Multifamily Development Opportunity on
For Sale
$1,600,000
393-397 Shrewsbury St, Worcester, MA 01604
Permitted 24-unit multifamily complex with commercial space in Worcester.
Property SizeContact for details
Lot Size0.39 Acres
Days on Market167
Property Features for 393-397 Shrewsbury St
General Information
Standard status
Active
Lot size
0.39 Acres
Property subtype
Multifamily
Listing Agency:
NAI Glickman Kovago & Jacobs
(508) 868-6182
Listed By:
Alexis Brissette · License #9583327
(508) 868-6182
Source:
Naiglobal
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 20 at 4:24AM
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 NAI Glickman Kovago & Jacobs
Investment Insights
Based on property information with market context.
Located on Shrewsbury Street in Worcester, Massachusetts, this 0.39-acre parcel is fully permitted for a 24-unit multifamily apartment complex. The development includes market-rate residential units and a commercial space on the first floor. Underground parking is available for residents. Shrewsbury Street is a commercial hub known for its restaurants, local businesses, and cultural history. The location offers high visibility and access to Interstate 290 and Route 9. The area features dining, entertainment, and retail options within a walkable neighborhood, attracting foot traffic. Its proximity to downtown Worcester and Union Station makes it accessible. The mixed-use component adds value for business operators.
Key Highlights
- Fully permitted for a 24‑unit multifamily apartment complex.
- Prime location on Shrewsbury Street with high visibility and easy access to I‑290.
- Includes commercial space on the first floor.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Permitted 24-unit multifamily complex with commercial space in Worcester.
Where is this commercial land located?
The property is located at 393-397 Shrewsbury St Worcester, MA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Fully permitted for a 24‑unit multifamily apartment complex.; Prime location on Shrewsbury Street with high visibility and easy access to I‑290.; Includes commercial space on the first floor.
