Leicester, MA Development

1003 Main Street, Leicester, MA 01524 is an established men’s recovery residence located in Worcester County, Massachusetts. The property is offered for sale at $1,200,000 and consists of approximately 4,888 square feet configured for a 30-bed recovery housing use.

The property has already been repositioned for use as a recovery residence. According to the offering memorandum, the renovation and layout work contemplated under the original development plan have been completed, creating a functional, high-capacity residential environment designed for structured recovery housing operations.

Unlike a development or heavy renovation opportunity, this offering is centered on acquiring a stabilized or near-stabilized operating asset. The physical redevelopment is substantially complete, and the property’s core infrastructure is already in place. The memo describes the asset as well suited for recovery housing operators seeking an existing home, mission-driven investors seeking purpose-driven real estate, and buyers seeking operating income with potential expansion upside.

Key property details include:

• Address: 1003 Main Street, Leicester, MA 01524
• Asking Price: $1,200,000
• Property Type: Men’s recovery residence
• County: Worcester County, MA
• Building Size: 4,888 sq. ft.
• Service Capacity: 30 beds
• Room Mix: 4 private beds and 26 shared beds
• Projected Stabilized Recovery Housing Value: Approximately $1,200,000
• Residential Fallback Value Without Lease: Approximately $800,000
• Projected Annual Lease Revenue: $102,000
• Projected Facility NOI: $99,800

The property may be appropriate for a buyer seeking an income-producing recovery housing asset with completed improvements, established residential configuration, and a purpose-built operating model. The offering memorandum values the property primarily using the income approach, reflecting its projected income-producing capacity under a structured lease to a qualified operator.