1191 Millbury St Worcester, MA 01607-1414
- Retail space
- 9,723 SF
- 1.38 lot acres
Current Use by Public Records
- 24/7 Plumbers / Plumber
- Resinate Dispensary / Cannabis Store
Property Details for 1191 Millbury St
- Year built
- 1998
- Construction
- STEEL FRAME
- Lot size
- 1.38 lot acres
- Property size
- 9,723 SF
- Zone code
- MG-1
- Property type
- Retail space
- APN
- WORC M:31 B:003 L:002+3
- APU
- WORCM31B003L0023
Description
This exceptional investment opportunity presents a 9,723-square-foot flex space building located at 1191 Millbury Street in Worcester, Massachusetts. The property, built in 1998, is a Class B, two-story structure situated on a 1.38-acre lot and zoned MG-1. Currently 100% occupied by a single tenant under a Net Net Net (NNN) lease expiring May 30, 2029, this property offers a secure, long-term investment. The lease includes rent bumps, ensuring consistent income growth. The building features 20 parking spaces and benefits from excellent highway access, less than half a mile from Route 146, with easy access to I-90, Route 20, and I-290. This prime location boasts a strong demographic profile, serving a 10-mile population of 400,000 with an average household income of $104,000. The tenant, Resinate Dispensary, has operated successfully at this location since 2019, benefiting from the proximity to major retailers like Walmart, Gamestop, GNC, and Greatclips. The asking price for this fee-simple ownership opportunity is $3,100,000. This is a core NNN investment with a five-year lease term providing stability and potential for appreciation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.7837
- Latitude
- 42.2214
- CBSA code
- 49340
- CBSA name
- WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA
