369 River StFitchburg, MA 01420

Property Details for 369 River St

Year built

1980

Construction

FRAME

Lot size

0.59 AC

Property size (Sq ft)

130 SF

Zone code

C

Property type

Retail properties

Property subtype

Other automotive properties

APN

FITC M:0038 B:0027 L:C

APU

FITCM0038B0027LC

Description

This exceptional investment opportunity presents a thriving used car sales business located at 369 River St, Fitchburg, MA 01420. The property encompasses a 25,601 square foot lot on a 0.587-acre parcel, currently licensed to hold 50 vehicles, with potential to expand to 130. The business is a year-round operation, offering significant income potential. The asking price of $50,000 includes the business, goodwill, and client list. The land is available via a ground lease commencing June 1st, 2024, under a net lease agreement. The property is zoned C and features a single-story building. This is a single-tenancy property with an occupancy date of June 1st, 2024. The vehicles currently on the lot are negotiable separately. A confidentiality agreement is required to access detailed financial information. This is a net lease investment opportunity with significant upside potential for the right buyer. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $31,595

  6.5%

  $29,164

  7%

  $27,081

• Comparable approach

  Method

  Valuation

  Relative Method

  $42,804

  Geo Method

  $42,804

• Alternative Use

  Use

  Valuation

  Residential

  $24,601

  Hospitality

  $22,534

  Educational

  $18,748

  Medical

  $19,393

  Retail

  $29,164

Location Insight

City

Fitchburg

County

Worcester

State

Massachusetts

Latitude

42.5823

Longitude

-71.8202

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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