Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    89 Shrewsbury St Worcester, MA 01604-4655
    Back to Search
    Property profile & analytics

    89 Shrewsbury St, Worcester, MA 01604-4655

    View on Map
    • Office buildings
    • 25,323 SF
    • 0.26 lot acres
    Off-Market
    Last Sale Feb 20, 2025
    $7,250,000
    Property ID
    US38-0832216
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Via Italian Table / Restaurant
    • Bollus Lynch LLP / Accounting Firm / Tax Preparation
    • King Barbara E CPA / Accounting Firm / Tax Preparation
    • Swanberg Jeffrey C CPA / Accounting Firm / Tax Preparation
    • Worcester Business Development Corporation / Business Service Center

    Property Details for 89 Shrewsbury St

    Year built
    1905
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.26 lot acres
    Zone code
    BG-2
    Property type
    Office buildings
    APN
    WORC M:01 B:042 L:00013
    APU
    WORCM01B042L00013

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 20, 2025 $7,250,000 89 Shrewsbury Street LLC Condron Worcester Rlty Ll Deed $5.4M · Bay State Savings Bank
    Dec 11, 2020 — Condron Worcester Rlty — Deed · related $600k · Mass Dev Fin'l Agcy
    Jul 6, 2011 — Condron Worcester Realty — Deed Of Trust · related $900k · Peoples Bank
    Feb 22, 2005 $300,000 Condron Worc Rlty LLC Worcester City Of Grant Deed —
    — — Condron Worcester Realty — Deed Of Trust · related $400k · Community Dev Commission
    — — Condron Worcester Rlty — Deed Of Trust · related $600k · Mass Dev Fin'l Agcy

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.79
    Latitude
    42.2633
    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
    $91,565
    $409,300
    $2,638,800
    $3,048,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,425 SF

      348 Grafton St

      OFFICE BUILDING
      348 Grafton St, Worcester, MA 01604-3737
      View Details
    • Value Estimation by Request
      2,455 SF

      425 Sunderland Rd

      OFFICE BUILDING
      425 Sunderland Rd, Worcester, MA 01604-2046
      View Details
    • Value Estimation by Request
      2,808 SF

      4 Winter St

      OFFICE BUILDING
      4 Winter St, Worcester, MA 01604
      View Details
    • Value Estimation by Request
      3,528 SF

      1308 Grafton St

      OFFICE BUILDING
      1308 Grafton St, Worcester, MA 01604-2722
      View Details
    • Value Estimation by Request
      1,488 SF

      1250 Grafton St

      OFFICE BUILDING
      1250 Grafton St, Worcester, MA 01604-2621
      View Details
    • Value Estimation
      $925,000
      5,884 SF

      898 Grafton St

      OFFICE BUILDING
      898 Grafton St, Worcester, MA 01604-2054
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Medical Office Condo

      Well-suited for a clinical practice with patient rooms, reception area, and a private bathroom.
      10 Winthrop St, Worcester, MA 01604
      View Details
    • Contact for pricing

      Medical Office Building For Sale

      11,940 SF medical office building in retail corridor.
      267 Shrewsbury St, Worcester, MA 01604
      View Details
    • Contact for pricing

      Versatile Commercial Property in Worcester

      Commercial property with garage doors, loading dock, and investment potential.
      9-R Short St, Worcester, MA 01604
      View Details
    • Contact for pricing
      11,940 SF

      Medical Office Building For Sale

      11,940 Sq. Ft. medical office building in Worcester, MA.
      267 Shrewsbury St, Worcester, MA 01604
      View Details
    • Contact for pricing
      748 SF

      Medical Office Condo Suite

      Office condo with patient rooms, a reception area, and a private bath designed for healthcare practices.
      10 Winthrop St, Worcester, MA 01604
      View Details
    • Contact for pricing
      11,940 SF

      Medical Office Building For Sale

      11,940 Sq. Ft. medical office building in retail corridor.
      267 Shrewsbury St, Worcester, MA 01604
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Specialty Medical Office Building

      Specialty medical office building previously used as a dialysis center, with highway-adjacent access in Worcester.
      267 Shrewsbury St, Worcester, MA 01604
      View Details
    • Contact for pricing
      4,000 SF

      Retail/Office Space For Rent

      Retail and office spaces available in Worcester, Massachusetts.
      490 Shrewsbury St, Worcester, MA 01604
      View Details
    • Contact for pricing

      Prime Retail/Office Space Available

      Divisible retail/office space in Worcester's best location.
      490 Shrewsbury St, Worcester, MA 01604
      View Details
    • Contact for pricing

      Accessible Worcester Location

      Well-positioned property with excellent regional connectivity and secure parking.
      10 East Worcester St, Worcester, MA 01604
      View Details
    • Contact for pricing

      High-Quality Office Space Available

      25,533 SF office space for sublease in Worcester, MA.
      306 Belmont St, Worcester, MA 01604
      View Details
    • Contact for pricing

      Prime Worcester Retail/Office Opportunity

      Located on popular Shrewsbury Street with parking and easy access.
      340 Shrewsbury St, Worcester, MA 01604
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    89 Shrewsbury St
    Worcester, MA 01604-4655
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    89 Shrewsbury St, Worcester, MA, 01604
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!