Back to Search

Redevelopment Opportunity in Worcester, MA

342 West Boylston St, Worcester, MA 01606

View on Map

For Sale

$775,000

3,360 SF former fast-food building with redevelopment potential.

Type:Commercial

Property size:

3,360 SF

Price / SF:

$230/SF

HighLights

Approved development proposals for a 24‑unit multifamily project offer significant long‑term residential redevelopment upside.
Located in a highly affluent commercial corridor with convenient access to a major highway.
Excellent repositioning opportunity for restaurant, retail, or office use.
Surrounded by strong economic drivers including an Amazon distribution center and Chase Bank.
3,360 sq.ft former fast‑food retail building.
Very Walkable: Walk Score of 71.

We can help!

Listing Contact

James Kalogeropoulos

Learn more

For Sale

$775,000

3,360 SF former fast-food building with redevelopment potential.

Type:Commercial

Property size:

3,360 SF

Price / SF:

$230/SF

Added:: Apr 24, 2026
Days on Market:: 53
Last Refresh:: Apr 24 at 4:23 pm

Property Features for 342 West Boylston St

General Information

Standard status: Active
Size: 3,360 SF
Property subtype: Commercial

Building Details

Year Built: 1970

We can help!

Listing Contact

James Kalogeropoulos

Listing agent James Kalogeropoulos License #9072828

Listing office Re/Max Partners

Listing date Apr 24, 2026

Source Elliman

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

All listing content including descriptions, pricing, images are the copyrighted material of Re/Max Partners

HighLights

Approved development proposals for a 24‑unit multifamily project offer significant long‑term residential redevelopment upside.
Located in a highly affluent commercial corridor with convenient access to a major highway.
Excellent repositioning opportunity for restaurant, retail, or office use.
Surrounded by strong economic drivers including an Amazon distribution center and Chase Bank.
3,360 sq.ft former fast‑food retail building.
Very Walkable: Walk Score of 71.

Overview

This 3,360 sq.ft former fast-food retail building offers a redevelopment and value-add opportunity for investors, developers, or owner-users. The existing structure requires renovation and is suited for restaurant, retail, or office use. The property benefits from completed approvals and development proposals for a 24-unit multifamily project, offering long-term upside for residential redevelopment. Located in a commercial corridor with access to a major highway, the property is surrounded by economic drivers including an Amazon distribution center and Chase Bank, along with national and regional food franchises. The location has a walk score of 71, indicating it is very walkable, a transit score of 35, indicating some transit options, and a bike score of 29, indicating it is somewhat bikeable.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$90.7k	$27.00
− Vacancy	−$16.3k	−$4.86
EGI	$74.4k	$22.14
− OpEx	−$18.6k	−$5.54
NOI	$55.8k	$16.61

3,360 SF · lease $27.00/SF/yr · vacancy 18.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$797.0K

$697.4K – $929.9K (±1% cap)

NOI $55,793 @ 7.0% cap · market cap 7.20%

Second Best

Specialty Retail

$775.7K

$678.7K – $904.9K (±1% cap)

NOI $54,296 @ 7.0% cap · market cap 7.01%

Theoretical Best

Office A

$1.12M

$981.3K – $1.31M (±1% cap)

NOI $78,505 @ 7.0% cap · market cap 10.13%

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

Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Worcester
County: Worcester
State: Massachusetts
Longitude: -71.8007765
Latitude: 42.3033536

Nearby Similar for Sale

$1,200,000

5,205 SF

8-Unit Residential Income Building

Fully rented eight-unit multifamily with off-street parking and a small yard, positioned for strong investment stability.

14-16 Dean St, Worcester, MA 01609

View Details
$825,000

4,296 SF

Updated Triplex in Worcester, MA

Spacious, updated triplex with in-unit laundry and hardwood floors.

25 Almont Ave, Worcester, MA 01604

View Details
$679,900

2,707 SF

Worcester Triplex with Recent Updates

Three-unit residential income property in Worcester, move-in ready condition.

16 Doane Street, Worcester, MA 01607

View Details
$999,000

4,870 SF

Renovated Three-Family in Worcester

Three renovated units near I-290, shops, and Green Hill Park.

139 Lincoln St, Worcester, MA 01605

View Details
$699,900

3,420 SF

Worcester Multi-Family Near Universities

Multi-family property near Clark and Worcester State Universities.

71 Maywood St, Worcester, MA 01603

View Details
$599,999

3,768 SF

Triplex with Rare Four-Car Garage

Income-focused triplex with nine bedrooms, three baths, and a rare four-car garage near Clark University.

54 Freeland St, Worcester, MA 01603

View Details
$595,000

2,240 SF

Worcester Multi-Family Investment Opportunity

Well-maintained multi-family property in a growing Central Massachusetts market.

109 Hamilton Street, Worcester, MA 01604

View Details
$685,000

2,559 SF

Worcester Multi-Family Investment Opportunity

Three-unit property near local services and highways in Worcester, MA.

130 Kenberma Road, Worcester, MA 01604

View Details
$670,000

3,411 SF

Three-Family Residential Property

Three-family residence with separate utilities and off-street parking, suited for owner-occupants or income-focused buyers.

9 Caprera Rd, Worcester, MA 01604

View Details
$750,000

2,694 SF

Income-Producing Rooming House Near WPI

Turnkey investment property near WPI with immediate income potential.

60 Fruit Street, Worcester, MA 01609

View Details
$995,000

2,560 SF

Single-Story Retail Storefront Building

Newly constructed storefront offers an open layout, two restrooms, and ADA compliance with convenient parking.

181 Shrewsbury St, Worcester, MA, MA 01604

View Details
$1,400,000

7,620 SF

Worcester Commercial Building with Highway Visibility

Two-story commercial building with showroom, storage, and ample parking.

130 W Boylston St, Worcester, MA 01606

View Details

For sale
Retail space
MA
Worcester
01606
342 West Boylston St

What type of property is this?

Retail space - 3,360 SF former fast-food building with redevelopment potential.

Where is this retail space located?

The property is located at 342 West Boylston St Worcester, MA.

What is the asking price?

The asking price for this property is $775,000.

What are key features of this property?

This property features: Approved development proposals for a 24‑unit multifamily project offer significant long‑term residential redevelopment upside.; Located in a highly affluent commercial corridor with convenient access to a major highway.; Excellent repositioning opportunity for restaurant, retail, or office use.