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386 W Main St 20,732 SF 100% Leased Office Building Northborough, MA 01532 $3,100,000 ($149.53/SF) 7.33% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong current and historical occupancy
- Excellent Location
- Well Maintained
EXECUTIVE SUMMARY
A fantastic opportunity to purchase an exceptional building with a strong occupancy (100% with seller occupying 6%), below market rents, abundant parking and a tenants' desired direct parking lot access to their units. This building has been well maintained and run from the continual upkeep/upgrading of the mechanicals to replacing the roof in 2021 and painting the building in 2024.
There is great opportunity for continued rental growth and value add to this property.
There is great opportunity for continued rental growth and value add to this property.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
20,732 SF
Building Class
B
Year Built
1986
Price
$3,100,000
Price Per SF
$149.53
Cap Rate
7.33%
NOI
$227,200
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,366 SF
Slab To Slab
8’
Building FAR
0.13
Lot Size
3.76 AC
Zoning
Commercial - The zoning for 386 W Main Street is Business West
Parking
60 Spaces (2.89 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Monument Signage
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Viz Art School
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- -
- -
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Lorem Ipsum
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Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Viz Art School | - | - | - | Lorem Ipsum | Jan 0000 |
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PROPERTY TAXES
| Parcel Number | NBOR-000810-000000-000009 | Improvements Assessment | $2,991,600 |
| Land Assessment | $606,500 | Total Assessment | $3,598,100 |
PROPERTY TAXES
Parcel Number
NBOR-000810-000000-000009
Land Assessment
$606,500
Improvements Assessment
$2,991,600
Total Assessment
$3,598,100
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386 W Main St
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