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340 Main St
Worcester, MA 01608
SilverBrick SkyHouse · Bureau Propriété À vendre
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- 15-Year Tax Increment Exemption (TIE): Approved by Worcester City Council and projected to generate approximately $5.7M in real estate tax savings.
- Advanced Pre-Development Status: Architectural planning completed with building permit able to be reactivated through fee payment & documentation.
- Institutional-Scale 312-Unit Development: One of the largest entitled multifamily redevelopment opportunities in Downtown Worcester.
- Federally Designated Opportunity Zone: Provides capital gains deferral and potential tax-free appreciation benefits for qualified investors.
- 523-Unit Self-Storage Component: Approximately 13,800+ SF basement storage facility projected to generate $300K–$380K NOI annually.
- Strong Rent Growth & Boston Spillover: Worcester continues to benefit from strong rent growth and increasing demand driven by Boston’s commuter market
Résumé de l'annonce
Scope Commercial Real Estate is pleased to present 340 Main Street, Worcester, Massachusetts, a historic adaptive reuse redevelopment opportunity located in the heart of Downtown Worcester. The property consists of two interconnected buildings totaling approximately 380,000 square feet across 10 stories along Worcester’s primary Main Street corridor.
The approved redevelopment plan includes 312 residential units, 523 self-storage lockers, ground-floor retail space, and amenity areas, creating a mixed-use urban residential asset in one of New England’s fastest-growing secondary markets. The property benefits from 20 parking spaces within the annex building and the opportunity to master lease approximately 300 structured parking spaces, providing significant parking capacity in a supply-constrained downtown market.
Extensive pre-development work and architectural planning have already been completed, and the building permit can be reactivated through payment of permit fees and contractor documentation, positioning the project for a streamlined path toward redevelopment. The development is further supported by a significant tax credit and a 15-year Tax Increment Exemption (TIE) approved by the City of Worcester.
The approved redevelopment plan includes 312 residential units, 523 self-storage lockers, ground-floor retail space, and amenity areas, creating a mixed-use urban residential asset in one of New England’s fastest-growing secondary markets. The property benefits from 20 parking spaces within the annex building and the opportunity to master lease approximately 300 structured parking spaces, providing significant parking capacity in a supply-constrained downtown market.
Extensive pre-development work and architectural planning have already been completed, and the building permit can be reactivated through payment of permit fees and contractor documentation, positioning the project for a streamlined path toward redevelopment. The development is further supported by a significant tax credit and a 15-year Tax Increment Exemption (TIE) approved by the City of Worcester.
Faits sur la propriété
Type de vente
Investissement
Type de propriété
Bureau
Sous-type de propriété
Taille du bâtiment
381 368 pi²
Classe d’immeuble
B
Année de construction/rénovation
1897/1928
Prix
34 091 499 $ CAD
Prix par pi²
89,39 $ CAD
Location
Multiples
Hauteur du bâtiment
10 étages
Superficie de plancher typique
38 137 pi²
Dalle à dalle
13’
Coefficient d’occupation des sols de l’immeuble
7,44
Taille du lot
1,18 AC
Zone de développement économique
Oui
Zonage
BG-6 - Entreprises commerciales
Stationnement
320 places (0,84 places par 1 000 pi² loué)
Commodités
- Gestionnaire d'immeuble sur place
Impôts fonciers
| Numéro de lot | WORC-000003-000032-000021 | Évaluation des bâtiments | 19 199 180 $ CAD |
| Évaluation du terrain | 226 050 $ CAD | Évaluation totale | 19 425 230 $ CAD |
Impôts fonciers
Numéro de lot
WORC-000003-000032-000021
Évaluation du terrain
226 050 $ CAD
Évaluation des bâtiments
19 199 180 $ CAD
Évaluation totale
19 425 230 $ CAD
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