This is a rare opportunity to own a prime piece of real estate in the center of Worcester. The first floor is a restaurant and floors 2-4 can be residential units or an expansion of the restaurant. Being the only Chinese restaurant in downtown Worcester, the Great Wall has been the go-to place for Chinese food not only to people working in downtown area, but also for tourists and those going to various events in the Hanover Theater on the next block. The Polar Park, less than 0.5 mile away, also helps to drive up the revenue. A significant renovation was completed in 2019 including building the entire back wall, the HVAC system, the fire prevention system, and more. Further, an architectural drawing has been made for two large residential units. The upper unit, spanning the 3rd and the 4th floors, has 4 BRs with 3.5 baths. The unit on the 2nd floor has three BRs and two full baths. You can also make the entire building a fancy multifunctional restaurant and/or for other creative use.
521 Main St, Worcester, MA, 01608
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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