13 Pleasant St Spencer, MA 01562-2032
- Turn key restaurants
- 1,368 SF
- 0.52 lot acres
Current Use by Public Records
- Allens Bathroom Remodeling of Spencer / Bathroom Remodeler
- Domino's Pizza / Pizza Restaurant / Pizza Takeout
Property Details for 13 Pleasant St
- Year built
- 1988
- Construction
- FRAME
- Lot size
- 0.52 lot acres
- Property size
- 1,368 SF
- Property type
- Turn key restaurants
- APN
- SPEN M:00U13 B:00102 L:00000
- APU
- SPENM00U13B00102L00000
Description
This exceptional investment opportunity presents a 1,368 square foot Domino's Pizza restaurant located at 13 Pleasant Street in Spencer, Massachusetts. The property, built in 1988 and extensively renovated in 2020, boasts a modern "pizza theater" design, offering carryout, delivery, and a convenient pickup window. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $51,666, representing a 6.00% capitalization rate. The asking price is $861,104, translating to $629.46 per square foot. The NNN lease with a multi-unit franchisee (15 total locations) extends until January 31, 2032, providing approximately 7.5 years of remaining lease term. The lease is personally guaranteed by the owner of the franchisee, Spencer Pie Company, Inc., which assumed the lease on August 28, 2023. This prime retail location benefits from high visibility and ample parking, situated adjacent to major retailers like Price Chopper and CVS Pharmacy in the heart of Spencer. The town's strategic proximity to Worcester and its concentration of major retail establishments further enhance the property's value and potential for long-term growth. The 0.52-acre lot ensures ample space for operations and future expansion. This is a rare opportunity to acquire a stable, high-performing investment property with a strong tenant and favorable lease terms.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $435,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $470,000
- 6.5%
- $405,000
- 7%
- $400,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $420,000
- Geo Method
- $375,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $400,000
- Retail
- $415,000
- Mixed-Use
- $485,000
- Hospitality
- $430,000
- Educational
- $485,000
- Residential Income
- $360,000
- Energy
- $410,000
- Income-Based Land
- $365,000
- Food Service
- $430,000
Location Insight
- Map
- Local Demand
- City
- Spencer
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.9953
- Latitude
- 42.2447
- CBSA code
- 49340
- CBSA name
- WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA
