Property profile

42 Lk Ave Worcester, MA 01604

OFF-MARKET
Showrooms
Property ID
US38-1507486
8,186 SF 0.33 ac lot Built 1960
Entity Owned 29-yr Hold ~ Est. High Equity
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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

Current use

Occupant on record · Public records
  • Insurance Agency
  • Marketing & Advertising Advertising Agency

Location

42 Lk Ave Worcester, MA 01604-5816
Worcester metro Census 732201 WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA
Google Maps

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

since 1997
Last sale
$925,000
1 recorded transaction
1997
$355,000

Zoning & alternative use

BL-1 · Worcester, MA
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%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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