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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    60 Fremont St Worcester, MA 01603

    • Manufacturing properties
    • 116,670 SF
    • 5.38 lot acres
    For Lease
    View listing
    $4,650,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1728845
    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

    • Dan's Auto Repairs / Auto Repair Shop
    • Abas Accessories / Department Store / Clothing & Fashion Store
    • Worcester City-Sch Department / High School

    Property Details for 60 Fremont St

    Year built
    1910
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.38 lot acres
    Property size
    116,670 SF
    Zone code
    MG-2
    Property type
    Manufacturing properties
    APN
    WORC M:27 B:023 L:00001
    APU
    WORCM27B023L00001

    Description

    This exceptional Worcester, MA property offers 108,688 square feet of flexible and warehouse space, ideal for a variety of businesses. Located at 60 Fremont St, this multi-tenant campus sits on a 5.3-acre lot and boasts a range of space options, with a minimum divisible unit of 10,320 square feet and a maximum contiguous space of 17,611 square feet. Currently, 42,372 square feet is available for lease. The building, originally constructed in 1910 and extensively renovated in 1985, features impressive ceiling heights ranging from 12 to 16 feet, providing ample vertical space. Four loading docks ensure efficient loading and unloading operations. Ample parking is available with 209 spaces, providing a ratio of 1.9 spaces per 1,000 square feet. The property is classified as Office and Industrial, with a Flex and Warehouse subtype, making it suitable for diverse operational needs. Situated in Worcester County, this prime location offers excellent access to transportation and amenities. The property's size and features make it an attractive option for businesses seeking substantial and versatile space in a well-established area. Contact us today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,935,000
      Market price range: $1.94M - $4.90M

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

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.829
    Latitude
    42.2403
    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
    $87,377
    $464,700
    $2,444,000
    $2,908,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,350,000
      35,781 SF

      160 Goddard Memorial Dr

      MANUFACTURING (LIGHT) • 35,781 SF
      160 Goddard Memorial Dr, Worcester, MA 01603-1260
      View Details
    • Value Estimation
      $3,560,000
      40,725 SF

      120 Goddard Memorial Dr

      MANUFACTURING (LIGHT) • 40,725 SF
      120 Goddard Memorial Dr, Worcester, MA 01603-1260
      View Details
    • Value Estimation
      $5,075,000
      57,500 SF

      156 Goddard Memorial Dr

      MANUFACTURING (LIGHT) • 57,500 SF
      156 Goddard Memorial Dr, Worcester, MA 01603-1260
      View Details
    • Value Estimation
      $1,100,000
      45,653 SF

      12 Jacques St

      MANUFACTURING (LIGHT) • 45,653 SF
      12 Jacques St, Worcester, MA 01603-1926
      View Details
    • Value Estimation
      $5,535,000
      64,040 SF

      7 Coppage Dr

      MANUFACTURING (LIGHT) • 64,040 SF
      7 Coppage Dr, Worcester, MA 01603-1252
      View Details
    • Value Estimation
      $3,795,000
      43,144 SF

      10 Coppage Dr

      MANUFACTURING (LIGHT) • 43,144 SF
      10 Coppage Dr, Worcester, MA 01603-1252
      View Details

    Similar Nearby for Sale

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      Worcester Industrial Building For Sale

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      Classic Brick Mill Building

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      Worcester Retail/Flex Building For Sale

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      Warehouse Space with Loading Dock

      3600 SF warehouse space with loading dock for rent.
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      Warehouse Space with Loading Dock

      3600 SF warehouse space with loading dock for rent.
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      Warehouse Space with Loading Dock

      3600 SF warehouse space with loading dock for rent.
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    Similar Nearby for Lease

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      Available Storage Space For Rent

      5,000-sf storage space with loading dock, convenient highway access.
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    • $4,650,000
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      Worcester Industrial Building For Lease

      Industrial building with office space and potential for residential conversion.
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    • Contact for pricing
      3,040 SF

      Worcester Flex Space Available

      Flex space for lease near downtown Worcester.
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    • $15 SF/Yr
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      Versatile Retail Space in Worcester

      Spacious retail unit with office and warehouse potential.
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    • $15 SF/Yr
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      Versatile Retail and Office Space

      Spacious retail unit with office and warehouse potential in Worcester.
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      View Details
    • Contact for pricing

      Industrial Outdoor Storage Land

      5.33 acres of industrial outdoor storage land for rent.
      140 Goddard Memorial Dr, Worcester, MA 01603
      View Details
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    60 Fremont St
    Worcester, MA 01603
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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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