261 W Main St - Freestanding FOR SALE


Northborough, MA 01532
$7,950,000 USD
508-981-7014
261 W Main St, Northborough, MA for Sale
$7,950,000 USD
Freestanding - FOR SALE
1/8
null | Request Cap Rate

261 W Main St
Northborough, MA 01532


HIGHLIGHTS

  • Value-Add Potential
  • Prime Route 20 Location
  • Stable, Diversified Tenant Mix
  • Excellent Accessibility & Parking
  • Strong Demographics

OVERVIEW

Kelleher & Sadowsky Associates, Inc. is pleased to introduce 243–265 West Main Street, a ±50,306 square foot neighborhood shopping center prominently located along Route 20 in Northborough, Massachusetts. This well-maintained retail property offers a stable and diversified income stream with significant value-add potential through market rent stabilization. The property possesses many desirable attributes, including historically low vacancy rates, long-standing and well-established tenancies, future development potential, excellent visibility, and convenient local accessibility. Strategically situated along a heavily traveled commercial corridor within one of MetroWest’s premier suburban markets, the property features a diverse tenant mix comprised primarily of established local retailers and service providers, complemented by select regional operators that cater to the daily needs of the surrounding residential and business communities. With multiple points of ingress and egress, ample on-site parking, and proximity to major regional thoroughfares, the center serves as a convenient and well-frequented destination for residents of several affluent nearby towns and municipalities. Constructed with a masonry and steel frame structure, the building presents a durable and low-maintenance design. Tenant spaces feature modern storefront glass systems, rear service doors for loading, and utility configurations suitable for various retail users. The site’s efficient layout supports stable occupancy and long-term operational sustainability. This offering presents a compelling opportunity to acquire a stabilized, income-producing retail asset in a supply-constrained market characterized by strong demographics and high barriers to entry. The property offers notable upside in net operating income through base rent growth, lease restructuring, façade improvements, and strategic repositioning of the asset to significantly enhance NOI.

FOR SALE DETAILS

PRICE

$7,950,000 USD

PRICE/SF

$219 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Northboro Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

36.9 AC

LAND SF

1,607,364 SF

ZONING

BW

APN/PARCEL ID

NBOR-000820-000000-000016

ASK ABOUT THIS PROPERTY

Todd AlexanderKelleher & Sadowsky Associates, Inc.More Info
508-981-7014

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Todd AlexanderKelleher & Sadowsky Associates, Inc.More Info
508-981-7014

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.