6,950sf High Traffic Retail on Route 114, Danvers

120 Andover Street Danvers, MA 01923

120 Andover Street, Danvers, MA, 01923
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FOR LEASE
Property Type:
Strip Center
Amount:
Please Call Broker for Price

Last Verified:
Jan 12, 2023

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Highlights

  • 40,000+ Vehicles Per Day
  • Major Retail Corridor
  • Open Retail Space with Loading Dock
  • Excellent Signage on Street, Front & Rear
  • NEW High-Efficiency HVAC with MERV 13 Filtration
  • High-Quality Retail Neighbors

Description

High-profile 6950sf retail space directly on Andover Street, (Route 114), just off I-95. Large open floorplan with 12'-14' wall height, warehouse with loading dock, individual offices & two ADA restrooms. This is one of the most active retail corridors in the North Shore, and demographics & location are superb, average daily traffic in excess of 40,000 VPD. The property is surrounded by a who's who of high-quality retail businesses.

Large lighted pylon sign at the signalized entrance, excellent signage on the front of the building & 110 shared free parking spaces in the front and rear of the property. The HVAC system has been upgraded to provide more fresh air with higher filter efficiency, resulting in high-quality filtration & lower cost. The fire alarm has also been upgraded.

NNN expenses are estimated at $4psf. 5-year step-up lease with multiple 5-year options. Space is delivered as a vanilla box, with interior modifications at the tenant's expense. Available spring of 2023. Prospective tenants are encouraged to perform Due Diligence in all aspects of their contemplated tenancy.

High volume retail corridor.


Year Built: 1954
Building Size: 33914sq ft
Lot Size: 2.35 acres


Documents

Brochure, Unit 3

Units for Lease

120 Andover St
Space Available: 6950 SF
Lease Type: NNN

Price Per Sqft/Month: $32.00

Map of 120 Andover Street, Danvers, MA, 01923

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.