106 Main St
- Strong Occupancy: 10 of 13 residential units and 3 of 4 commercial units are currently tenant-occupied, generating rental income that supports the asking price at current rates.
- Flexible Lease Structure: All leases are month-to-month, providing a prospective investor maximum flexibility to implement unit improvements, rent adjustments, and lease restructuring without the constraints of long-term tenant agreements.
- Value-Add Potential: The month-to-month lease structure creates an easy path for an investor to execute a value-add strategy with significant upside potential while benefiting from immediate cash flow.
- Prime Location: Situated along Spencer's primary commercial corridor with steady local foot traffic and convenient access to the greater Worcester area, approximately 15 miles to the east.
Property Description
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.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,100,000 |
| No. of Units: | 17 |
| Year Built: | 1900 |
| Lot Size: | 0.38 Acres |
| Opportunity Zone: | No |
| Price per unit: | $64,706 |
| Property Website | Click Here |
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