632 Park Avenue, Worcester, MA

632 Park Avenue sits in the Webster Square area of southwest Worcester, where Park Avenue (Route 9) meets Main Street. The node is a dense, established retail corridor with strong frontage, signage visibility, and steady consumer traffic. Park Avenue and Main Street carry heavy daily volume through the corridor: Park Avenue (Route 9): 19,561 ADT Main Street: 16,567 ADT Route 9 links Webster Square to downtown Worcester and the western suburbs, with I-290, I-90, and Route 12 all within close reach. The trade area carries a dense, daily-needs retail base anchored by national and regional tenants. Webster Square Plaza and Mill Street Plaza both sit at the intersection, with new construction underway nearby. Clark University anchors the immediate area's student and institutional draw.632 Park Avenue is a passive investment leased to Applebee's on an absolute NNN ground lease. The tenant carries all obligations, including taxes, insurance, maintenance, repairs and replacements, leaving the landlord with zero management responsibility and zero capital expenditure exposure. The lease is guaranteed by Apple New England LLC/ The Flynn Group. The current term runs through January 2030, followed by four 5-year renewal options that extend potential occupancy to 2045. Rent escalates 5% every five years, lifting income from $95,721 today to $116,349 at full term, a built-in hedge against inflation across the hold. At a $1,475,000 list price, the in-place rent reflects a 6.5% cap rate. The building was renovated in 2023 and sits on a 1.03-acre parcel in the dense Webster Square retail corridor, where single-tenant restaurant pads are tightly held and rarely come to market.