420 Park St - Flex FOR SALE


Housatonic, MA 01236
$1,750,000 USD
518-859-8319
420 Park St, Housatonic, MA for Sale
$1,750,000 USD
Flex - FOR SALE
1/124
null | Request Cap Rate

420 Park St
Housatonic, MA 01236


OVERVIEW

Investment Summary Prime multi-tenant commercial asset offering strong current cash flow, significant capital upgrades, and immediate value add potential. As a legacy asset, the same family has owned the property since 1927. Featuring a stable roster of four diverse tenants and heavy duty building infrastructure, this property minimizes near term capital expenditures while providing attractive upside through the lease up of remaining space. Additionally, the property is prime for conversion or adaptive re-use into apartments, condominiums, affordable housing, or micro-retail / office spaces. Property Details & Infrastructure Building Size: 4-Story Configuration, plus a large basement Vertical Transport: Brand-new freight elevator servicing all four floors (installed 3 years ago) Roof: Newer roof installed a few years ago Utilities: Separately metered; tenants pay their own heat and electric. Landlord expenses are limited to common area electric and utilities for vacant spaces Current Tenant Roster & Rent Roll First Floor (Hospital Storage Space): $1,900 / month (one bathroom) First Floor (Artist's Office): $1,500 / month (one bathroom) Second Floor (Massage Therapist): $950 / month (one bathroom) Second Floor (Photographer's Office): $950 / month (two office spaces one bathroom) Second Floor (Vacant Space two bathrooms, which is leasable) Third Floor (Dance Studio): $3,007.39 / month (8 rooms, two bathrooms, and a utility room) Fourth Floor Attic: (5 rooms currently used as storage) Basement: 4,258 Square Feet, not included in 30,236 square feet number Current Monthly Gross Income: $8.307.39 ($99,688.68 annualized from occupied units) Financial & Operating Highlights Low overhead structure with separate metering for all active units Major structural capital expenditures (roof and 4-story freight elevator) already addressed Upside potential via vacancy lease-up across multi-level floor plates Contact Connor Dunn, for additional information, and to arrange a tour. See floor plans for layout of the property

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$58 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rubin Building

PROPERTY TYPE

Flex

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.54

LAND SF

23,522

ZONING

I

APN/PARCEL ID

GREA-000002-000000-000052

ASK ABOUT THIS PROPERTY

Brendan Dal ColNew Scotland Development CompaniesMore Info
518-859-8319

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Brendan Dal ColNew Scotland Development CompaniesMore Info
518-859-8319

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