Business for Sale in Worcester, MA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Worcester, MA 01604
  • Size: 9,397 SF
  • Year built: 1925

Description

Strategically located along Worcester’s premier restaurant and entertainment corridor, this unique mixed-use investment opportunity offers investors and developers the ability to acquire a stabilized income-producing commercial asset together with a proposed residential development opportunity in one of the city’s most active urban neighborhoods. Positioned within the highly desirable Shrewsbury Street district, the property benefits from strong pedestrian activity, excellent regional access, and continued residential and commercial growth throughout the Worcester market. 179 Shrewsbury Street: A 9,397 RSF well-appointed, fully leased eight-unit multi-tenanted commercial building situated on a 0.37-acre parcel. The property built in 1925 is anchored by the well-established and highly recognized, Pepe’s Italian Restaurant and Bar with a specialty food store. Additional tenants include a diverse mix of personal service & healthcare-related businesses, creating stable tenancy and strong daily activity throughout the property. Key Highlights Fully leased multi-tenant commercial building Established long-term tenancy Strong Shrewsbury Street visibility Stable in-place income Diverse tenant mix Excellent walkability and neighborhood amenities Significant future redevelopment 3 Lyon Street: A 0.304 acre parcel currently utilized as 27 parking spaces supporting the commercial building located at 179 Shrewsbury Street.The site is in the process of being permitted for a new 20-Unit Mixed-Use Residential Development including: Eighteen (18) market-rate residential units Two (2) street-level retail storefronts Structured parking configuration The proposed development provides investors with flexibility to finalize the project program, including: Apartments vs. condominiums Unit mix Interior finish packages Branding and amenity concepts This offering represents a rare opportunity to acquire a fully entitled or near-entitled urban infill development site within one of Worcester’s

Market Context

This other in Worcester, MA is listed for sale across 9,397 SF. The building dates to 1925. It has been on the market for 5 days. Compare it against other other listings for sale in Worcester, MA — <a href="/search/sale/other/massachusetts/worcester">view the full market</a>.

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