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    61 Pearl St Worcester, MA 01608

    Sponsored
    For Sale
    $3,345,000

    Prime Worcester parcels, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Three strategically located commercial land parcels are available for sale in Worcester's Central Business District. These properties, totaling between 0.27 and 0.68 acres, offer significant development potential. The parcels are situated at 61 Pearl Street, 56 Pleasant Street, and 30 Chatham Street, and may be purchased individually or as a portfolio. 56 Pleasant Street is an unpaved development site, while 61 Pearl Street and 30 Chatham Street are currently paved and licensed parking lots. All three parcels are zoned BG-6, allowing for a variety of uses including office, food service, hotel, and multi-family dwellings by right. This presents a unique opportunity for investors and developers seeking to capitalize on the vibrant Worcester market. The location within an Opportunity Zone adds further investment appeal. The asking price for the entire portfolio is $3,345,000. Detailed site plans and zoning information are available upon request. This is a rare chance to acquire prime real estate in a rapidly growing urban core.

    Property Features for 61 Pearl St

    General Information

    Property type
    Land
    Lot Size
    11,761 SF

    HighLights

    • $3,345,000 asking price.
    • Three commercial land parcels available for sale in Worcester, MA's Central Business District.
    • Lots range from 0.27 to 0.68 acres.
    • BG‑6 zoning permits various uses, including office, food service, hotel, and multi‑family residential.
    • Located within an Opportunity Zone.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.80402
    Latitude
    42.263948

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    FAQs

    What type of property is this?
    Land - Prime Worcester parcels, ideal for development.
    Where is this land located?
    The property is located at 61 Pearl St Worcester, MA.
    What is the asking price?
    The asking price for this property is $3,345,000.
    What are key features of this property?
    This property features: $3,345,000 asking price.; Three commercial land parcels available for sale in Worcester, MA's Central Business District.; Lots range from 0.27 to 0.68 acres.
    Request Owner's contact information
    61 Pearl St Worcester, MA 01608
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    Worcester, MA 01608
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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
    61 Pearl St Worcester, MA 01608
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