22 Richmond Ave Worcester, MA 01602
This expansive 1.02-acre commercial property at 22 Richmond Avenue in Worcester, MA, presents a compelling investment opportunity priced at $2,200,000. Currently configured as an oversized garage, the property is in need of rehabilitation, offering significant upside for the right buyer. Its substantial size and versatile layout allow for a wide range of potential uses. Imagine transforming this space into a modern, efficient warehouse, a secure storage facility catering to local businesses, or even a unique retail space. The quiet neighborhood setting offers a peaceful environment while maintaining convenient access to Worcester's infrastructure. The property's substantial size provides ample room for expansion or creative redevelopment, making it an ideal canvas for entrepreneurs and developers seeking to create a valuable asset tailored to their specific needs. Whether your vision involves optimizing the space for industrial use, developing a specialized venue, or creating a high-demand storage solution, this property offers the flexibility to accommodate diverse commercial requirements. This is a chance to acquire a large, adaptable property in a desirable location with the potential for significant return on investment. The property's current condition necessitates renovation, presenting an opportunity to customize the space to meet precise specifications.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
RS-7 · Worcester, MAWorcester. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.