Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3 Mcavey Way Worcester, MA 01604-2738

    • Warehouses
    • 9,580 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    $870,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0867737
    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.

    Current Use by Public Records

    • PriscylaCunhaphotography / Photography Service / (Bike/Boat/Book/etc) Store

    Property Details for 3 Mcavey Way

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.48 lot acres
    Property size
    9,580 SF
    Zone code
    ML-.5
    Property type
    Warehouses
    APN
    WORC M:41 B:027 L:61+62
    APU
    WORCM41B027L6162

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $863,000
      Market price range: $437k - $1.55M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $960,000
      Current use
      RETAIL STORES
      $1,400,000
      Change: +46% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,210,000
      Change: +26% Conversion: Moderate
      OFFICE BUILDING
      $1,195,000
      Change: +24% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,150,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,060,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7467
    Latitude
    42.2355
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $12,443
    $68,000
    $346,200
    $414,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,580,000
      45,342 SF

      24 Jolma Rd

      WAREHOUSE, STORAGE • 45,342 SF
      24 Jolma Rd, Worcester, MA 01604-2010
      View Details
    • Value Estimation
      $7,850,000
      73,824 SF

      210 Cutoff

      WAREHOUSE, STORAGE • 73,824 SF
      210 Cutoff, Worcester, MA 01604-2712
      View Details
    • Value Estimation
      $1,440,000
      12,600 SF

      331 Cutoff

      WAREHOUSE, STORAGE • 12,600 SF
      331 Cutoff, Worcester, MA 01604-2713
      View Details
    • Value Estimation
      $1,450,000
      14,247 SF

      8 Nebraska St

      WAREHOUSE, STORAGE • 14,247 SF
      8 Nebraska St, Worcester, MA 01604-3637
      View Details
    • Value Estimation
      $1,285,000
      13,625 SF

      206 Summer St

      WAREHOUSE, STORAGE • 13,625 SF
      206 Summer St, Worcester, MA 01604
      View Details
    • Value Estimation by Request
      7,558 SF

      38 Arctic St

      WAREHOUSE, STORAGE • 7,558 SF
      38 Arctic St, Worcester, MA 01604
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,572 SF

      Versatile Flex/Industrial Building For Sale

      9,572 SF flex/industrial building in a strategic Worcester location.
      19 Wells St, Worcester, MA 01604
      View Details
    • $900,000

      Visible Office/Retail/Flex Property

      Highly visible property with flexible zoning and strong traffic counts.
      636 1St St, Worcester, MA 01604
      View Details
    • $699,900
      2,854 SF

      Renovated Multi-Family in Worcester

      Completely renovated multi-family property with in-unit laundry hookups.
      256 Belmont St, Worcester, MA 01604
      View Details
    • $749,000
      4 SF

      Grafton Street Commercial Land Parcel

      4.5-acre commercial land parcel on heavily travelled Grafton Street.
      1059 Grafton St, Worcester, MA 01604
      View Details
    • Contact for pricing

      Turn-Key Worcester Three-Family Property

      Well-maintained three-family property with updates and income potential.
      3 Bowker St, Worcester, MA 01604
      View Details
    • $4,200,000

      Medical Office Building For Sale

      11,940 SF medical office building in retail corridor.
      267 Shrewsbury St, Worcester, MA 01604
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,500 SF

      Worcester Warehouse and Office Space

      21,000 SF warehouse with 3,480 SF office space.
      72 Shrewsbury St, Worcester, MA 01604
      View Details
    • Contact for pricing
      871 SF

      Worcester Public Market Retail Space

      Retail space with full kitchen and bar in Worcester Market.
      152 Green St, Worcester, MA 01604
      View Details
    • $35 SF/Yr
      113,926 SF

      Corner Retail Space Overlooking Polar Park

      2,000 SF retail space in vibrant Canal District development.
      89 Green St, Worcester, MA 01604
      View Details
    • $1.00 SF/Yr

      One Acre Contractor Land

      One acre of land suitable for parking or storage.
      9 Casco St, Worcester, MA 01604
      View Details
    • Contact for pricing

      Prime Worcester Commercial Space Available

      14,000 sq ft corner lot ideal for various uses.
      333 Shrewsbury St, Worcester, MA 01604
      View Details
    • Contact for pricing
      24,768 SF

      Shrewsbury Street Marketplace: Retail Spaces

      Worcester, MA: prime retail/restaurant space.
      225 Shrewsbury St, Worcester, MA 01604
      View Details
    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.
    3 Mcavey Way
    Worcester, MA 01604-2738
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!