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65 Water Street is a partially stabilized commercial asset in Worcester's Canal District, offering a blend of in-place income and value-add potential. The property generates approximately $55,500 annually from a dance studio tenancy and billboard revenue, with additional upside from a tenant-ready, ground-level space in the rear building. The rear building is intact and occupied, while the front building has been cleared to a clean shell following a prior isolated fire/water event, allowing efficient buildout without demolition. Ownership has completed key capital improvements, including a new roofing system and two new HVAC units. The site includes approximately 22 on-site surface parking spaces and benefits from nearby municipal parking, both of which are valuable amenities in this neighborhood.
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Listing provided by Michael Barbera, BA Property & Lifestyle Advisors
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