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29600425
29603990

415 Main St, Worcester, MA 01608

CM
MA 9585063, RI 0049380
Lornell Real Estate
TL
MA MA
Lornell Real Estate
Listed by Lornell Real Estate
$400,000
474 days on market
Updated 22 days ago
Opportunity zone

415 Main St - 3rd and 4th floor condo units

Details
Property Type Hospitality, Mixed Use (+3)
Sub Type Telecom/Data Center, Traditional Office
Square Footage 27,012
Net Rentable (SqFt) 7,000
Cap Rate 4.5%
NOI $18,000
Occupancy 50%
Tenancy Multi
Lease Term 5
Lease Expiration 04/01/2029
Remaining Term 3
Rent Bumps Yes
Price per SqFt $12
Class B
Acreage 0.120
Zoning BG-6
Investment Type Redevelopment

Office Condos - Flexible Zoning (redevelopment/investment/owner user)

Marketing description

Primed for investors, owner users, and even redevelopers - observe the unbeatable location of one of the most prominent buildings in Worcester, MA at 415 Main Street. We are pleased to offer both the third and fourth floor condo units available for sale. Both units are currently set up as commercial lab/flex space, but could be redeveloped into virtually any use due to the inclusive zoning district of BG-6. BG-6 is inclusive of residential, office, medical, day-care, food service, manufacturing, R&D, etc.

The third floor condo unit (about 3,500 SF) is currently leased to a reputable escape room tenant, at a rate of about $12 PSF gross until 2029. This results in an NOI of about $18,000 and CAP rate of 9%.

The fourth floor condo unit at 415 Main St, Worcester (about 3,500) space features a dedicated in-unit reception area, multiple private offices, conference room space, and open work areas that can be configured to suit a variety of layouts and operational needs. Formerly occupied by a laboratory testing facility, the suite is well-suited for users requiring lab-capable infrastructure or specialized buildout, while remaining easily adaptable for traditional office use. DELIVERED VACANT.

The building is elevator-served and ideally situated in the center of Downtown Worcester, offering excellent visibility, walkability to restaurants, courthouse, public transportation, and major civic and business amenities. This is a rare opportunity to own or lease a highly functional, centrally located office/lab condo in one of Worcester’s most sought-after commercial locations.

Listing Contacts

CM
MA 9585063, RI 0049380
Lornell Real Estate
TL
MA MA
Lornell Real Estate
Listed by Lornell Real Estate

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$18,000.00
$1,500.00/mo

Valuation Metrics

0
DSCR
4.5%
Cap Rate
4.5%
ROI

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Additional Information

Name
Collin Mulcahy
License
9585063
Brokerage Phone
7742303634
Name
Todd Lornell
License
MA
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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