30 Stratton Ave
Marshfield, MA 02050
Retail Property For Sale

The site is located within Marshfield Center just steps from the intersection of Route 139, and Route 3A. Bikeway and Bank of America ATM sit at the intersection of Stratton Avenue and Snow Road, on an outparcel to Webster Square, a 180,000+ square foot Brixmor shopping center. Webster Square is anchored by Star Market and home to a number of strong regional and national tenants, including Marshalls & HomeGoods, Family Dollar, Ocean State Job Lot, Papa Ginos and more. The Shops at Oceans Gate, a 40,000+ square foot newly renovated shopping center adjacent to the subject property and is home to national tenants such as Mattress Firm, Verizon, Subway and Sweet Frog as well as a mix of strong local and national tenants. In the immediate surrounding area is the Marshfield post office, library and town hall as well as Citizens Bank, Rockland Trust, Rite Aid, CVS, Dunkin Donuts, and a number of additional restaurants and regional tenants. The property is a significant value add opportunity in Marshfield's center of town with a high barrier to entry. Bank of America recently renewed the lease for the ATM at this location through April, 2022. There has been an ATM at this location since 1987 and the lease has been renewed several times, demonstrating a strong commitment to the site. Bikeway, the main tenant at the property, is paying substantially less than half market rent. The tenants lease expires in April of 2018, creating an easy opportunity for upside. Simply re-tenanting Bikeway's space at market rent would result in a 7.85% CAP Rate, while redeveloping the site with a national tenant would create an even greater return. Marshfield is both a commutable distance from Boston (30 miles) and a tourist destination in the summer months, where out-of-towners swell the population to nearly double its normal size. Marshfield is active throughout the year with events such as the Marshfield Fair and Levitate Music Festival. The community takes pride in its education systems, sports programs, and unique environmental beauty both on the coast and inland. The town of Marshfield has a population of more than 25,000 residents and a population density of more than 850 people per square mile. The property is located in a very affluent area, with an average household income of $134,968.