115 W Main St - Apartments FOR SALE


Millbury, MA 01527
$5,850,000 USD
508-841-6212
115 W Main St, Millbury, MA for Sale
$5,850,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

115 W Main St
Millbury, MA 01527


OVERVIEW

Kelleher & Sadowsky Associates, Inc. proudly presents the remarkable development opportunity known as Singletary Arms, situated in Millbury, MA. This historic mill property showcases unparalleled architectural charm, reflective of a bygone era impossible to replicate today. Originating during the industrial revolution, it holds a storied past steeped in textile manufacturing and served as a production hub for the America Revolution-era Massachusetts Spy newspaper. With permits secured for 180 residential units and over 6,000 square feet of commercial space, including two to-be constructed buildings elevated behind the existing structure, the site is primed for transformative development. The approved plans also call for 18 affordable units set at 80% of the area median income. The demand for housing of this caliber is exceptionally high, especially given its proximity to Worcester, the second largest city in New England. Worcester's rental market, recently ranked as the third tightest in the nation, underscores the significance of this opportunity. Nestled in the highly coveted West Millbury area, the property offers seamless connectivity, mere minutes from Route 146 and a commuter's paradise with effortless access to the Mass Pike, Routes 20, 120, 290, and 395. The sale also includes the parcels at 119 West Main Street, and 3 & 4 Burbank Street. With full approval in hand, this represents a rare gem in today's development landscape. For further details, please don't hesitate to reach out to us

FOR SALE DETAILS

PRICE

$5,850,000 USD

PRICE/SF

$94 USD /SF

# OF UNITS

180

PRICE/UNIT

$32,500

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Singletary Arms

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

12.33 AC

LAND SF

537,095 SF

ZONING

I1

APN/PARCEL ID

MILB-000070-000000-000099

ASK ABOUT THIS PROPERTY

Chris NaffKelleher & Sadowsky Associates, Inc.More Info
508-841-6212

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Chris NaffKelleher & Sadowsky Associates, Inc.More Info
508-841-6212

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.