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386 W Main St 24,352 SF 100% Leased Office Building Northborough, MA 01532 $3,100,000 ($127.30/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.
Data Room Click Here to Access
- Operating and Financials
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Building Size
24,352 SF
Building Class
C
Year Built
1986
Price
$3,100,000
Price Per SF
$127.30
Cap Rate
7.33%
NOI
$227,200
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
12,176 SF
Slab To Slab
8’
Building FAR
0.15
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
-
- Educational Services
- -
- -
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Lorem Ipsum
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Jan 0000
Viz Art School, based in Northborough, MA, offers comprehensive art education programs for children, teens, and adults. The school provides classes in drawing, painting, and figure art, focusing on developing creativity and technical skills in a supportive studio environment.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Educational Services | - | - | Lorem Ipsum | Jan 0000 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,467,400 | |
| Land Assessment | $859,500 | Total Assessment | $4,326,900 |
Property Taxes
Parcel Numbers
Land Assessment
$859,500
Improvements Assessment
$3,467,400
Total Assessment
$4,326,900
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386 W Main St
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