Mixed-Use Office and Residential
For Sale
$799,865
585 Park Ave, Worcester, MA 01603
Generates income with long-term first-floor commercial leases and residential units on the second floor.
Property SizeContact for details
Days on Market151
Property Features for 585 Park Ave
General Information
Standard status
Active
Property subtype
Commercial
Zoning
BG-2
Lease Type
Net
Taxes and HOA fees
Annual Taxes
$22,636
Building Details
Year Built
1965
Tenancy
Multi
Listing Agency:
LPT Realty - Home & Key Group
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 7
Changed: Sep 3
Last Checked: Sep 2 at 1:41PM
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 LPT Realty - Home & Key Group
Investment Insights
Based on property information with market context.
This mixed-use property is positioned for an investor owner, with long-term commercial leases on the first floor. Two office spaces remain available to rent, and a portion of the parking area is currently rented, contributing to today’s income. Residential space is located on the second floor, with occupancy described as TAW.
Located at 585 Park Ave in Worcester, MA 01603, the building combines income-producing commercial space and residential units within the same structure, along with revenue from a rented portion of the parking area.
For the right buyer, the property offers a straightforward path to maximizing existing revenue streams while leasing the remaining office spaces that are currently available. It may also appeal to operators seeking a small mixed-use setup with established first-floor commercial leasing and residential occupancy status noted as TAW on the second floor. The balance of leased and available components can be attractive for buyers looking to manage leasing progress across the office space and ongoing residential operations.
Located at 585 Park Ave in Worcester, MA 01603, the building combines income-producing commercial space and residential units within the same structure, along with revenue from a rented portion of the parking area.
For the right buyer, the property offers a straightforward path to maximizing existing revenue streams while leasing the remaining office spaces that are currently available. It may also appeal to operators seeking a small mixed-use setup with established first-floor commercial leasing and residential occupancy status noted as TAW on the second floor. The balance of leased and available components can be attractive for buyers looking to manage leasing progress across the office space and ongoing residential operations.
Key Highlights
- 1965‑built property generating income from long‑term first‑floor commercial leases
- Second‑floor residential units provide additional rental income (TAW)
- Two office spaces are available to rent to help increase current income
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,159
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Generates income with long-term first-floor commercial leases and residential units on the second floor.
Where is this office units located?
The property is located at 585 Park Ave Worcester, MA.
What is the asking price?
The asking price for this property is $799,865.
What are key features of this property?
This property features: 1965‑built property generating income from long‑term first‑floor commercial leases; Second‑floor residential units provide additional rental income (TAW); Two office spaces are available to rent to help increase current income
