Shrewsbury Street retail property sold for $975K

A corner retail property at 169 Shrewsbury St. in Worcester was sold at the end of March for $975,000.

Premier Investment Properties LLC  of Worcester bought the property from Worcester-based Leo Lyons Realty LLC, according to the Worcester District Registry of Deeds.

Michael Ermani of Premier Investment Properties did not return a request for information about what his plans are for the property, but the building is currently undergoing exterior restoration and is listed online for lease as a restaurant or retail location.

The property was most recently home to A.L.F. Floors, which moved in February to 360 Hartford Turnpike in Shrewsbury. 

The property was last purchased by Albert Panarelli in 1991 for $250,000. In 2000, the deed to the property was transferred to Leo Lyons LLC, which belongs to the family of the late restaurateur Leo Turo. The property is assessed by the City of Worcester at $311,300.

Ermani purchased 11 Leo Turo Way, the home of Leo’s Ristorante, and an apartment complex on Sunderland Road in 2021. 

In 2022, Premier Investment Properties bought a former restaurant property, home to Chioda’s Trattoria at 631 Franklin St. in 2022 for $700,000, and got it permitted for redevelopment into a multifamily apartment complex. The property is currently listed for $1.5 million.