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$2,400,000
Est. payment /mo
10,668 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 10,668 sqft
Price per Sqft $224
MLS Listing ID 73463479
HOA Y/N false
Year Built 1920
Annual Tax Amount $26,459
Tax Year 2025
Lot Size 0.330 Acres
Acres 0.33
Property Description
MASSIVE CORNER LOT PACKAGE SALE in Downtown Worcester! Two adjoining corner parcels. 14,200+ SF of land. Offered at just $169 per SF of land. Underwritten at a POWERFUL 11.5% PRO FORMA CAP RATE ACROSS BOTH LOTS. 703–711 Main St is extensively renovated. Street-level retail is occupied on a modified gross lease by an expanding restaurant, thriving mini-mart, and a beloved neighborhood 14-chair barbershop producing $117,600 with clear upside.The entire second floor was COMPLETELY GUT RENOVATED IN 2025. 14 giant bedrooms. 3 kitchens. 3 full baths. 100% new HVAC, plumbing, and electrical. Approved rooming house license in place! Projected residential income of $184,800 annually. This is true income-producing urban infill in the heart of downtown Worcester. Immediate yield. Efficient basis. Long-term redevelopment and density upside. Assets like this almost never come to market. Move quickly.
Location
State MA
County Worcester
Zoning BG-3
Direction Located at the corner of Main Street and Charlton Street in downtown Worcester
Exterior
Utilities Available Public Water, Public Sewer
Roof Type Rubber
Others
Senior Community false
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Listed by Bridgemont Realty LLC
GALLERY
