240 Worcester Rd - Restaurant FOR SALE


Sterling, MA 01564
$799,900 USD
978-692-3280
240 Worcester Rd, Sterling, MA for Sale
$799,900 USD
Restaurant - FOR SALE
1/14
null | Request Cap Rate

240 Worcester Rd
Sterling, MA 01564


HIGHLIGHTS

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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$799,900 USD

PRICE/SF

$81 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Sterling Inn

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1908

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

5.3 AC

LAND SF

230,868 SF

ZONING

C

APN/PARCEL ID

STER-000105-000000-000047

ASK ABOUT THIS PROPERTY

Kelly EspinolaKeller Williams Realty Merrimack ValleyMore Info
978-692-3280

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Kelly EspinolaKeller Williams Realty Merrimack ValleyMore Info
978-692-3280

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