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    515 Pleasant St Leicester, MA 01524

    Sponsored
    For Sale
    $375,000

    8.28 Acres, Mixed-Use Development Potential

    Property size:
    20,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 8.28-acre parcel, strategically located at the intersection of Route 56 and 515 Pleasant Street in Leicester, Massachusetts (zip code 01524), presents a compelling opportunity for commercial development. Zoned for both RIB and RA mixed-use development, this property offers significant potential. Conceptual plans already exist for a substantial 20,000 square foot commercial building, providing a solid foundation for future construction. The site boasts approximately 852 feet of frontage along Route 56, ensuring high visibility and accessibility. Public water is readily available, and public sewer is conveniently located within 800 feet of the property, simplifying infrastructure connections. This prime location in Worcester County offers excellent access to major transportation routes and a thriving local market. The asking price for this remarkable development opportunity is $375,000. Don't miss this chance to acquire a significant commercial land parcel in a desirable Massachusetts location.

    Property Features for 515 Pleasant St

    General Information

    Property type
    Land
    Square Feet
    20,000 SF
    Lot Size
    360,677 SF

    HighLights

    • 8.8‑acre parcel.
    • 852 feet of frontage on Route 56.
    • Public water available; sewer less than 800 feet.
    • Mixed‑use zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Building Supply Wholesale Shop Auto Repair Shop Hotel & Motel Department Store Kitchen & Bath Storage Facility HVAC Service Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Leicester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.9075686
    Latitude
    42.240099

    Nearby Comparable

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Land - 8.28 Acres, Mixed-Use Development Potential
    Where is this land located?
    The property is located at 515 Pleasant St Leicester, MA.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: 8.8-acre parcel.; 852 feet of frontage on Route 56.; Public water available; sewer less than 800 feet.
    Request Owner's contact information
    515 Pleasant St Leicester, MA 01524
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    Leicester, MA 01524
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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
    515 Pleasant St Leicester, MA 01524
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