Single-Tenant Restaurant NNN Ground
632 Park Avenue Worcester, MA 01603
632 Park Avenue, Worcester, MA, 01603
$1,475,000
For Sale
$1,475,000
Applebee’s is leased on an absolute NNN ground lease with tenant responsibility for taxes, insurance, maintenance, and repairs.
Lot Size1.03 Acres
Days on Market10
Property Features for 632 Park Avenue
General Information
- Standard status
- Active
- Lot size
- 1.03 Acres
- Property subtype
- Retail - Street Retail
Building Details
- Year Built
- 1999
Listing agency
NAI Glickman Kovago & Jacobs
(508) 769-5007
Listed by
James Glickman · License ##9001209
Source
Commercialcafe
Added: Jul 13 Updated: Jul 22 at 6:23AM Checked: Jul 22 at 6:23AM
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 passive, single-tenant restaurant property leased to Applebee’s on an absolute NNN ground lease. The tenant assumes all obligations, including taxes, insurance, maintenance, repairs, and replacements, leaving the landlord with zero management responsibility and zero capital expenditure exposure. The lease is guaranteed by Apple New England LLC/The Flynn Group, with the current term running through January 2030 and followed by four 5-year renewal options that extend potential occupancy to 2045.
The property is located in the Webster Square area of southwest Worcester at the intersection of Park Avenue and Main Street, with Park Avenue designated as Route 9. The corridor supports established retail activity, and the intersection location provides strong frontage and signage visibility.
The building was renovated in 2023 and sits on a 1.03-acre parcel within the dense Webster Square retail corridor, where single-tenant restaurant pads are tightly held.
The property is located in the Webster Square area of southwest Worcester at the intersection of Park Avenue and Main Street, with Park Avenue designated as Route 9. The corridor supports established retail activity, and the intersection location provides strong frontage and signage visibility.
The building was renovated in 2023 and sits on a 1.03-acre parcel within the dense Webster Square retail corridor, where single-tenant restaurant pads are tightly held.
Key Highlights
- Absolute NNN ground lease to Applebee’s; tenant responsible for taxes, insurance, maintenance, repairs, and replacements.
- Lease term runs through January 2030 with four 5‑year renewal options extending potential occupancy to 2045.
- Rent escalates 5% every five years, increasing from $95,721 today to $116,349 at full term.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Applebee’s is leased on an absolute NNN ground lease with tenant responsibility for taxes, insurance, maintenance, and repairs.
Where is this conventional restaurant located?
The property is located at 632 Park Avenue 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: Absolute NNN ground lease to Applebee’s; tenant responsible for taxes, insurance, maintenance, repairs, and replacements.; Lease term runs through January 2030 with four 5‑year renewal options extending potential occupancy to 2045.; Rent escalates 5% every five years, increasing from $95,721 today to $116,349 at full term.
