281 Main St - Auto Dealership FOR SALE


Reading, MA 01867
$1,995,000 USD
508-272-0585
281 Main St, Reading, MA for Sale
$1,995,000 USD
Auto Dealership - FOR SALE
1/7
null | Request Cap Rate

281 Main St
Reading, MA 01867


OVERVIEW

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of 281 Main Street, a two-tenant asset located in Reading, MA. The asset is ideally situated north of Boston in the community of Reading, Massachusetts. Located at the crossroads of I-93 and I-95 (Route 128), Reading is able to capture exceptional daily traffic from two of greater Boston’s major north-south highways. The asset is also located between two major retail nodes anchored by The Northshore Mall (9.3M Visits) and the Burlington Mall (8.1M Visits). Situated at 281 Main Street, this 3,600 SF asset is presently leased to Baystate Physical Therapy, who occupies the first floor. The second-floor space is currently leased by the owner, presenting an opportunity for an investor to boost NOI through the lease-up of this space, or an owner-occupier. Baystate Physical Therapy signed a 10-year lease in 2016, and they are currently paying $69,000 per year on a gross lease. Baystate has a current lease expiration of December 31, 2025 with one (1), five (5) year option remaining at FMV (fair market value). 281 Main Street is being offered for sale with a formal asking price of $1,995,000 with offers being accepted on a rolling basis.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$554 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

36,154 SF

ZONING

Commercial

APN/PARCEL ID

READ-000012-000000-000042

ASK ABOUT THIS PROPERTY

Eric SuffolettoAtlantic Capital PartnersMore Info
508-272-0585

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Eric SuffolettoAtlantic Capital PartnersMore Info
508-272-0585

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