Technical
Financial
Distress signals
Property profile

68 Albany St Worcester, MA 01604

FOR LEASE
Warehouses
Property ID
US38-0609494
31,321 SF 0.95 ac lot Built 1975
Entity Owned 9-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This ±31,175 square foot industrial property, located at 68 Albany Street in Worcester, MA, presents a significant opportunity for manufacturing or warehouse operations. Built in 1975 and situated on a 0.95-acre lot, the single-tenant building boasts a 24-foot ceiling height, ideal for various industrial uses. Two oversized drive-in doors facilitate efficient loading and unloading, complemented by two bridge cranes for enhanced material handling. The property is zoned MG-2 (General Manufacturing) and benefits from excellent access to major transportation arteries, including Routes 20, 146, I-290, and the Massachusetts Turnpike (I-90). Outside fenced storage provides additional space for materials or equipment. The property is currently vacant and the owner is open to negotiating interior improvements, such as new LED lighting, interior painting, and office upgrades, which can be incorporated into the lease terms. This well-maintained facility offers a strategic location and adaptable space for a variety of industrial businesses seeking a presence in Worcester County. The property's size, features, and convenient location make it an attractive option for companies requiring substantial warehouse and/or manufacturing space. Serious inquiries are encouraged to explore this exceptional opportunity.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1975
Construction STEEL FRAME
Total area 31,321 SF
Lot 0.95 ac (41,280 SF)
Zoning code MG-2
APN WORC M:16 B:031 L:00003
UPID US38-0609494

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

68 Albany St Worcester, MA 01604
Worcester metro Census 731801 WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.74M
Blend (final) Blend
$675k

Owner & transaction history

since 2017
7 recorded transactions
2021
Price N/A
2017
$1.0M
2005
Price N/A
1999
Price N/A
1995
Price N/A
1994
$542,015
1992
Price N/A

Zoning & alternative use

MG-2 · Worcester, MA
Top alternative use upside
Neighborhood: shopping center $4.0M +25.8%
Office building $3.9M +24.3%
Apartment house (5+ units) $3.8M +19.6%

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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