Development Opportunity | Worcester, MA

29 Lyon St Worcester, MA 01604

29 Lyon St, Worcester, MA, 01604
29 Lyon St, Worcester, MA, 01604 29 Lyon St, Worcester, MA, 01604 29 Lyon St, Worcester, MA, 01604 29 Lyon St, Worcester, MA, 01604
FOR SALE
Property Type:
Warehouse
Amount:
$825,000
Last Verified:
Nov 27, 2024

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Description

Vibrant Worcester Mass Shrewsbury Street Area-and close to Umass-Chang Medical School and Hospital--Masonry with post and beam flat roof construction 9,043 SF plus an adjoining yard of approximately 1000 SF---Building being sold as is---needs a roof repair of approximate a 35 x35 section that collapsed during the March 14, 2023 heavy snow storm---The building has been inspected by a structural engineer and is structurally sound with the recommendation that gussets be installed at beam joining points for added stability.

Uncover the potential of Worcester, MA, a prime location for industrial development. The property is situated in an area known for its strong industrial presence, offering excellent transportation infrastructure and access to major highways. Worcester's strategic position in New England's industrial landscape makes it an ideal choice for investors and developers seeking to capitalize on the city's industrial growth. With a skilled workforce, proximity to logistics hubs, and a supportive business environment, the area provides a compelling opportunity for industrial building development.


Year Built: 1955
Building Size: 9043sq ft
Lot Size: 0.2 acres


Documents

Redevelopment Opportunity | Worcester, MA

Map of 29 Lyon St, Worcester, MA, 01604

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.