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1399 Washington St 8,795 SF 75% Leased Office Building Hanover, MA 02339 $1,699,900 ($193.28/SF)
INVESTMENT HIGHLIGHTS
- Heavy traffic location, located on a front parcel lot directly in front of Hanover Crossing.
EXECUTIVE SUMMARY
1399 Washington St is a commercial office space building consisting of seven offices and nine half baths. Front parcel lot, sitting on just shy of ¾ of an acre, located directly in front of the recently completed development, Hanover Crossing! With easy access to routes 3 and 53- this commercial office space building sits dead center on one of the busiest retail corridors in the area! What was once a quaint and quiet mall, has now been transformed and revamped into one of the highest trafficked shopping/lifestyle centers not just in Hanover, but the entire south shore!
Financials are all actual FY2024. Property is 43% vacant, including the premier 1st floor unit which was being used a 2200sqft medical practice. Please see attached offering memorandum which gives a break down of the rent roll and expenses at current and estimated full occupancy.
Financials are all actual FY2024. Property is 43% vacant, including the premier 1st floor unit which was being used a 2200sqft medical practice. Please see attached offering memorandum which gives a break down of the rent roll and expenses at current and estimated full occupancy.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Building Size
8,795 SF
Building Class
C
Year Built
1972
Price
$1,699,900
Price Per SF
$193.28
Percent Leased
75%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
2,932 SF
Building FAR
0.29
Lot Size
0.70 AC
Zoning
commercial - Commercial
Parking
16 Spaces (1.82 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | HANO-000018-000000-000009 | Total Assessment | $1,031,300 (2025) |
| Land Assessment | $415,900 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $615,400 (2025) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
HANO-000018-000000-000009
Land Assessment
$415,900 (2025)
Improvements Assessment
$615,400 (2025)
Total Assessment
$1,031,300 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
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Presented by
Longwood Residential LLC
1399 Washington St
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