Fully Leased - Stabilized Investment Opportunity - Multi-Tenant Retail Plaza

369 West Main Street Northborough, MA 01532

369 West Main Street, Northborough, MA, 01532
369 West Main Street Northborough, MA
369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532 369 West Main Street, Northborough, MA, 01532
FOR SALE
Property Type:
Strip Center
Amount:
Please Call Broker for Price

Last Verified:
Apr 09, 2024

Daily Email Blast
0 times


Highlights

  • Further Upside Potential - The property also offers further upside potential through various avenues, including lease optimization to align with current market trends during lease renewals.
  • Historically High Occupancy Rates - Averaging between 91% to 100% in the last 20 years.
  • Long Tenured Tenants - Averaging 15.83 years.
  • Favorable Traffic Counts - 16,556 ADT (West Main Street).
  • Single Tax Rate - Northborough benefits from a single tax rate, currently set at a low $14.28 per thousand. The lowest in the market area.

Description

SVN® Parsons Commercial Group - Boston is pleased to present for sale 369 West Main Street in Northborough, MA (the “Property”), a 14,251± square foot, multi-tenant retail asset on a 2.01± acre corner lot, with over 100± parking spaces.

The property offers a great turn-key and stabilized investment opportunity. The majority of the tenants have a long standing history at the plaza averaging over 15 years. There are a total of seven (7) units, fully leased, ranging in flexible sizes from 1,250± to 3,200± SF. The property also offers further upside potential through various avenues, including lease optimization to align with current market trends.

369 West Main Street is nicely positioned within the Route 20 corridor in Central Massachusetts. It is minutes away from Northborough Crossing, one of the largest mixed-use open air shopping centers in Central Massachusetts and home to the first Wegmans in Massachusetts. The demographics and traffic counts are favorable and further enhances the stability of the property.

The combination of these characteristics makes 369 West Main Street an excellent opportunity to acquire a fully occupied retail
shopping plaza with stability and long-term viability in the Greater Boston market.

Northborough is centrally located and in close proximity to I-495, I-290 and the Mass Pike (I-90). Businesses gain a competitive advantage with ready access to major markets and suppliers including Boston, New Hampshire, Rhode Island, and Connecticut.


Year Built: 1979
Building Size: 14251sq ft
Building Class: B
Lot Size: 2.01 acres

Map of 369 West Main Street, Northborough, MA, 01532

Presented by:

Request additional information


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

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.