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Property profile & analytics
OFF-MARKET Estimated value $780,000
Office buildings

8 Norwich St Worcester, MA 01608-2405

7,488 SF 0.09 ac lot Built 1900
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US38-1169364
Property summary
AI-generated overview

This exceptional Worcester, MA, office property at 8 Norwich Street offers two executive suites for lease. The building, a Class B property constructed in 1900, totals 7,488 square feet and features two suites. The first-floor suite comprises approximately 1,100 square feet, ideal for a smaller team, with open space suitable for cubicles, a reception area, and a private office. The second-floor suite offers approximately 3,750 square feet of newly renovated space, boasting 12 private offices, a conference room, and open floor plan. Both suites benefit from high ceilings and abundant natural light. A shared kitchenette is conveniently located on the lower level. The suites can be leased individually or combined for a total of approximately 4,850 square feet of contiguous space. The property is ideally situated in downtown Worcester, within walking distance of City Hall, the DCU Center, federal and district courthouses, and numerous banks, hotels, and restaurants. Its convenient location also offers easy access to major highways, including I-290, I-90, Route 9, and Route 20, ensuring seamless commutes. The property is zoned BG-6. This is a fantastic opportunity for businesses seeking a prestigious and well-located office space in the heart of Worcester. Minimum leasable space is 1,100 square feet, with a maximum contiguous space of 4,844 square feet. The building is located in Worcester County.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1900
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 7,488 SF
Lot 0.09 ac (3,876 SF)
Zoning code BG-6
APN WORC M:02 B:026 L:00027
UPID US38-1169364
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
  • Joffrey Smith Financial Group Financial Advisor
  • Concordia Exchange Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$745k
CAP Approach CAP
by Request
Comparable Approach Comparable
$753k
Blend (final) Blend
$780k
Owner & transaction history
8 Norwich Street LLC · 4 yrs held
8 Norwich Street LLC
since 2022
Last sale
$855,000
6 recorded transactions
2022
$855,000
2022
Price N/A
2003
Price N/A
1999
Price N/A
1996
Price N/A
1996
$215,000
Zoning & alternative use
BG-6 · Worcester, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $1.3M +37.1%
Retail stores $1.1M +17.2%
Neighborhood: shopping center $945,000 +1.2%
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