1030 Central StLeominster, MA 01453

Property Details for 1030 Central St

Year built

1955

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.55 AC

Property size (Sq ft)

4,534 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

LEOM M:0317 B:0008 L:0000

APU

LEOMM0317B0008L0000

Description

This exceptional commercial property, located at 1030 Central Street in Leominster, Massachusetts, presents a unique investment opportunity. The 0.55-acre lot encompasses a 4,534 square foot building, previously operating as a successful restaurant and bar. The property boasts ample parking, catering to the high volume of traffic on Route 12, a busy thoroughfare. The interior features a fully equipped kitchen, ready for immediate use, a substantial bar area perfect for entertaining, a walk-in cooler for efficient food storage, a stage ideal for live performances or events, and a dedicated pool room complete with tables. Its strategic location on the south side of Route 12 places it directly across from a large strip mall, ensuring high visibility and foot traffic. The property's history as a thriving business speaks to its potential for continued success under new ownership. While interior photos are forthcoming, the existing infrastructure and prime location make this a compelling investment opportunity in a vibrant commercial area of Worcester County. The asking price is $700,000. This property is zoned for commercial use and offers significant potential for a variety of businesses. The property is located in zip code 01453.

• CAP approach

  CAP return

  Valuation

  6%

  $1,101,920

  6.5%

  $1,017,157

  7%

  $944,503

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,492,879

  Geo Method

  $1,492,879

• Alternative Use

  Use

  Valuation

  Residential

  $858,010

  Hospitality

  $785,933

  Educational

  $653,887

  Medical

  $676,375

  Retail

  $1,017,157

Location Insight

City

Leominster

County

Worcester

State

Massachusetts

Latitude

42.4998

Longitude

-71.7445

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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