13 Pleasant StSpencer, MA 01562

Property Details for 13 Pleasant St

Year built

1988

Construction

FRAME

Lot size

0.52 AC

Property size (Sq ft)

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.

Location Insight

City

Spencer

County

Worcester

State

Massachusetts

Latitude

42.2447

Longitude

-71.9953

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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