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    997 Main St Leicester, MA 01524

    For Sale
    $500,000

    Large property near Worcester, ideal for multifamily or single-family use.

    Lot size:
    0.29 Acres

    Property Features for 997 Main St

    General Information

    Lot size
    0.29 Acres

    Building Details

    Year built
    1950

    Source: Lornell Real Estate Agent Todd Lornell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Spacious Leicester Property with Redevelopment Potential

    The property at 997 Main St, Leicester, presents an opportunity for investors, developers, or owner-occupants. Currently configured as a large single-family home, the property offers approximately 3,504 sq. ft. of space. It features 10 bedrooms and 4 bathrooms. The layout is suitable for multifamily conversion, co-living, group housing, or use as a spacious single-family home. The location is near Worcester, providing access to amenities, employment centers, and transit. The property's size and redevelopment potential make it a prime investment.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Wholesale Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leicester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.9052074
    Latitude
    42.2459667

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    FAQs

    What type of property is this?
    Apartment building - Large property near Worcester, ideal for multifamily or single-family use.
    Where is this apartment building located?
    The property is located at 997 Main St Leicester, MA.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: - Substantial 3,504 sq. ft. property featuring 10 bedrooms and 4 bathrooms.; - Versatile layout, ideal for multifamily conversion, co-living, group housing, or single-family use.; - Prime location just minutes from Worcester, capitalizing on strong rental demand.
    (774) 230-3634
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    997 Main St Leicester, MA 01524
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    Leicester, MA 01524
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    997 Main St Leicester, MA 01524
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