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97 Main St 70,747 SF 100% Leased Retail Building North Reading, MA 01864 For Sale
INVESTMENT HIGHLIGHTS
- Redevelopment Opportunity
- 15 Minutes from Downtown Boston
- Short Term Tenant allows for short-term cash flow prior to Redevelopment
EXECUTIVE SUMMARY
Atlantic Capital Partners has been exclusively engaged to market for sale North Reading Landing, a redevelopment site located at 97 Main Street in North Reading, Massachusetts. Situated in the densely populated suburb that is just 15 miles north of Downtown Boston, the asset o?ers a tremendous redevelopment opportunity to reimagine one of the most signi?cant parcels along this major corridor. North Reading Landing is a 21.19 acre parcel with a local population of 32,453 people within a 3-mile radius earning an average of $197,861 per year.
Totaling 70,747 square feet, North Reading Landing is presently partially occupied by a short-term lease to Ocean State Job Lot, a?ording immediate redevelopment potential. The asset includes the 70,747 square foot main structure that was once fully occupied by Stop & Shop, and currently operating Stop & Shop fuel station. This site features direct access from Route 28 (Main Street), which serves as the dominant north-south roadway leading to Interstate 95, and Route 62 (Winter Street).
Totaling 70,747 square feet, North Reading Landing is presently partially occupied by a short-term lease to Ocean State Job Lot, a?ording immediate redevelopment potential. The asset includes the 70,747 square foot main structure that was once fully occupied by Stop & Shop, and currently operating Stop & Shop fuel station. This site features direct access from Route 28 (Main Street), which serves as the dominant north-south roadway leading to Interstate 95, and Route 62 (Winter Street).
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Supermarket
Building Size
70,747 SF
Building Class
B
Year Built
1996
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
15.00 AC
Zoning
Highway Business - Highway Business
Parking
374 Spaces (5.31 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | NREA-000024-000000-000036 | Improvements Assessment | $3,871,100 |
| Land Assessment | $4,126,100 | Total Assessment | $7,997,200 |
PROPERTY TAXES
Parcel Number
NREA-000024-000000-000036
Land Assessment
$4,126,100
Improvements Assessment
$3,871,100
Total Assessment
$7,997,200
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