106 Main St - Apartments FOR SALE


Spencer, MA 01562
$1,100,000 USD
508-389-3769
106 Main St, Spencer, MA for Sale
$1,100,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

106 Main St
Spencer, MA 01562


HIGHLIGHTS

  • 10 of 13 residential units and 3 of 4 commercial units are currently tenant-occupied, generating rental income that supports the asking price.
  • All leases are month-to-month, providing a prospective investor maximum flexibility to implement unit improvements, rent adjustments

OVERVIEW

Presenting a 17-unit mixed-use property located on Route 9 in downtown Spencer, Massachusetts, comprising 13 residential units and 4 commercial units. The property currently operates with strong occupancy — 10 of 13 residential units and 3 of 4 commercial units are tenant-occupied, generating rental income that supports the asking price at current rates. All leases are structured on a month-to-month basis, offering a prospective investor maximum flexibility to implement a value-add strategy through unit improvements, rent adjustments, and lease restructuring without the constraints of long-term tenant agreements. Situated along Spencer's primary commercial corridor with steady local foot traffic and convenient access to the greater Worcester area, this property presents a compelling opportunity for an investor seeking immediate cash flow with significant upside potential. The property is situated at 106 Main Street in the heart of downtown Spencer, Massachusetts, along the Route 9 corridor — the town's primary commercial thoroughfare. Located in central Worcester County, the site offers convenient access to local shops, services, and municipal amenities within walking distance. Spencer is approximately 15 miles west of Worcester, providing residents with proximity to the greater Worcester metropolitan area while maintaining a small-town setting. The Route 9 corridor also connects to nearby towns including Leicester, East Brookfield, and the broader central Massachusetts region.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$63 USD /SF

# OF UNITS

17

PRICE/UNIT

$64,706

CAP RATE

Request Cap Rate

% LEASED

76%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,624 SF

ZONING

Stores & Residential

APN/PARCEL ID

SPEN-000008U-000001

ASK ABOUT THIS PROPERTY

Cody MinerNAI Glickman Kovago & JacobsMore Info
508-389-3769

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Cody MinerNAI Glickman Kovago & JacobsMore Info
508-389-3769

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.