Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 56 Sterling St. This historic manufacturing/mill building has been fully entitled for cannabis cultivation with a tier 11 cultivation license. Originally constructed in 1910, this historic mill building sits on 3.89 acres in Downtown Clinton, Massachusetts. Ownership has already begun renovations and completed all necessary environmental cleanup. The community host agreement and special permit will be transferred with the property. 56 Sterling St is well-located in downtown Clinton, an area primed for substantial growth. 39 apartments were delivered immediately across Sterling St in 4Q2021 and several hundred more are currently under construction. The location offers proximity to both downtown Worcester (15 miles) and Boston (36 miles). Hybrid work schedules have grown the pool of potential residents in the area since 2020. This asset is ideal for cannabis cultivation, industrial, self-storage, artist lofts, or residential conversion utilizing historic tax credits.