24 Lake Ave 4,607 SF 100% Leased Retail Building Worcester, MA 01604 $1,283,548 CAD ($278.61 CAD/SF)

FOR SALE PRIME MIXED-USE INVESTMENT OPPORTUNITY
24 Lake Avenue presents a compelling mixed-use opportunity consisting of a ± 3,091 SF, three-unit building with on-site parking, located along one of Worcester’s most heavily
traveled commercial corridors. The property features a diversified tenant mix with two commercial units and one residential apartment, offering both stable in-place income
and future upside. The commercial units are occupied by Designs by Joseph, an established tailor, and Hot Set Hair Studio, a well-established salon, while the residential apartment provides additional cash flow. Current rents are below market, creating a clear path for rental growth through lease renewals, re-tenanting, or repositioning, allowing a new owner to enhance the NOI.
The property’s exceptional location and visibility further support long-term value appreciation. Situated directly off the Boston–Worcester Turnpike (Route 9) and between two
signalized intersections, the site benefits from outstanding traffic counts of 32,863 vehicles per day on Belmont Street and 13,687 vehicles per day on Lake Avenue. This exposure makes the property particularly attractive to retail, professional users, and neighborhood businesses.
With below-market rents, strong existing tenancy, off-street parking, and a prime high-traffic location, this property offers investors and owner-users a rare opportunity to acquire a well-located asset with meaningful rent growth and value add potential in the growing Worcester market.