      View Details
    • Contact for pricing

      Versatile Retail Unit on Park

      Spacious retail unit with office and warehouse space available.
      589 Park Ave, Worcester, MA 01603
      View Details
    • $15 SF/Yr

      Versatile Retail and Office Space

      Spacious commercial unit with retail, office, and warehouse capabilities.
      589 Park Ave, Worcester, MA 01603
      View Details
    • $15 SF/Yr
      24,829 SF

      Versatile Retail and Office Space

      Spacious retail unit with office and warehouse potential in Worcester.
      589 Park Ave, Worcester, MA 01603
      View Details
    • Contact for pricing

      Retail/Office Space or Pad Site

      Up to 6,000 SF retail/office space with drive-thru.
      49 James St, Worcester, MA 01603
      View Details
    View Listing
    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.
    190 Fremont St
    Worcester, MA 01603
    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
    190 Fremont St, Worcester, MA, 01603
    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!