290 Thompson RdWebster, MA 01570

Property Details for 290 Thompson Rd

Year built

1920

Construction

FRAME

Lot size

0.79 AC

Property size (Sq ft)

7,081 SF

Zone code

GB-5 W

Property type

Retail properties

Property subtype

Turn key restaurants

APN

WEBS M:33 B:A P:15

APU

WEBSM33BAP15

Description

This exceptional 7,000-square-foot commercial property, located at 290 Thompson Road in Webster, Massachusetts, presents a unique opportunity for restaurant or retail ventures. The single-tenant building boasts a fully furnished and equipped interior, ready for immediate occupancy. Features include a spacious bar area with ample seating, a sizable dining room, and a fully operational kitchen. A complete inventory of essential equipment is included, from glassware and silverware to tables and chairs, ensuring a seamless transition for new operators. The property benefits from a full liquor license, a significant advantage for prospective restaurateurs. With a rich history as the popular Colonial Restaurant, this establishment enjoys a prime location in the Webster Lake region, easily accessible from Route 395, exit 1. Ample parking is provided with over 200 spaces. Its convenient location near Lake Chargoggagoggmanchauggagoggchaubunagungamaugg and its proximity to the Connecticut border attract a diverse customer base from Webster and the surrounding Thompson area. This turnkey operation is poised for immediate success, offering a rare chance to acquire an established and well-regarded business in a desirable lakeside setting. The property is situated in Worcester County, Massachusetts, with a 01570 zip code.

• CAP approach

  CAP return

  Valuation

  6%

  $1,720,930

  6.5%

  $1,588,551

  7%

  $1,475,083

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,331,513

  Geo Method

  $2,331,513

• Alternative Use

  Use

  Valuation

  Residential

  $1,340,002

  Hospitality

  $1,227,435

  Educational

  $1,021,211

  Medical

  $1,056,332

  Retail

  $1,588,551

Location Insight

City

Webster

County

Worcester

State

Massachusetts

Latitude

42.0332

Longitude

-71.8558

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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