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    62 Wall St Spencer, MA 01562

    For Sale
    $329,900

    Prime Downtown Location, High Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This unique 1879 building, formerly Spencer's Railroad Depot, presents a compelling investment opportunity in Spencer's thriving downtown. Situated on a 0.22-acre lot on one of the fastest-growing streets, this property benefits from the recent influx of new businesses including a barber shop, spa, framing shop, print shop, and restaurant, complementing existing anchors like a pizza shop and flower shop. The building boasts significant character and versatile space, ideal for a variety of uses. The first floor, completely renovated and handicap accessible, features a large 882 sq ft dance studio with sprung floor, a smaller 276 sq ft dance studio, and an office, along with two large half-bathrooms. Upgrades include updated heating and AC, electrical systems, and a new roof on the two-story section, plus some new windows. A 1969 addition provides two extra floors of space. Currently, the property includes two long-term tenants, offering immediate income generation. The potential exists to add another rental unit, further increasing profitability. Off-street parking is available on both sides of the building. This property is priced at $329,900 and offers a rare chance to own a piece of Spencer's history while capitalizing on its vibrant commercial growth.

    Property Features for 62 Wall St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    9,583 SF

    Building Details

    Year Built
    1879
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dance Techniques Dance School

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.99354
    Latitude
    42.24238

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Downtown Location, High Potential
    Where is this commercial real estate located?
    The property is located at 62 Wall St Spencer, MA.
    What is the asking price?
    The asking price for this property is $329,900.
    (508) 867-2800
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    62 Wall St Spencer, MA 01562
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