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The Sterling Inn 240 Worcester Rd

9,871 SF Retail Building Sterling, MA 01564 $844,900 ($86/SF)

Restaurants Massachusetts Sterling 240 Worcester Rd, Sterling, MA 01564

Investment Highlights

  • Historic Sterling Inn: Located near Mt. Wachusett, featuring 1.6 acres of land and nearly 12,000 sq. ft. of interior space.
  • Unified Property: Both 240 and 223 Worcester Road are included on the same deed, as referenced in the MLS.
  • Flexible Options: Potential to restore the existing inn, convert to townhomes or condos, or develop additional residential and retail space.
  • Expansive Mixed-Use Land: Additional 3.7-acre mixed-use lot at 223 Worcester Road, offering versatile development opportunities.
  • Ready for Development: Various documents available, including perk testing results and estimated conversion costs for townhomes.
  • Endless Possibilities: Ideal for investors and developers looking to maximize the potential of this unique property.

Executive Summary

A Fantastic Development Opportunity Awaits!! The historic Sterling Inn is located near the foot of Mt. Wachusett sitting on 1.6 acres of land and almost 12k square feet of interior space. The land located at 223 Worcester Road consists of 3.7 acres of mixed use land. 240 and 223 Worcester Road are both on the same deed attached to MLS for reference. Various documents in hand including, perk testing and estimated costs for conversion and development of townhomes. Whether you restore the existing facility or convert to Townhomes / Condos, and/or leverage the mixed-use lot at 223 Worcester Rd to build additional townhomes and retail space, the possibilities for this property are endless! Reach out for more information today.

Attachments

MLS - Sterling

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,871 SF
Building Class
B
Year Built
1908
Price
$844,900
Price Per SF
$86
Tenancy
Single
Building Height
2 Stories
Building FAR
0.04
Lot Size
5.30 AC
Zoning
C - Mixed use property
Parking
40 Spaces (3.35 Spaces per 1,000 SF Leased)
Frontage
62 FT on Worcester Road

Amenities

  • Restaurant
  • Signage

Links

1 of 1

PROPERTY TAXES

Parcel Numbers
Multiple
  • STER-000105-000000-000047
  • STER-000105-000000-000046
 Improvements Assessment $211,900
Land Assessment $273,000 Total Assessment $484,900

PROPERTY TAXES

Parcel Numbers
Multiple
  • STER-000105-000000-000047
  • STER-000105-000000-000046
Land Assessment
$273,000
Improvements Assessment
$211,900
Total Assessment
$484,900
(978) 692-3280

Contact

  • Listing ID: 30210111

  • Date on Market: 11/30/2023

  • Last Updated:

  • Address: 240 Worcester Rd, Sterling, MA 01564

More public record information on 240 Worcester Rd, Sterling, MA 01564

The Retail Property at 240 Worcester Rd, Sterling, MA 01564 is currently available for sale. Contact Keller Williams Realty Merrimack Valley for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

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240 Worcester Rd, Sterling, MA for sale Building Photo- Image 1 of 15
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The Sterling Inn | 240 Worcester Rd
(978) 692-3280 x

The Sterling Inn | 240 Worcester Rd

Kelly Espinola

(978) 692-3280

(978) 692-3280

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