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Warehouse

56 Sterling St

56 Sterling St, Clinton, MA 01510

Listing Price: $4,450,000

Gross SF
191,595
Price/Gross SF
$23.23
Lot Size
3.89 acres
Year Built
1910
Rentable SF
161,799

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 56 Sterling Street, a historic mill that has been permitted for cannabis cultivation. Originally constructed in 1910, this historic mill building currently sits on 3.89 acres. Over the past year, ownership has begun renovations for a proposed cannabis cultivation and processing facility. The property currently has a special permit from the town of Clinton for this use, as well as a Community Host Agreement. Cannabis Control Committee approval is expected in 1Q2022.   The building is the former home of Lloyd & Bouvier, a wire and cable manufacturing business which moved to a different Clinton location in 2019. There are currently two tenants in the building; Consignment Gallery at 56, and McCue & Associates, who occupy a small portion of the facility. The remainder of the building has been kept vacant. The property is well located in Downtown Clinton, an area primed for substantial growth. 39 apartments are being delivered immediately across Sterling Street in 4Q2021 and several hundred more are expected in the coming years. It has great proximity to both Downtown Worcester (15 miles) and Boston (36.5 miles). This asset is ideal for an Owner/User or an investor who would look to redevelop the property into a higher and better use.

Investment Highlights

  • Historic Mill Building Suitable for a Variety of Uses and Possible Redevelopments
  • Located in Opportunity Zone Which Enables Investor to Qualify for Tax Benefits
  • Ownership Has Obtained a Special Permit and Community Host Agreement for a Potential Cannabis Cultivation Facility

Exclusively Listed By

Warehouse

56 Sterling St

Listing Price: $4,450,000

Gross SF
191,595
Price/Gross SF
$23.23
Lot Size
3.89 acres
Year Built
1910
Rentable SF
161,799

Investment Highlights

  • Historic Mill Building Suitable for a Variety of Uses and Possible Redevelopments
  • Located in Opportunity Zone Which Enables Investor to Qualify for Tax Benefits
  • Ownership Has Obtained a Special Permit and Community Host Agreement for a Potential Cannabis Cultivation Facility

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 56 Sterling Street, a historic mill that has been permitted for cannabis cultivation. Originally constructed in 1910, this historic mill building currently sits on 3.89 acres. Over the past year, ownership has begun renovations for a proposed cannabis cultivation and processing facility. The property currently has a special permit from the town of Clinton for this use, as well as a Community Host Agreement. Cannabis Control Committee approval is expected in 1Q2022.   The building is the former home of Lloyd & Bouvier, a wire and cable manufacturing business which moved to a different Clinton location in 2019. There are currently two tenants in the building; Consignment Gallery at 56, and McCue & Associates, who occupy a small portion of the facility. The remainder of the building has been kept vacant. The property is well located in Downtown Clinton, an area primed for substantial growth. 39 apartments are being delivered immediately across Sterling Street in 4Q2021 and several hundred more are expected in the coming years. It has great proximity to both Downtown Worcester (15 miles) and Boston (36.5 miles). This asset is ideal for an Owner/User or an investor who would look to redevelop the property into a higher and better use.

Exclusively Listed By

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