Restaurant Property with Major
For Sale
Contact for pricing
3 Stafford St, Worcester, MA 01603
Freestanding restaurant property with 183 feet of frontage and 42 on-site parking spaces at a prominent intersection in Worcester.
Property Size4,403 SF
Price / SF$442.88
Days on Market369
Property Features for 3 Stafford St
General Information
Standard status
Active
Size
4,403 SF
Total Parking Spaces
42
Property subtype
RETAIL
Site & Location
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Listing Agency:
NAI Glickman Kovago & Jacobs
(508) 753-9100
Listed By:
Alexis "Lexi" Brissette · License #9583327
(508) 868-6182
Source:
Moodyscre
Added: Sep 10, 2025
Changed: Sep 3
Last Checked: Sep 13 at 4:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Glickman Kovago & Jacobs
Investment Insights
Based on property information with market context.
3 Stafford Street is a high-visibility commercial restaurant property currently operating as Moe’s Southwest Grill. The offering includes the restaurant franchise and the real estate, and the property is not restricted to the existing concept, providing flexibility for alternative restaurant use or other commercial ventures.
Located at the prominent intersection of Stafford Street and Main Street in Worcester’s Webster Square neighborhood, the site benefits from daily traffic exceeding 20,000 ADT+ and strong accessibility for customers and commuters. The property also features ample on-site parking with 42 spaces.
With 183 feet of frontage and proximity to major thoroughfares including Route 9, Route 122, and I-290, the location supports convenient regional connectivity and consistent visibility throughout the day.
Located at the prominent intersection of Stafford Street and Main Street in Worcester’s Webster Square neighborhood, the site benefits from daily traffic exceeding 20,000 ADT+ and strong accessibility for customers and commuters. The property also features ample on-site parking with 42 spaces.
With 183 feet of frontage and proximity to major thoroughfares including Route 9, Route 122, and I-290, the location supports convenient regional connectivity and consistent visibility throughout the day.
Key Highlights
- Freestanding restaurant property for sale at the prominent intersection of Stafford Street and Main Street in Worcester’s Webster Square neighborhood
- Home to Moe’s Southwest Grill, and the property is not restricted to the existing concept for alternative restaurant or commercial use
- 183' of frontage on a highly visible, major signalized intersection on Route 9
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,150
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,423,000
$1.4M
Cap Rate 7%
$1,016,429
$1.0M
Cap Rate 9%
$790,556
$790.6K
Market Conditions
NOI Build-Up for 4,403 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$100.4K $22.80/SF
− Vacancy
−$5.5K −$1.25/SF
EGI
$94.9K $21.55/SF
− OpEx
−$23.7K −$5.39/SF
NOI
$71.2K $16.16/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,423,000
Cap Rate 7%
$1,016,429
Cap Rate 9%
$790,556
Alternative Uses
Best Use
Specialty Retail
$1.02M
$889.4K – $1.19M
NOI $71,150 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.71M
NOI $102,874 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
285k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Dining 21%
Groceries 20%
Apparel 16%
Shaw's Supermarket
Groceries
38,375 visits/mo
0.3 miles
Marshalls
Apparel
33,809 visits/mo
0.4 miles
Dollar Tree
Shops & Services
23,834 visits/mo
0.4 miles
Price Chopper Supermarkets
Groceries
18,977 visits/mo
0.4 miles
Burger King
Dining
15,444 visits/mo
0.0 miles
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant property with 183 feet of frontage and 42 on-site parking spaces at a prominent intersection in Worcester.
Where is this conventional restaurant located?
The property is located at 3 Stafford St Worcester, MA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Freestanding restaurant property for sale at the prominent intersection of Stafford Street and Main Street in Worcester’s Webster Square neighborhood; Home to Moe’s Southwest Grill, and the property is not restricted to the existing concept for alternative restaurant or commercial use; 183' of frontage on a highly visible, major signalized intersection on Route 9
