63 Melcher St - Apartments CONDO FOR SALE


Boston, MA 02210- Fort Point
$3,011,246 USD
781-776-4012
63 Melcher St, Boston, MA for Sale
$3,011,246 USD
Apartments CONDO - FOR SALE
1/6
null | 7% Cap Rate

63 Melcher St
Boston, MA 02210
Fort Point


HIGHLIGHTS

  • Long Term Lease
  • Superior Location
  • Transit Oriented Location
  • High Traffic Counts
  • Exceptional Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of the condominium interest in the single tenant retail investment property located at 63 Melcher Street in Boston, Massachusetts (the “Property”). The Property consists of a 3,120 square foot retail condominium, occupying a portion of the ground floor of The Muse. The unit is leased to Joint Ventures Physical Therapy, which has 8+ years remaining on their Triple Net (NNN) Lease with one (1), 5-year option. The lease provides for attractive 2% annual increases throughout the primary lease term. The Muse is a six-story mixed-use building that was redeveloped in 2018 and features a retail unit on the ground floor (Subject Property) and 38 luxury condo units with exposed brick and original wood beam ceilings on the upper floors. The well-maintained building also offers a landscaped roof terrace with views of Boston. 63 Melcher Street is situated in an exceptional urban location in Boston’s Seaport District, with excellent access to Downtown Boston, Boston Harbor, South Station local and regional transportation, and Boston’s Logan Airport. The Property is located in the Fort Point neighborhood of the Seaport District and has frontage along Melcher, Necco and A Streets. The Property is in between Boston’s South Station and the Boston Convention and Exhibition Center and is a short walk to Summer Street and Seaport Boulevard, bounding the area’s primary commercial district, which offers an array of high-end office and residential developments, urban amenities, retailers, restaurants, and entertainment options.

FOR SALE DETAILS

PRICE

$3,011,246 USD

PRICE/SF

$965 USD /SF

CAP RATE

7%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Muse

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

37,713 SF

STORIES

6

BUILDING CLASS

B

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

1

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Aaron HuntleyHorvath & TremblayMore Info
781-776-4012

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Aaron HuntleyHorvath & TremblayMore Info
781-776-4012

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