17-27 PleasantWorcester, MA 01608MLS Number 72771254

  • Price: $609,999
  • 20 Days on Market
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Federal 30-year interest rate: 2.77% last updated on Jan 21, 2021
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17-27 Pleasant Worcester MA 0160817-27 Pleasant Worcester MA 0160817-27 Pleasant Worcester MA 0160817-27 Pleasant Worcester MA 0160817-27 Pleasant Worcester MA 01608
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  • 0.15Acreage
  • 1890Year Built
  • 24,739Square Feet
**CURRENT INCOME (+) UPSIDE** Priced to sell at (10%) above city assessment, exceptional investment opportunity to participate in Worcester's post Covid-19 resurgance. Historic, currently shuttered and developable, the 4-story Olympia Theatre/Music Hall (1,300 seat capacity), is located in Worcester's downtown opportunity zone and included in the Worcester Redevelopment Auhtority's Urban Revitalization Plan. Currently producing a (5%) cash-on-cash annual income from a Class A street level, triple-net lease - earn more by bringing (2nd) street-level retail space back online - great upside from renovated music hall performance revenue. Sizeable federal and state grants available for Theatre/Music Hall renovation. Up to $30,000 of City of Worcester Downtown Facade Grant Program funds available.
Listed by Michael Alves and Scott Dennett of Keller Williams Realty Leading Edge

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More Info

Parking

  • Parking Spaces
  • Total Parking Spaces

Building

  • Year Built1890
  • Total Units3
  • Total Bldg Sf24739
  • Reu Units3
  • No Buildings1
  • No Stories4
  • Entry OnlyNo
  • Assessed Value Bldg446900

Other

  • Modification Date2021-01-08T20:06:00
  • Property TypeCommercial
  • Listing AlertNo
  • Year Built SourcePublic Record
  • DisclosureNo
  • Book42176
  • Listing AgreementExclusive Right to Sell
  • ExchangeNo
  • Page177
  • View Count7

Basic Information

  • MLS Number72771254
  • Prop TypeCI
  • Status Date2021-01-04T20:37:00
  • Date Listed01/04/2021
  • List Price$609,999
  • Price Per Square Foot$25
  • LeaseNo
  • DirectionThree (3) doors up from the intersection of Main and Front Streets (at City Hall)
  • MLS StatusActive

Utilities

  • UtilitiesPublic Water, Public Sewer, Natural Gas

Auction

  • Special FinancingNo

Photos

  • Photo Date2021-01-06T10:54:00
  • Number of Photos5

Location

  • StreetPleasant
  • TownWorcester
  • StateMA
  • Zip01608
  • CountyWorcester
  • LocationDowntown, Central Business District

Property

  • Acreage0.15
  • Net Operating Inc30063
  • Space AvailableFor Sale
  • Square Feet24,739
  • SubletNo
  • Gross Annual Exp20625
  • Lot Size6600
  • Gross Annual Income50688
  • Condo AssociationNo
  • Assessed Value Land108300
  • Main LoAN2275

Your Local Office

Foster-Healey Real Estate, Inc. (Leominster Office)

Foster-Healey Real Estate, Inc. (Leominster Office)

50 Central Street,
Leominster, MA 01453

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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