Fully Leased - Stabilized Investment Opportunity - Multi-Tenant Retail Plaza
369 West Main Street
Northborough, MA 01532
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.
