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Restaurant Bldg for Sale in Metrowest Area 12,880 SF 100% Leased Retail Building Framingham, MA 01701 $3,600,000 ($279.50/SF) 4% Cap Rate
Executive Summary
Approx.. 12,000 SF steel frame building including a full semi-finished full height lower level and mezzanine with bar, used for functions & private parties.
The real estate is in excellent condition, fully sprinklered and has over 70 parking spaces. The current tenant pays approx. $12,000/m NNN with a lease renewal coming up at FMV. The operating business owner may consider selling the business and a combined selling price would have to be agreed by both the real estate owner and the business owner who will work together to effectuate a sale. Or purchase the real estate for investment. This building can accommodate many different businesses but was built as a high-end restaurant/ function facility. Monday afternoon showings.
The real estate is in excellent condition, fully sprinklered and has over 70 parking spaces. The current tenant pays approx. $12,000/m NNN with a lease renewal coming up at FMV. The operating business owner may consider selling the business and a combined selling price would have to be agreed by both the real estate owner and the business owner who will work together to effectuate a sale. Or purchase the real estate for investment. This building can accommodate many different businesses but was built as a high-end restaurant/ function facility. Monday afternoon showings.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
12,880 SF
Building Class
C
Year Built
1999
Price
$3,600,000
Price Per SF
$279.50
Cap Rate
4%
NOI
$144,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.29
Lot Size
1.01 AC
Zoning
B - Business District
Parking
64 Spaces (4.97 Spaces per 1,000 SF Leased)
Frontage
203’ on Beacon
Amenities
- 24 Hour Access
- Atrium
- Pylon Sign
- Restaurant
- Tenant Controlled HVAC
- Storage Space
- Recessed Lighting
- Air Conditioning
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | FRAM-000102-000003-007914 | Improvements Assessment | $1,888,400 |
| Land Assessment | $580,200 | Total Assessment | $2,468,600 |
Property Taxes
Parcel Number
FRAM-000102-000003-007914
Land Assessment
$580,200
Improvements Assessment
$1,888,400
Total Assessment
$2,468,600
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Restaurant Bldg for Sale in Metrowest Area