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    82 Wheelock Ave Millbury, MA 01527

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    For Sale
    $1,100,000

    Profitable turn-key restaurant and lounge-bar with loyal customers.

    Lot size:
    1.42 Acres

    Property Features for 82 Wheelock Ave

    General Information

    Lot size
    1.42 Acres

    Building Details

    Year built
    1946

    Source: Park Place Realty Enterprises Agent Karynsue Marchione-Reilly

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turn-Key Restaurant and Lounge-Bar

    This is a profitable, turn-key restaurant and lounge-bar located in the outskirts of Worcester/Millbury Community. The restaurant is known for its comfort food, lobsters, fresh seafood, and a friendly neighborhood bar atmosphere with loyal customers. The business has demonstrated year-over-year growth, even during challenging times. It features proprietary recipes, patio seating, and picturesque views. Amenities include a horseshoe bar, lottery, entertainment license, outdoor dining, full-service catering with a truck, a full clean kitchen, walk-in coolers, and a lobster tank. Renovations were completed in 2007. The sale includes additional land. The landmark establishment has a full liquor license and full menu.
    Insight Report Location Intelligence

    Current Use by Public Records

    Wheelock inn Restaurant

    Suggested Use

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

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

    Similar Places Nearby

    Bird's Nest Italian Street Food

    Location Insight

    • Map
    • Local Demand
    City
    Millbury
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.7491917
    Latitude
    42.2208892

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    FAQs

    What type of property is this?
    Restaurant - Profitable turn-key restaurant and lounge-bar with loyal customers.
    Where is this restaurant located?
    The property is located at 82 Wheelock Ave Millbury, MA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Turn-key, profitable restaurant and lounge-bar with loyal customer base.; - Proven year-over-year growth, even during COVID-19.; - Award-winning with proprietary recipes.
    (508) 410-8464
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    82 Wheelock Ave Millbury, MA 01527
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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
    82 Wheelock Ave Millbury, MA 01527
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