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    115 Main St Millbury, MA 01527

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    For Sale
    Contact for pricing

    180 Units, 62,244 SF, Prime Location

    Property size:
    62,244 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional redevelopment opportunity presents a unique chance to transform the historic Singletary Arms property in Millbury, Massachusetts. Located at 115 W Main St, this 12.33-acre site encompasses a three-story, 62,244 square foot building, originally constructed in 1800, and includes additional parcels at 119 West Main Street, and 3 & 4 Burbank Street. The property currently has approved permits for the construction of 180 residential units, including 18 affordable units (80% AMI), and over 6,000 square feet of commercial space in two new buildings. This mixed-use development project benefits from its strategic location in the highly desirable West Millbury area, offering convenient access to major transportation arteries including Route 146, the Mass Pike, and Routes 20, 120, 290, and 395. The strong rental market in Worcester, the second largest city in New England, and its proximity to Millbury, further enhance the investment potential. This fully approved project represents a rare and compelling opportunity for significant returns in a thriving market. The existing building, with its rich history dating back to the American Revolution, offers a unique blend of historical charm and modern development potential. This is a turnkey project ready for immediate development.

    Property Features for 115 Main St

    General Information

    Property type
    Multifamily properties
    Square Feet
    62,244 SF
    Lot Size
    537,095 SF

    Building Details

    Year Built
    1800
    Buildings
    1
    Stories
    3
    Units
    180

    HighLights

    • Exceptional redevelopment opportunity: 12.33‑acre site in Millbury, MA with approved permits for 180 residential units (including 18 affordable units) and over 6,000 SF of commercial space.
    • Prime location at 115 W Main St, Millbury, MA, including additional parcels at 119 West Main Street, and 3 & 4 Burbank Street.
    • Strategic access to major transportation arteries: Route 146, Mass Pike, Routes 20, 120, 290, and 395.
    • Strong rental market in nearby Worcester, MA enhances investment potential.
    • Turnkey project ready for immediate development.
    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
    Millbury
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.77135956876
    Latitude
    42.179560995084

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    FAQs

    What type of property is this?
    Multifamily property - 180 Units, 62,244 SF, Prime Location
    Where is this multifamily property located?
    The property is located at 115 Main St Millbury, MA.
    What are key features of this property?
    This property features: Exceptional redevelopment opportunity: 12.33-acre site in Millbury, MA with approved permits for 180 residential units (including 18 affordable units) and over 6,000 SF of commercial space.; Prime location at 115 W Main St, Millbury, MA, including additional parcels at 119 West Main Street, and 3 & 4 Burbank Street.; Strategic access to major transportation arteries: Route 146, Mass Pike, Routes 20, 120, 290, and 395.
    Request Owner's contact information
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    Millbury, MA 01527
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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
    115 Main St Millbury, MA 01527
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