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Property profile & analytics
FOR LEASE
Office buildings

306 Belmont St Worcester, MA 01604

81,732 SF 4.65 ac lot Built 1940
Entity Owned 9-yr Hold ~ Est. High Equity
Property ID
US38-0508270
Property summary
AI-generated overview

This exceptional Class A executive office space, totaling 25,533 square feet, is immediately available for sublease at 306 Belmont Street in Worcester, Massachusetts. Previously occupied by UMass Memorial Health, the space is in excellent condition and features a desirable layout including private offices, open work areas, training rooms, and multiple conference rooms. The sublease may include some existing furniture. The building boasts 78,916 total square feet and offers 260 surface parking spaces. Situated on Route 9, with convenient access to I-290, this location provides easy access to local amenities, colleges, and surrounding communities. The property benefits from a highly desirable location directly across from UMass Memorial Health's University Campus and Abbvie Inc.'s Bio-research center, and is adjacent to the new biotech park, The Reactory. This presents a unique opportunity to establish your business within Worcester's thriving life sciences and biotech sector. The property is zoned ML-10 and was built in 1940. The available space ranges from 11,996 to 25,533 square feet, offering flexibility for various business needs. This is a multi-tenant building. Don't miss the chance to secure this prime office space in a rapidly growing area.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1940
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 81,732 SF
Lot 4.65 ac (202,554 SF)
Zoning code ML10
APN WORC M:17 B:027 L:00001
UPID US38-0508270
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Magit David P MD Physician
  • UMass Memorial Health Ventures, Inc. - Corporate Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$12.56M
Blend (final) Blend
$11.36M
Owner & transaction history
306 Belmont Street LLC · 9 yrs held
306 Belmont Street LLC
since 2016
7 recorded transactions
2016
$17.6M
2004
$13.9M
2004
$1
2003
Price N/A
2001
Price N/A
2001
Price N/A
1999
Price N/A
Zoning & alternative use
ML10 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $17.0M +66.8%
Auto repair, garage $14.0M +37.1%
Retail stores $11.9M +17.2%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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