35 State Rd Phillipston, MA 01331

Property Details for 35 State Rd

Lot size

4.68 lot acres

Zone code

B

Property type

Commercial real estate

APN

PHIL M:00033 L:00046

APU

PHILM00033L00046

Description

This exceptional hospitality investment opportunity presents a well-established restaurant and motel in Phillipston, Massachusetts. The property, built in 1950 and extensively renovated in 2022, encompasses 5 acres and features three buildings with a total of 5,000 square feet. The motel boasts 12 modern guest rooms, each equipped with wall-to-wall carpeting, cable TV, and air conditioning. A mix of queen and double beds are available, along with cots. All rooms are non-smoking and include daily maid service, offering affordable daily, weekly, and monthly rates. The adjacent restaurant serves traditional American cuisine, specializing in chicken, veal, beef, and Italian dishes. It also features a cozy lounge with a 12-tap microbrew selection, a full bar, and live entertainment on Friday and Saturday nights. The restaurant has a successful banquet business and caters to groups of 10 to 100. Ample parking is available, accommodating even tractor-trailer trucks. The property's location on Route 2 provides convenient access and significant potential for future expansion. The asking price is $1,525,000, with a Net Operating Income (NOI) of $184,203 and a 12.08% cap rate. The property is zoned commercial and offers significant potential for increased revenue with hands-on management and targeted marketing. This turnkey operation includes stable management and staff, ensuring business continuity. Seller financing may be considered for qualified buyers.

Location Insight

City

Phillipston

County

Worcester

State

Massachusetts

Longitude

-72.1313

Latitude

42.5691

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments