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340 Main St
Worcester, MA 01608

Price Upon Request

Office Residential For Sale  •  363,909 SF

Property Details

  • Property Type Office Residential
  • Total Building Size 381,368 SF
  • Lot Size 1.18 AC
  • Building Class B
  • Year Built 1897
  • Tenancy Multiple
  • Zoning BG-6
59 Transit Score
92 Walk Score

Highlights

$31.9M Incentive Stack Reducing Equity Requirement
15-Year Tax Increment Exemption (TIE): Approved by Worcester City Council and projected to generate approximately $5.7M in real estate tax savings.
Federally Designated Opportunity Zone: Provides capital gains deferral and potential tax-free appreciation benefits for qualified investors.
Advanced Pre-Development Status: Architectural planning completed with building permit able to be reactivated through fee payment & documentation.
523-Unit Self-Storage Component: Approximately 13,800+ SF basement storage facility projected to generate $300K–$380K NOI annually.
Institutional-Scale 312-Unit Development: One of the largest entitled multifamily redevelopment opportunities in Downtown Worcester.

Amenities

  • Property Manager on Site

Public Transportation

Commuter RailDriveWalkDistance
2 min 10 min 0.5 mi
Worcester (Framingham/Worcester Line - Massachusetts Bay Transportation Authority Commuter Rail (Purple Line)) 2 min 14 min 0.7 mi
Transit/SubwayDriveWalkDistance
Worcester (Framingham/Worcester Line - Massachusetts Bay Transportation Authority Commuter Rail (Purple Line)) 2 min 15 min 0.8 mi
AirportDriveWalkDistance
Worcester Regional 12 min - 5.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 320
Type: Surface
Included in Rent: Yes
Craig Dunkle 717-554-4881 SCOPE
Craig Dunkle 717-554-4881 SCOPE