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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0BEDS
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0.15ACRES
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0BATHS
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01/2 BATHS
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24,739SQFT
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$25$/SQFT
School Ratings & Info
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.
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 2021-03-02T17:07:27.423.