365 Main StSturbridge, MA 01566

Property Details for 365 Main St

Year built

2020

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.16 AC

Property size (Sq ft)

4,992 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

STUR M:415 B:000 L:2551-365

APU

STURM415B000L2551365

Description

This exceptional investment opportunity presents a 4,992 sq ft, two-unit retail building in Sturbridge, MA, constructed in 2020. The property boasts a strong 8.09% cap rate and a substantial NOI of $161,482. Anchored by a recreational cannabis dispensary (Local Roots, 2500 sq ft) and a deli/food market (VE Foods, 2400 sq ft), both tenants are under long-term triple-net (NNN) leases, providing stable cash flow. The property also includes a nine-unit manufactured housing community at the rear, with eight of nine units occupied under monthly land leases, offering additional income streams and potential for future growth. The 2.16-acre lot features approximately 50 parking spaces. The property is zoned CD and offers a unique blend of retail and residential income, making it an attractive investment in a desirable location. The building is a single-story structure. This core+ NNN investment presents a compelling opportunity for investors seeking stable, high-yield returns. The property's location in Worcester County, MA, at 365 Main St, zip code 01566, provides excellent access to local amenities and transportation. The asking price is $1,995,000.

• CAP approach

  CAP return

  Valuation

  6%

  $825,327

  6.5%

  $761,840

  7%

  $707,423

• Comparable approach

  Method

  Valuation

  Relative Method

  $652,255

  Geo Method

  $652,255

• Alternative Use

  Use

  Valuation

  Residential

  $944,682

  Hospitality

  $865,323

  Educational

  $719,939

  Medical

  $744,699

  Retail

  $1,119,905

Location Insight

City

Sturbridge

County

Worcester

State

Massachusetts

Latitude

42.1113

Longitude

-72.089

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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