REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 3,900,000
Est. payment /mo
Price Dropped by $299K
216-228 Park Avenue Worcester, MA 01609
15,239 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 15,239 sqft
Price per Sqft $255
MLS Listing ID 73573445
HOA Y/N false
Year Built 1890
Annual Tax Amount $39,826
Tax Year 2026
Lot Size 0.910 Acres
Acres 0.91
Property Description
An exceptional opportunity to acquire a prominent four-property investment portfolio situated on a 39,478-square-foot site at one of Worcester's most visible and sought-after corners. The portfolio consists of a 14-room rooming house, a 15-room rooming house, a three-family property with tenants at will and below-market rents, and a fully renovated single-family residence. The offering includes approximately 20 off-street parking spaces and provides multiple income streams with additional upside through rent growth and future asset stabilization. The parking-lot area may also offer the potential to construct a three-story, six-unit building. Preliminary architectural drawings from a similar development are available for reference. With strong visibility, substantial frontage, existing income, and potential redevelopment value, this is a rare opportunity to acquire a significant investment property in a difficult-to-replicate Worcester location. Any future development is subject to buyer due diligence and all required zoning, permitting, and city approvals.
Location
State MA
County Worcester
Zoning RS-7, BO-1
Direction Intersection of Park Avenue and Highland Street.
Exterior
Utilities Available Public Water, Public Sewer, Natural Gas Available, 220 Volts
Roof Type Asphalt/Composition Shingles
Others
Senior Community false
Listed by RE/MAX Partners
Nearby Locations