267 Shrewsbury St Worcester, MA 01604

Property Details for 267 Shrewsbury St

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.46 lot acres

Property size

11,940 SF

Zone code

MG-2

Property type

Showrooms

APN

WORC M:16 B:030 L:00001

APU

WORCM16B030L00001

Description

This exceptional 11,940 square foot medical office building in Worcester, MA, presents a compelling investment opportunity. Priced at $4,400,000, it boasts a strong 6.62% cap rate, secured by a long-term lease. The property sits on a 0.46-acre lot in a highly attractive retail corridor. The lease agreement is a 15-year contract with approximately 8 years remaining, providing significant lease stability. Crucially, the lease includes a corporate guarantee from DaVita Inc., a company with $17 billion in assets and an S&P rating of "BB". This robust guarantee significantly mitigates investment risk. Further enhancing the investment's appeal are the built-in rental increases of 10% every five years, ensuring consistent growth in rental income. This property offers a rare combination of secure, long-term income, substantial corporate backing, and built-in appreciation potential, making it an ideal addition to any diversified investment portfolio. The prime location within a thriving retail area adds further value, promising strong future prospects. This is a turnkey investment opportunity with minimal management requirements and substantial upside potential. The property's strong fundamentals and secure lease make it an attractive option for discerning investors seeking stable, high-yield returns.

Location Insight

City

Worcester

County

Worcester

State

Massachusetts

Longitude

-71.781

Latitude

42.2678

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments