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    Property profile & analytics

    240 Worcester Rd Sterling, MA 01564

    • Hotels
    • 11,934 SF
    • 1.64 lot acres
    For Sale
    View listing
    $844,900
    Value Estimation
    Location Intelligence
    Property ID
    US38-0509655
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotels

    Property Details for 240 Worcester Rd

    Year built
    1908
    Construction
    FRAME
    Lot size
    1.64 lot acres
    Property size
    11,934 SF
    Property type
    Hotels
    APN
    STER M:00105 L:00047
    APU
    STERM00105L00047

    Description

    This exceptional property presents a unique development opportunity encompassing two parcels totaling 5.3 acres. The historic Sterling Inn, situated near the base of Mt. Wachusett, boasts approximately 12,000 square feet of interior space on a 1.6-acre lot. The property at 240 Worcester Road offers significant potential for restoration or conversion into townhomes or condominiums. Adjacent to the Inn, at 223 Worcester Road, lies a 3.7-acre parcel of mixed-use land, providing further development possibilities. This combined acreage allows for the creation of additional townhomes, retail space, or a blend of both. Comprehensive documentation is available, including perk testing and cost estimates for townhome conversion and development. The property's location and size offer considerable flexibility for a variety of development projects, making it an attractive investment for those seeking a high-impact venture. The existing structure and the adjacent land present a rare opportunity to create a thriving community asset. All necessary documents, including those detailing perk testing and estimated costs for conversion and development of townhomes, are readily available for review. This is a truly remarkable opportunity to capitalize on a prime location and substantial acreage. The asking price for this combined property is $844,900.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $350,000

    • CAP approach

      CAP return
      Estimation
      6%
      $490,000
      6.5%
      $500,000
      7%
      $435,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $520,000
      Geo Method
      $440,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $530,000
      Retail
      $445,000
      Mixed-Use
      $510,000
      Hospitality
      $435,000
      Educational
      $545,000
      Residential Income
      $425,000
      Energy
      $535,000
      Income-Based Land
      $545,000
      Food Service
      $520,000

    Location Insight

    • Map
    • Local Demand
    City
    Sterling
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.764
    Latitude
    42.434
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,293
    $260,900
    $211,900
    $472,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      27,472 SF

      59 Laurelwood Rd

      HOTEL-RESORT • 27,472 SF
      59 Laurelwood Rd, Sterling, MA 01564-2220
      View Details
    • Value Estimation by Request
      4.50 Acres

      17 Stone Crst Way

      QUARRIES (SAND, GRAVEL, ROCK) • 4.50 Acres
      17 Stone Crst Way, Sterling, MA 01564
      View Details
    • Value Estimation by Request
      160.58 Acres

      33 Albright Rd

      COMMERCIAL (GENERAL) • 160.58 Acres
      33 Albright Rd, Sterling, MA 01564-2359
      View Details
    • Value Estimation by Request
      7.51 Acres

      150 Clinton Rd

      COMMERCIAL (GENERAL) • 7.51 Acres
      150 Clinton Rd, Sterling, MA 01564-2378
      View Details
    • Value Estimation by Request
      6.62 Acres

      Legate Hl Rd

      INDUSTRIAL - VACANT LAND • 6.62 Acres
      Legate Hl Rd, Sterling, MA 01564
      View Details
    • Value Estimation by Request
      7.16 Acres

      11 Pratts Jct Rd, Unit 17

      INDUSTRIAL (GENERAL) • 7.16 Acres
      11 Pratts Jct Rd, Sterling, MA 01564-2305
      View Details

    Similar Nearby for Sale

    • $844,900
      5.30 Acres

      Sterling Inn Redevelopment Opportunity

      Historic Hotel & Mixed-Use Land
      240 Worcester Rd, Sterling, MA 01564
      View Details
    • $699,900

      20.9 Acres with Small House

      Land with house and barn, potential tear down.
      121 &125 Flanagan Hl, Sterling, MA 01564
      View Details
    • $4,500,000

      Sterling Land Near Airport

      Land available near Sterling Airport, suitable for light industrial use.
      104 Greenland Rd, Sterling, MA 01564
      View Details
    • $844,900
      5.30 Acres

      Worcester Road Sterling Land Opportunity

      5.3 Acres, Mixed-Use Potential, Redevelopment Ready
      223 Worcester Rd, Sterling, MA 01564
      View Details
    • $249,900

      Sterling Land with Extensive Frontage

      Conforming lot in a country location with town water access.
      Boutelle Rd, Sterling, MA 01564
      View Details
    • $799,900
      0.00 Acres

      Mixed-Use Development Opportunity in Sterling

      5.3-acre mixed-use land parcel with development potential.
      223 Worcester Rd, Sterling, MA 01564
      View Details
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    240 Worcester Rd
    Sterling, MA 01564
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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
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