740 Elm St
Concord, MA 01742
Land For Sale · 20.41 AC

JLL has been exclusively retained to offer for sale 740 Elm Street, currently a 105-room Best Western on a 3.5-acre parcel in Concord, Massachusetts. The site offers direct access to the Concord Turnpike (Route2) which provides a direct path to Cambridge, Downtown Boston, and the life science/technology corridor along Route 128/I 95. With an excellent housing stock, school system, and abundant outdoor recreation areas, Concord is an attractive location for executives and a highly skilled work force. One of the nation’s oldest villages, Concord is also one of its most affluent, with an average household income of $231,830 and an average home value of approximately $1,100,000. Concord is proximate to some of the region’s most attractive shopping and business centers. Primarily driven by higher incomes, apartment rents in this submarket are some of the highest in all suburban Boston. Limited new supply and strong demand driven by its large base of nearby employers have allowed rent growth to be out sized. This success has continued despite the headwinds of the COVID pandemic while most areas within the Boston metro have experienced losses, rents across Route 2 have increased. With 3.5 acres of land, this site is a premier redevelopment opportunity with immediate access to major highways in one of Boston’s most desirable suburbs.