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    Property profile & analytics

    39 Salisbury St Worcester, MA 01609

    • Office Properties & Spaces
    • 897 SF
    • 0.06 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    6.5%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US38-0157267
    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

    • Philip Soloperto Law Offices / Attorney
    • Simonian & Murray / Attorney / Real Estate Attorney
    • Diversified Staffing Group Inc / Nursing Agency
    • Ms. Deborah Ekstrom / Plastic Surgeon / Practitioner Service Location
    • Michelle Rex, Cota / Occupational Therapist

    Property Details for 39 Salisbury St

    Year built
    1900
    Lot size
    0.06 lot acres
    Property size
    897 SF
    Zone code
    BG-6
    Property type
    Office Properties & Spaces
    APN
    WORC M:02 B:036 L:00100
    APU
    WORCM02B036L00100

    Description

    This exceptional offering presents two executive office condo units totaling 2,571 to 4,400 square feet, situated in a prime Worcester location at 39 Salisbury Street. The property, formerly the Worcester History Museum, benefits from its strategic position at the intersection of Interstates 290, 190, and Route 9, placing it at the gateway to the city's commercial business district and boasting an average daily traffic count exceeding 32,000 vehicles. Built in 1900 and extensively renovated in 1985 (with further improvements five years prior to listing), the building features a Class B designation and sits on a 0.89-acre lot. The units, along with common areas, have undergone significant upgrades, including roof, HVAC systems, and common area finishes. Ample on-site parking is available across two attached surface lots. The BG-6 zoning permits a variety of professional office uses, making these units ideal for businesses such as law firms, accounting practices, insurance agencies, architectural firms, or mortgage brokers. This presents a compelling investment opportunity with high-cap rate potential through market-rate leasing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $265,000
      6.5%
      $245,000
      7%
      $225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $152,000
      Market price range: $73.4k - $168k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $155,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8009
    Latitude
    42.273
    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
    $3,854
    $0.00
    $128,300
    $128,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $260,000
      978 SF

      111 Elm St Ste, Unit 101

      CONDOMINIUM OFFICES • 978 SF
      111 Elm St Ste, Worcester, MA 01609-1967
      View Details
    • Value Estimation
      $255,000
      1,733 SF

      111 Elm St Ste, Unit 201

      CONDOMINIUM OFFICES • 1,733 SF
      111 Elm St Ste, Worcester, MA 01609-1967
      View Details
    • Value Estimation
      $285,000
      3,749 SF

      39 Salisbury St, Unit 200

      CONDOMINIUM OFFICES • 3,749 SF
      39 Salisbury St, Worcester, MA 01609-3160
      View Details
    • Value Estimation by Request
      26,117 SF

      43 Harvard St

      Coworking space • 26,117 SF
      43 Harvard St, Worcester, MA 01609
      View Details
    • Value Estimation by Request
      10,879 SF

      475 Pleasant St

      Medical offices • 10,879 SF
      475 Pleasant St, Worcester, MA 01609
      View Details
    • Value Estimation by Request
      10,931 SF

      222-228 Park Avenue Pl

      Multifamily properties • 10,931 SF
      222-228 Park Avenue Pl, Worcester, MA 01609
      View Details

    Similar Nearby for Sale

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    • Contact for pricing
      4,400 SF

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      Two office condo units suitable for professional office users.
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    Similar Nearby for Lease

    • $2,999 /Mo

      Pleasant Street Retail/Office Space

      Highly visible, flexible retail/office space in Worcester corridor.
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    • $800 /Mo
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      Customizable office space in downtown Worcester with ample parking.
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    • $17 SF/Yr
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      Worcester Office Space Available

      Modern office suites, coworking spaces.
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      View Details
    • $750 /Mo

      Professional Shared Office Facility

      Shared office facility with included amenities and flexible lease terms.
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      View Details
    • Contact for pricing
      2,106 SF

      Worcester Office Space For Rent

      Attractive office space near courthouse, convenient location off I-290.
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    • $2,495,000
      8,232 SF

      Professional Building with Apartments

      Three-story building suitable for medical, dental, or office use.
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      View Details
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    39 Salisbury St
    Worcester, MA 01609
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    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
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