Retail Storefront with High-Volume
For Sale
Contact for pricing
632 Park Ave, Worcester, MA 01603
Retail storefront on a heavily traveled corridor at Park Avenue and Main Street with signage visibility and steady daily traffic.
Property Size5,479 SF
Price / SF$269.21
Days on Market49
Property Features for 632 Park Ave
General Information
Standard status
Active
Size
5,479 SF
Property subtype
RETAIL
Site & Location
Traffic Count
19,561 vehicles/day
Highway Access
Yes
Listing Agency:
NAI Glickman Kovago & Jacobs
(508) 769-5007
Listed By:
James Glickman · License ##9001209
Source:
Moodyscre
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 26 at 7:02AM
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.
632 Park Avenue is a retail storefront located at the intersection of Park Avenue and Main Street in the Webster Square area of southwest Worcester. The asset benefits from strong street frontage, signage visibility, and steady consumer traffic along a dense, established retail corridor.
Park Avenue (Route 9) carries 19,561 ADT, while Main Street carries 16,567 ADT, supporting consistent daily activity at this intersection. Route 9 provides connectivity between Webster Square and downtown Worcester, with I-290, I-90, and Route 12 also within close reach.
The surrounding retail trade area is described as anchored by national and regional tenants, with Webster Square Plaza and Mill Street Plaza at the intersection. Clark University serves as an immediate area anchor, contributing to the student and institutional draw in the market.
Park Avenue (Route 9) carries 19,561 ADT, while Main Street carries 16,567 ADT, supporting consistent daily activity at this intersection. Route 9 provides connectivity between Webster Square and downtown Worcester, with I-290, I-90, and Route 12 also within close reach.
The surrounding retail trade area is described as anchored by national and regional tenants, with Webster Square Plaza and Mill Street Plaza at the intersection. Clark University serves as an immediate area anchor, contributing to the student and institutional draw in the market.
Key Highlights
- Retail storefront on Park Avenue (Route 9) and Main Street at Webster Square in southwest Worcester
- Strong frontage and signage visibility on a dense, established retail corridor
- Heavy daily traffic: 19,561 ADT on Park Avenue (Route 9) and 16,567 ADT on Main Street
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
$75,306
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
5.11%
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%
$1,506,120
$1.5M
Cap Rate 7%
$1,075,800
$1.1M
Cap Rate 9%
$836,733
$836.7K
Market Conditions
NOI Build-Up for 5,479 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
$115.1K $21.00/SF
− Vacancy
−$7.5K −$1.37/SF
EGI
$107.6K $19.64/SF
− OpEx
−$32.3K −$5.89/SF
NOI
$75.3K $13.74/SF
Area
Worcester, MA
Vacancy
6.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,506,120
Cap Rate 7%
$1,075,800
Cap Rate 9%
$836,733
Alternative Uses
Best Use
Retail
$1.08M
$941.3K – $1.26M
NOI $75,306 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $128,014 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,561 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
197k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 40%
Groceries 10%
Home Improvements & Furnishings 6%
McDonald's
Dining
33,435 visits/mo
0.5 miles
Price Chopper Supermarkets
Groceries
18,977 visits/mo
0.4 miles
Burger King
Dining
15,444 visits/mo
0.2 miles
Dollar Tree
Shops & Services
13,487 visits/mo
0.1 miles
ScrubaDub Car Wash
Shops & Services
13,171 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail storefront on a heavily traveled corridor at Park Avenue and Main Street with signage visibility and steady daily traffic.
Where is this retail space located?
The property is located at 632 Park Ave Worcester, MA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Retail storefront on Park Avenue (Route 9) and Main Street at Webster Square in southwest Worcester; Strong frontage and signage visibility on a dense, established retail corridor; Heavy daily traffic: 19,561 ADT on Park Avenue (Route 9) and 16,567 ADT on Main Street
