340 Main Street_Propiedad en venta
340 Main Street_Propiedad en venta

340 Main Street

340 Main St, Worcester, MA, 01608-1604, US

Descripción

JLL has been exclusively retained to present the opportunity to invest in 340 Main Street, a historic 333,302 SF, 9-story former office building in downtown Worcester, Massachusetts. Originally constructed in 1897 as home to the State Mutual Life Assurance Company of America, this architectural landmark designed by renowned firm Peabody and Stearns stands as Worcester's first skyscraper. The property is positioned for conversion to 312 residential units with 479 basement storage units accessible via the alleyway.


This premier investment opportunity sits in a federally approved Opportunity Zone with substantial tax incentives totaling approximately $28.7 million through HDIP and Federal and State Historic Tax Credits. The development-ready property includes 120+ parking spaces across two lots that can serve as parking or future development sites. With flexible BG-6 zoning allowing multiple uses including residential, retail, office, and storage, all necessary approvals are already in place, including historic designations and building permits, allowing the project to commence immediately.


Located in Worcester's urban core—an affordable alternative to Boston that has evolved into a thriving hub for medical and educational institutions—the project offers investors the chance to participate in the ongoing transformation of New England's second-largest city while preserving a significant piece of architectural heritage.

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Atributos

Unidades
312
Pisos
9
Superficie neta construida
30.965 m²
Superficie neta del terreno
0,47 ha
Año de construcción
1897

Media

Aspectos destacados de la inversión

  1. Vacant office building at 340 Main Street planned for 312-unit mixed-use redevelopment
  2. Located in federally approved Opportunity Zone offering economic incentives
  3. $28.7MM of estimated tax incentives (tax credits & tax abatement)
  4. Heart of Downtown Worcester with easy access to I-290 and Union Station
  5. Sale includes three additional land parcels in growing urban core
  6. Strong rental market trends favor investor success
  7. Minutes from restaurants, shops, Polar Park, and Canal District amenities


340 Main Street 4_Propiedad en venta
340 Main Street 4_Propiedad en venta

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340 Main Street (0 Propiedades)

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Última actualización
12 de jun de 2025