222-228 Park Avenue Pl Worcester, MA 01609
- Office Properties & Spaces
- 10,931 SF
- 0.35 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 222-228 Park Avenue Pl
- Lot size
- 0.35 lot acres
- Property size
- 10,931 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity comprises three properties totaling 10,931 square feet on a 0.35-acre lot at 222-228 Park Avenue, Worcester, MA 01609. The portfolio includes a newly renovated 6,170 square foot Class B commercial office building (226 Park Ave, BO-1 zoning) featuring a conference room, open workspace, private offices, and a separate 1,100 square foot private office suite. Also included is a three-family residential building (224 Park Ave, RS-7 zoning) spanning 3,153 square feet, consisting of two two-bedroom units and one one-bedroom unit. Finally, a single-family home (222 Park Ave, RS-7 zoning) offering three bedrooms and one and a half bathrooms, totaling 1,608 square feet, completes the portfolio. The properties benefit from a highly visible location with approximately 22,000 cars passing daily, situated directly off Route 9, across from a major grocery store and Doherty High School, and minutes from downtown Worcester, I-290, and WPI. Annual property taxes total $17,650 ($9,120 for 226 Park Ave, $4,567 for 224 Park Ave, and $3,961 for 222 Park Ave). This multi-family and office property presents a compelling blend of commercial and residential income streams in a high-demand area. The strong tenant base and prime location make this a rare opportunity for investors seeking a diversified portfolio with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.8163
- Latitude
- 42.2708
