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The Sterling Inn 240 Worcester Rd 9,871 SF Retail Building Sterling, MA 01564 $799,900 ($81.04/SF)

Restaurants Massachusetts Sterling 240 Worcester Rd, Sterling, MA 01564

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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! Discover the historic Sterling Inn, ideally situated at the base of Mt. Wachusett and offering incredible potential for redevelopment or restoration. This iconic property sits on 1.6 acres and boasts nearly 12,000 sq ft of interior space. Included in the sale is the adjacent 3.7-acre mixed-use lot located at 223 Worcester Road, providing a total of 5.3 acres for your vision. Both 240 & 223 Worcester Road are deeded together, offering a rare chance to reimagine this landmark. Whether you’re looking to restore the existing structure, develop townhomes or condos, or create a mixed-use community with residential and retail components, this property is brimming with opportunity. Available documentation includes perk tests and preliminary cost estimates for various development options. Just minutes from hiking, skiing, and outdoor adventure, this location combines small-town charm with big development potential.

ATTACHMENTS

MLS- 240 WORCESTER ROAD

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,871 SF
Building Class
C
Year Built
1908
Price
$799,900
Price Per SF
$81.04
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’ on Worcester Road

AMENITIES

  • Restaurant
  • Signage

LINKS

1 1

PROPERTY TAXES

Parcel Number STER-000105-000000-000047 Improvements Assessment $211,900
Land Assessment $260,900 Total Assessment $472,800

PROPERTY TAXES

Parcel Number
STER-000105-000000-000047
Land Assessment
$260,900
Improvements Assessment
$211,900
Total Assessment
$472,800
(978) 692-3280

Still interested?

Contact the broker for more information about this property

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.

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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

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