240 Worcester Road Sterling — Photo 1 of 15
$799,000
Investment Analysis — 240 Worcester Road
Sterling, MA 01564
Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a home in 01564 carries an estimated $1,610/mo in gross rent — about a 1.08% cap rate and $8,593/yr in estimated NOI at the $799,000 list price. Adjust every assumption in the calculator below.
Beds
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SqFt
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Style
Other
Built
1908
A Fantastic Development Opportunity Awaits! A 40B project would be ideal. Discover the historic Sterling Inn, ideally situated at the base of Mt. Wachusett and offering incredible potential for redevelopment or restoration. This iconic property sits on 1.6 acres and boasts nearly 12,000 sq ft of interior space. Included in the sale is the adjacent 3.7-acre mixed-use lot located at 223 Worcester Road, providing a total of 5.3 acres for your vision. Both 240 & 223 Worcester Road are deeded together, offering a rare chance to reimagine this landmark. Whether you’re looking to restore the existing structure, develop townhomes or condos, or create a mixed-use community with residential and retail components, this property is brimming with opportunity. Just minutes from hiking, skiing, and outdoor adventure, this location combines small-town charm with big development potential.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Geography
Property History
$799,000
Was $500,000
Jun 17, 2026
MLS® 73383543
$500,000
Was $799,900
Mar 2, 2026
MLS® 73383543
$799,900
Jun 2, 2025
MLS® 73383543
$844,900
May 17, 2025
MLS® 73171928
$844,900
Oct 18, 2023
MLS® 73171928
$700,000
Sep 30, 2010
MLS® 70925276
$700,000
May 28, 2009
MLS® 70925276
Listing Agent: The Espinola Group
Listing Office: Keller Williams Realty-Merrimack
MLS® Number: 73383543