For Sale
$975,000

42 Lake AveWorcester, MA 01604

Prime Worcester location, value-add opportunity

Overview

Added:
Dec 11, 2024
Days on market:
125
This three-story, 8,168 square foot traditional office building at 42 Lake Ave, Worcester, MA 01604, is offered for sale at $975,000. Built in 1960, the property sits on a 0.33-acre lot and is zoned BL-1. Currently housing two tenants on at-will leases, this presents a compelling opportunity for owner-occupancy or value-add investment. The building features 28 off-street parking spaces and enjoys a highly desirable location near major roadways including Route 9, Route 20, I-290, and I-190, providing easy access to the region's transportation network. Its proximity to UMass Memorial Medical Center's University Campus and UMass Chan Medical School, along with nearby amenities such as restaurants, banks, and shopping centers at Shrewsbury Street, White City Plaza, Lakeway Commons, and Quinsigamond Plaza, further enhances its appeal. This property offers a unique blend of convenience, accessibility, and potential for significant return on investment. The building's multi-tenant occupancy provides immediate cash flow, while the at-will leases offer flexibility for future development and repositioning. This is an exceptional opportunity to acquire a well-located office building in a thriving market.

Highlights

  • Three-story, 8,168 sq ft office building in Worcester, MA for sale at $975,000.
  • Built in 1960 on a 0.33-acre lot, zoned BL-1.
  • Two tenants on at-will leases; ideal for owner-occupancy or value-add.
  • 28 off-street parking spaces and excellent access to major roadways (Routes 9 & 20, I-290 & I-190).
  • Desirable location near UMass Memorial Medical Center, UMass Chan Medical School, and numerous amenities.

Property Details for 42 Lake Ave

Property type
Office properties
Square Feet
8,168 SF
Year Built
1960
Stories
3
Lot Size (sq. ft)
14,375 SF

Location Insight

City
Worcester
County
Worcester
State
Massachusetts
Latitude
42.272326860163
Longitude
-71.759174204588
42 Lake Ave, Worcester, Massachusetts

FAQs

What type of property is this?
Office property - Prime Worcester location, value-add opportunity
Where is the office property located?
The property is located at 42 Lake Ave Worcester, MA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Three-story, 8,168 sq ft office building in Worcester, MA for sale at $975,000.; Built in 1960 on a 0.33-acre lot, zoned BL-1.; Two tenants on at-will leases; ideal for owner-occupancy or value-add.
How can I contact the broker?
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42 Lake Ave
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