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    17-27 Pleasant

    Worcester, MA 01608
    • $609,999
    • STATUS: Active
    • MLS #: 72771254
    UPDATED: 41 min ago
    $609,999
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 24,739
      SQFT
    • $25
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1890
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Scott Dennett of Keller Williams Realty Leading Edge.

    Description

    **CURRENT INCOME (+) UPSIDE** Priced to sell at (10%) above city assessment, exceptional investment opportunity to participate in Worcester's post Covid-19 resurgance. Historic, currently shuttered and developable, the 4-story Olympia Theatre/Music Hall (1,300 seat capacity), is located in Worcester's downtown opportunity zone and included in the Worcester Redevelopment Auhtority's Urban Revitalization Plan. Currently producing a (5%) cash-on-cash annual income from a Class A street level, triple-net lease - earn more by bringing (2nd) street-level retail space back online - great upside from renovated music hall performance revenue. Sizeable federal and state grants available for Theatre/Music Hall renovation. Up to $30,000 of City of Worcester Downtown Facade Grant Program funds available.

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    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2021-03-06T22:06:53.563.
    www.livecharlesgate.com/homes/113002045
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    17-27 Pleasant Worcester, MA 01608

    • Price: $609,999
    • Status: Active
    • Updated: 41 min ago
    • MLS #: 72771254
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    24,739
    SQFT
    $25
    $/SQFT
    1890
    Built
    Neighborhood:
    Other
    County:
    Worcester
    Area:
    Other
    Property Description
    **CURRENT INCOME (+) UPSIDE** Priced to sell at (10%) above city assessment, exceptional investment opportunity to participate in Worcester's post Covid-19 resurgance. Historic, currently shuttered and developable, the 4-story Olympia Theatre/Music Hall (1,300 seat capacity), is located in Worcester's downtown opportunity zone and included in the Worcester Redevelopment Auhtority's Urban Revitalization Plan. Currently producing a (5%) cash-on-cash annual income from a Class A street level, triple-net lease - earn more by bringing (2nd) street-level retail space back online - great upside from renovated music hall performance revenue. Sizeable federal and state grants available for Theatre/Music Hall renovation. Up to $30,000 of City of Worcester Downtown Facade Grant Program funds available.
    Exterior Features

    Location DowntownCentral Business District Parking Spaces 0 Stories 4

    Interior Features

    Maf Building Sq Ft 0.00 Ref Building Sq Ft 0.00 Rsf Building Sq Ft 0.00 Total Building Sq Ft 24739.00 Waf Building Sq Ft 0.00

    Property Features

    Assessed Value Building 446900.00 Assessed Value Land 108300.00 Assessed Value Total 555200.00 Commercial Industrial Type Commercial Condo Association No Disclosure No Exchange No Gross Annual Expense 20625.00 Gross Annual Income 50688.00 Lease No Lender Owned No Mau Units 0 Net Operating Income 30063.00 Ofu Units 0 On File21 E No Reu Units 3 Rsu Units 0 Short Sale Lender App Required No Space Available For Sale Special Financing No Sublet No Tax Year 2020 Taxes 19500.00 Total Units 3 Utilities Public WaterPublic SewerNatural Gas Wau Units 0 Year Built Source Pr Zone Description Legal Conforming Zoning Bg-6

    Listing information © 2021 MLS Property Information Network. All information is deemed reliable but should be independently verified.
    Listing provided courtesy of Scott Dennett of Keller Williams Realty Leading Edge.


    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2021-03-06T22:06:53.563.
     
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    Charlesgate Realty Group
    867 Boylston Street, Fl 3
    Boston MA, 02116
    Listing courtesy of Scott Dennett of Keller Williams Realty Leading Edge.