632 Park Avenue · Worcester, MA 55415 · QSR / Restaurant
We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.
Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.
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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.
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Asking-market observation aggregated from public listing sources, last observed Sep 18, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.