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90-84-91 Lamartine St

44,000 SF Industrial Building Worcester, MA 01608 $3,900,000 ($89/SF)

Investment Highlights

  • New apartments

Executive Summary

Worcester is the second-largest city in Massachusetts. Interstate 290, Route 146, Interstate 90, and Route 9 make it an easy drive to Connecticut, the Greater Boston Metropolitan Area, and Rhode Island.
The property is located within blocks of Union Station, Central Massachusetts’s largest
regional transportation hub serves the surrounding Boston and New York communities via the MBTA commuter rail, Lake Shore Amtrak line, and bus station, which serve local routes.
The Citi of Worcester is in a renaissance with state and federal support.
The building at 90 Lamartine Street and two adjacent lots (84 and 91 Lamartine Street) nearby constructed Polar Park. This baseball complex is the home of the Worcester Red Sox, the triple-A level affiliate of the Boston Red Sox. The stadium is part of the $240 million redevelopment of Worcester's Kelley Square and Canal District.
Nearby is the new Conventional Center, Worcester Ice Center, home of Worcester Railer, and Ice Ring for public skating and curling.
Worcester City is home to twelve Colleges, including the College of the Holy Cross, the University of Massachusetts Medical School, St. Vincent Hospital, and U Mass Memorial Medical Center.
The properties are in the opportunity zone.
At the Citi of Worcester Planning Board meeting on August 17, 2022, The Board approved the request for Special Permits to allow a multi-family use in A R O D and modify the parking layout and dimensional requirements for off-street parking and loading AROD.
All architectural and engineering work was submitted to the building department and approved. Permits for contraction were granted.
Building construction class as follows:
C-Masonry/concrete exterior walls, wood/steel roof, and floor structure ext.
Concrete slab on grade.
Construction components are in working condition and adequate for the building.
In 2023, renovation work started.
The following work was done:
New roof.
New Elevator with new shaft.
New water, sewer, and sprinkler lines were brought to the building.
One hundred forty new windows were installed.
Two new staircases were installed.
Model apartment #3L was completed.
Eleven apartments on the second and third floors were left rough (to finish, need paint and floor work).
Fourteen apartments on the second and third floors, studs and braces installed.
Plumbing was done on the 2nd and 3rd floors except for the water heaters.
The working industrial sprinkler system was partially converted into residential.
The ceiling and walls were sandblasted.
Environmental study one was done.

Attachments

90 brochure

Property Facts

Price $3,900,000
Price Per SF $89
Sale Type Investment or Owner User
Property Type Industrial
Property Subtype Warehouse
Building Class C
Lot Size 0.46 AC
Construction Status Under Renovation
Rentable Building Area 44,000 SF
No. Stories 4
Year Built/Renovated 1889/2026
Parking Ratio 0.45/1,000 SF
Clear Ceiling Height 11 FT
No. Dock-High Doors/Loading 1
No. Drive In / Grade-Level Doors 1
Opportunity Zone Yes

Amenities

  • Yard
Walk Score ®
Very Walkable (83)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • WORC-000005-000011-000013-000015
  • WORC-000005-000011-000012
  • WORC-000005-000011-000030
Land Assessment
$96,600
Improvements Assessment
$604,400
Total Assessment
$701,000

zoning

Zoning Code MG (Light industrial, mixed use)
MG (Light industrial, mixed use)
  • Listing ID: 33391875

  • Date on Market: 10/3/2024

  • Last Updated:

  • Address: 90-84-91 Lamartine St, Worcester, MA 01608

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