93.8% Leased Neighborhood Center For Sale | Mass Pike West

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30721109
Property Subtypes: Street Retail, Other
Status: Pending
Building Size (RSF): 41,937 SF
Gross Building Area: 43,875 SF
Gross Land Area: 4.84 Acres
Sale Price: $5,795,000
Unit Price: $138.18 PSF
Ceiling: 11 ft.
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Gould's Colonial Plaza
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 7/7/2021

Overview / Comments

Gould's Colonial Plaza is a 93.8% leased neighborhood center located at 74 Main Street in the Mass Pike West suburb of Medway, Massachusetts. Priced at an 8.4% cap rate, this 17 tenant property includes approximately 43,875 +/- SF of gross leasable area across two buildings on a 4.3-acre site. The property is 93.8% leased, which shows ongoing commitment from the property's diverse tenancy through the Covid pandemic. Area tenants include CVS Health, Shaw's, Walgreens, Ocean State Job Lot, Dunkin', Middlesex Savings Bank, Dollar Tree, Burger King, Bank of America, and Domino's Pizza. The 5-mile radius trade area features a robust median household income of $123,235 and a population of 74,505, 59% have a bachelor's degree or higher.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Norfolk
Tax ID/APN: 40-053
Zoning: CB
Retail Clientele: General
Property Located Between: Located near the intersection of Route 109 and Holliston Street.
Largest Nearby Street: Main Street
Traffic/Vehicle Count: 14,303
Highway Access: I-495 Rt. 116
Airports: T. F. Green Airport
Site Description: 74 Main Street a neighborhood center located near the intersection of Route 109 and Holliston Street. Area tenants include CVS Health, Shaw's, Walgreens, Ocean State Job Lot, Dunkin', Middlesex Savings Bank, Dollar Tree, Burger King, Bank of America, and Domino's Pizza. The 5-mile radius trade area features a robust median household income of $123,235 and a population of 74,505, 59% have a bachelor's degree or higher.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 21,838 SF
Property Condition: Good
Year Built: 1985
Roof Type: Gable
Construction/Siding: Brick/Vinyl Siding
Parking Type: Surface
Parking Description: Lot
Sprinklers: Wet
Zoning Description: Commercial
Lot Frontage: N/A

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,413 31,939 85,734
Median Age: 41.16 40.84 40.56
Households: 2,401 11,015 30,064

Contact

Photograph of Listing Agent

Jeremy Cyrier

Mansard NECPE Member
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