DANVERS — Hank Pizzo has seen a lot of businesses come and go since he started working at a car dealership just off Endicott Street in 1977.

Lately, most of them are just going.

"I haven't seen so much change," Pizzo said.

In the past year, five restaurants and stores on one of Danvers' busiest commercial stretches have closed and remained vacant: a Mobil station, Linens 'N Things, the Crab House, an Uno Chicago Grill and Pizzo's own store, Colonial Cadillac.

A sixth, a Midas repair shop, has been empty for several years.

In some ways, Endicott Street reflects the national recession. Linens 'N Things filed for bankruptcy protection last year and closed its nearly 600 stores. General Motors downsized, spelling the end for Colonial. Mobil raised the rent, forcing the longtime owners to move to another franchise.

"This is just dragging on forever," Pizzo said.

In other instances, business owners cited space constraints as the reason for leaving.

The prolonged vacancies may also be a symptom of a slow economy, but town officials are optimistic the exodus is only temporary.

"It seems like things are picking up," Building Inspector Richard Maloney said, "or they will after the first of the year."

A Midwestern chain called Ultimate Electronics is eyeing the Linens 'N Things space at 180 Endicott St., Maloney said.

A Tio Juan's Margaritas Mexican restaurant plans to take over the Crab House.

And more help may be on the way. The town is angling for a $1 million state grant that would spruce up a roadway that looks much like it did in the 1970s. The money would be used to repave the street, fix drainage, realign driveways and install new street lights, Department of Public Works Director David Lane said.

"We really want to revitalize that whole area; it is important to Danvers," Lane said of making Endicott Street an attractive gateway to the retail area.

"I think the dated strip is back," said Richard Newburg of the Drumlin Group in Salem. He's the commercial real estate broker for the shuttered Midas repair shop.

The Midas site is wedged between a Burger King and a Wendy's, and Newburg says he has been fielding plenty of inquiries from national restaurant chains. But the narrow site has made it hard to situate a drive-through window.

Endicott Street, Newburg predicts, will benefit from a slight uptick in the economy, given its high visibility and its location right off Route 128.

Newburg is also encouraged both by the development he is seeing on nearby Route 114, and the completion of the Mass General/North Shore Center for Outpatient Care on the eastern end of Endicott Street.

Margaritas is about to submit plans for the former Crab House. The project entails a 6,000-square-foot restaurant with Mexican decor and approximately $1 million in improvements.

Town Manager Wayne Marquis said two "national entities" have been eyeing Endicott Street. One "has worked with us on and off for six months."

He said there has been interest in the Uno's site, which closed because it was too small to accommodate an expansion of the restaurant.

"Size has been an issue with that site," Marquis said. "National entities have a certain size they work with."

From her behind-the-scenes perspective, Town Planner Kate Day says Endicott Street is on the brink of a turnaround.

"I think there is some good news on the horizon," she said.

Staff writer Ethan Forman can be reached at 978-338-2673 or eforman@salemnews.com.

Loss in value

A commercial property's taxable value is based, in part, on revenue. The six closed businesses along Endicott Street represent a collective $989,200 drop in value as of 2008.

Mobil station, 156 Endicott St.

FY 2009 assessed value: $743,300

FY 2010 preliminary assessed value: $695,500

Difference: -$47,800 (6.4%)

Linens 'N Things, 180 Endicott St.

FY 2009 assessed value: $6,336,200

FY 2010 preliminary assessed value: $5,703,200

Difference: -$633,000 (-9.99%)

Crab House and New Asia restaurants, 182 Endicott St.

FY 2009 assessed value: $1,107,700

FY 2010 preliminary assessed value: $1,032,900

Difference: -$74,800 (-6.75%)

Midas service station, 186 Endicott St.

FY 2009 assessed value: $677,900

FY 2010 preliminary assessed value: $591,200

Difference: -$86,700 (-12.78%)

Uno Chicago Grill, 194 Endicott St.

FY 2009 assessed value: 1,236,900

FY 2010 preliminary assessed value: $1,273,400

Difference: $36,500 (+2.9%)

Colonial Cadillac, 24 Commonwealth Ave.

FY 2009 assessed value: $3,013,400

FY 2010 preliminary assessed value: $2,830,000

Difference: -$183,400 (-6.08%)

Source: Danvers town assessor