64 Highland Street- | 4 Dean St
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64 Highland Street- 4 Dean St
5,900 SF 100% Leased Flex Building Worcester, MA 01609 $1,980,000 ($336/SF) 10% Cap Rate
Investment Highlights
- HEAVY DAY TIME TRAFFIC COLLEGE CENTRAL WPI -MCPH- WSU-ANNA MARIA COLLEGE-TUFTS-
- HIGHLAND STREET VERY POPULAR STREET IN WORCESTER-CORNER OF MAIN STREET AND PARK AVENUE
- CENTRAL BUSINESS DISTRICT-DOWNTOWN- UNION STATION TRAIN STATION-POLAR PARK- UMASS MEDICAL-COURTHOUSE
Executive Summary
High Revenue Generated Income Property! This Rare Commercial/Residential Mixed Use Property is in the WPI Location and close to WSU, Assumption College, MCPH, (College Central), Courthouse and Union Station-Train Station. All Major Rtes. 290, 190, Rte 20, 146 &122 as well as Worcester Airport operated by Mass Port. A very well maintained 4 unit- the property currently generates $120,792.00 with an additional income available from a finished office space in lower level that is carpeted, HVAC, plastered walls and full tiled bathroom. The Commercial unit is leased by a Dental Office on 64 Highland Street with 3 yrs. remaining on the lease and an option to renew the Dental Office Lease. All 3 apartments are leased (TAW) and have wonderful tenants. Location is on the corner of Highland and Dean Street, Location is everything!!!
Financial Summary (Actual - 2021) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$118,000
|
$20.00
|
| Other Income |
$1,992
|
$0.34
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$119,992
|
$20.34
|
| Taxes |
$7,705
|
$1.31
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$7,705
|
$1.31
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2021)
| Gross Rental Income | |
|---|---|
| Annual | $118,000 |
| Annual Per SF | $20.00 |
| Other Income | |
|---|---|
| Annual | $1,992 |
| Annual Per SF | $0.34 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $119,992 |
| Annual Per SF | $20.34 |
| Taxes | |
|---|---|
| Annual | $7,705 |
| Annual Per SF | $1.31 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $7,705 |
| Annual Per SF | $1.31 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Amenities
- Bio-Tech/ Lab Space
- Commuter Rail
- Signage
- Air Conditioning
Utilities
- Lighting
- Gas - Natural
- Water - City
- Sewer - County
- Heating - Gas
Walk Score ®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | WORC-000002-000043-000142 | Total Assessment | $377,700 (2024) |
| Land Assessment | $87,500 (2024) | Annual Taxes | $7,705 ($1.31/SF) |
| Improvements Assessment | $290,200 (2024) | Tax Year | 2021 |
PROPERTY TAXES
Parcel Number
WORC-000002-000043-000142
Land Assessment
$87,500 (2024)
Improvements Assessment
$290,200 (2024)
Total Assessment
$377,700 (2024)
Annual Taxes
$7,705 ($1.31/SF)
Tax Year
2021
-
Karynsue Marchione-Reilly - Karynsue Realty
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64 Highland Street- | 4 Dean St
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