Crown Point Office Center 76 Summer St 55,000 SF 80% Leased Office Building Fitchburg, MA 01420 $3,600,000 ($65.45/SF) 11.72% Cap Rate

Value-Add Multi-Tenant Office Investment with projected ~$500,000 Stabilized NOI
76 Summer Street in Fitchburg MA presents a compelling opportunity to acquire a four-story, elevator-served multi-tenant office building offering strong in-place income with significant upside through strategic leasing and asset management. The property features approximately 55,000 square feet of gross building area and approximately 40,000 square feet of net rentable space, situated on 2.29 acres with ample on-site parking and flexible suite configurations.
Currently configured as a 68-suite professional office asset, the property accommodates a diverse tenant base ranging from small professional users to larger full-floor occupants. Suite sizes can be subdivided from approximately 94 square feet to 11,000 square feet, allowing the building to support a broad range of tenant requirements and enhancing leasing flexibility.
The asset is currently generating strong in-place income while offering investors a clear path to value creation through lease-up of existing vacancy, mark-to-market rent growth, and operational efficiencies. With approximately 20% vacancy, the property provides meaningful embedded upside and the opportunity to significantly increase Net Operating Income through targeted leasing initiatives.
Upon stabilization, the property is projected to achieve approximately $500,000 in annual NOI, positioning the asset as an attractive opportunity for investors seeking both current cash flow and long-term value appreciation.
Investment highlights
• Value-Add Office Investment Opportunity with projected NOI growth potential
• 68-suite multi-tenant office building with flexible configurations
• Suite sizes from approximately 94 SF to 11,000 SF accommodating diverse tenant profiles
• Approximately 55,000 SF gross building area with approximately 40,000 SF rentable area
• 4-story elevator-served building with professional management infrastructure
• 2.29-acre site with abundant on-site parking
• Strong in-place income with immediate cash flow
• Approximately 20% vacancy creating substantial lease-up opportunity
• Projected stabilized NOI of approximately $500,000