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74 Water St 5,400 SF Industrial Building Worcester, MA 01604 $699,000 ($129.44/SF)

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INVESTMENT HIGHLIGHTS

Proximity to dense residential, hospitals, and small businesses means potential demand for services, offices, warehousing or mixed-use.

EXECUTIVE SUMMARY

Opportunity awaits with this versatile warehouse property offering approximately 4,200 square feet of main-level space plus an additional 3,850 square feet in the unfinished basement. Conveniently located in Worcester near major highways, small businesses, hospitals, and dense residential neighborhoods, this property is well-positioned for a variety of commercial uses. Whether you're looking for a space to operate a warehouse, launch a manufacturing business, or redevelop into multiple units, the potential here is substantial. The building does require rehab, making it a great fit for experienced investors or developers ready to add value. The layout lends itself to possible subdivision, opening doors for creative repurposing. With demand growing in Worcester for commercial and mixed-use spaces, this is a smart play in a high-visibility location. Bring your vision and unlock the full potential of this property.

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access	ANNUAL	ANNUAL PER SF
Taxes	$99,999	$9.99
Operating Expenses	-	-
Total Expenses	$99,999	$9.99

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

Taxes
Annual	$99,999
Annual Per SF	$9.99

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$99,999
Annual Per SF	$9.99

PROPERTY FACTS

Price	$699,000	No. Stories	1
Price Per SF	$129.44	Year Built	1900
Sale Type	Investment	Tenancy	Single
Sale Conditions	1031 Exchange Build to Suit	Parking Ratio	0.74/1,000 SF
Property Type	Industrial	Clear Ceiling Height	12’
Property Subtype	Warehouse OfficeLoft Creative Space	No. Dock-High Doors/Loading	1
Building Class	C	No. Drive In / Grade-Level Doors	1
Lot Size	0.16 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Rentable Building Area	5,400 SF
Zoning	BG-3 - General Business

Price	$699,000
Price Per SF	$129.44
Sale Type	Investment
Sale Conditions	1031 Exchange Build to Suit
Property Type	Industrial
Property Subtype	Warehouse OfficeLoft Creative Space
Building Class	C
Lot Size	0.16 AC
Rentable Building Area	5,400 SF
No. Stories	1
Year Built	1900
Tenancy	Single
Parking Ratio	0.74/1,000 SF
Clear Ceiling Height	12’
No. Dock-High Doors/Loading	1
No. Drive In / Grade-Level Doors	1
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	BG-3 - General Business

Courtyard

Storage Space

Lighting
Gas
Water
Sewer
Heating

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Walk Score®

Walker's Paradise (95)

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PROPERTY TAXES

Parcel Number	WORC-000004-000021-000003	Total Assessment	$430,600 (2025)
Land Assessment	$150,300 (2025)	Annual Taxes	($1) ($0.00/SF)
Improvements Assessment	$280,300 (2025)	Tax Year	2024