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    Property profile & analytics
    OFF-MARKET Estimated value $710,000
    Showrooms

    42 Lk Ave, Worcester, MA 01604-5816

    8,186 SF 0.33 ac lot Built 1960
    Entity Owned 29-yr Hold ~ Est. High Equity
    Property ID
    US38-1507486
    Property summary
    AI-generated overview

    This three-story, 8,168 square foot traditional office building at 42 Lake Ave, Worcester, MA 01604, is offered for sale at $975,000. Built in 1960, the property sits on a 0.33-acre lot and is zoned BL-1. Currently housing two tenants on at-will leases, this presents a compelling opportunity for owner-occupancy or value-add investment. The building features 28 off-street parking spaces and enjoys a highly desirable location near major roadways including Route 9, Route 20, I-290, and I-190, providing easy access to the region's transportation network. Its proximity to UMass Memorial Medical Center's University Campus and UMass Chan Medical School, along with nearby amenities such as restaurants, banks, and shopping centers at Shrewsbury Street, White City Plaza, Lakeway Commons, and Quinsigamond Plaza, further enhances its appeal. This property offers a unique blend of convenience, accessibility, and potential for significant return on investment. The building's multi-tenant occupancy provides immediate cash flow, while the at-will leases offer flexibility for future development and repositioning. This is an exceptional opportunity to acquire a well-located office building in a thriving market.

    Property profile
    Verified
    Property type Showrooms
    Use group SHOW ROOM, WAREHOUSE
    Year built 1960
    Construction STEEL FRAME
    Total area 8,186 SF
    Lot 0.33 ac (14,373 SF)
    Zoning code BL-1
    APN WORC M:17 B:012 L:36+37
    UPID US38-1507486
    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
    • Royal Insurance Insurance Agency
    • Surabian Advertising Inc Marketing & Advertising Advertising Agency
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $812k
    Blend (final) Blend
    $710k
    Owner & transaction history
    416 Belmont Realty INC · 29 yrs held
    416 Belmont Realty INC
    since 1997
    Last sale
    $925,000
    1 recorded transaction
    1997
    $355,000
    Zoning & alternative use
    BL-1 · Worcester, MA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Neighborhood: shopping center $1.0M +13.9%
    Office building $1.0M +12.5%
    Apartment house (5+ units) $980,000 +8.3%
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