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777 Dedham St - TopGolf 91,162 SF Sports & Entertainment Building Offered at $58,327,000 at a 7% Cap Rate in Canton, MA 02021
INVESTMENT HIGHLIGHTS
- Rare Boston Investment Opportunity
- Ideal Location Proximate to a High Concentration of Topgolf's Target Users
- Located in the Second Wealthiest County in the State and Within the Boston CSA, the 6th Most Populous in the Country
- ~922,000 People in 10 Miles
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present a new absolute net Topgolf investment offering in suburban Boston. This location is the first and only in the state of Massachusetts. The property includes a 60,781 square foot three-story building with 90+ climate controlled hitting bays and a driving range on over 12 acres. This location is well situated on I-95 with high accessibility, exceptional household income and proximity to many corporate headquarters and offices, driving corporate event usage.
Topgolf commenced their 20 year lease in November of 2023, with six five-year renewal options. The NOI is expected to be $4,082,925 in year one growing by 10 percent every five years of the initial term and option terms. The lease has a full corporate guaranty with Topgolf International, Inc., the leader in this popular and growing experiential/entertainment sector.
Topgolf commenced their 20 year lease in November of 2023, with six five-year renewal options. The NOI is expected to be $4,082,925 in year one growing by 10 percent every five years of the initial term and option terms. The lease has a full corporate guaranty with Topgolf International, Inc., the leader in this popular and growing experiential/entertainment sector.
PROPERTY FACTS
| Price | $58,327,000 | Building Class | C |
| Price Per SF | $959.63 | Lot Size | 12.19 AC |
| Sale Type | Investment | Building Size | 60,781 SF |
| Cap Rate | 7% | No. Stories | 3 |
| Property Type | Sports & Entertainment | Year Built | 2023 |
| Property Subtype | Golf Course/Driving Range | Parking Ratio | 6.99/1,000 SF |
| Zoning | I - Industrial | ||
| Price | $58,327,000 |
| Price Per SF | $959.63 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Property Type | Sports & Entertainment |
| Property Subtype | Golf Course/Driving Range |
| Building Class | C |
| Lot Size | 12.19 AC |
| Building Size | 60,781 SF |
| No. Stories | 3 |
| Year Built | 2023 |
| Parking Ratio | 6.99/1,000 SF |
| Zoning | I - Industrial |
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PROPERTY TAXES
| Parcel Number | CANT-000033-000000-000004 | Improvements Assessment | $32,963,100 |
| Land Assessment | $6,682,800 | Total Assessment | $39,645,900 |
PROPERTY TAXES
Parcel Number
CANT-000033-000000-000004
Land Assessment
$6,682,800
Improvements Assessment
$32,963,100
Total Assessment
$39,645,900
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777 Dedham St - TopGolf
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