318 Shrewsbury StWorcester, MA 01604

Property Details for 318 Shrewsbury St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.09 AC

Property size (Sq ft)

3,038 SF

Zone code

BG-2

Property type

Retail properties

Property subtype

Auto shops

APN

WORC M:16 B:019 L:00043

APU

WORCM16B019L00043

Description

This exceptional investment opportunity presents a 5,200 square foot auto shop located at 318 Shrewsbury Street in Worcester, Massachusetts. The property boasts a prime location on Shrewsbury Street, offering convenient access to Route 9, I-290, and Worcester's Central Business District. Currently occupied by a national franchise, Auto Glass Now!, under a triple-net (NNN) lease with four years remaining, this single-tenant property guarantees a stable income stream. The building sits on a 9,732 square foot lot and is zoned BG-2. Significant improvements were recently completed by both the owner and tenant at the beginning of 2023, enhancing the property's value and appeal. With 100% occupancy and a compelling 7.00% cap rate, this property offers a strong return on investment. The asking price is $1,200,000. This is a turnkey investment opportunity with a long-term lease in place, minimizing management responsibilities and maximizing potential returns. The property's strategic location and strong tenant ensure a secure and profitable investment for years to come. This is a rare opportunity to acquire a high-performing asset in a thriving Worcester market.

• CAP approach

  CAP return

  Valuation

  6%

  $738,340

  6.5%

  $681,545

  7%

  $632,863

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,000,302

  Geo Method

  $1,000,302

• Alternative Use

  Use

  Valuation

  Residential

  $574,908

  Hospitality

  $526,613

  Educational

  $438,136

  Medical

  $453,204

  Retail

  $681,545

Location Insight

City

Worcester

County

Worcester

State

Massachusetts

Latitude

42.2694

Longitude

-71.7793

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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