Retail•Free Standing Building•For Sale or Lease

408 River St., Fitchburg, Massachusetts 01420

Sale Price Market
Lease Rate $8.00 /SqFt NNN
Sale Type Owner User
Zoning C&A
Bldg Type Multi-Tenant
Status Existing
Year Built 1949
Year Renovated 2006
Stories 2
Cap Rate 13.11%
Annual Taxes $5,228.00
Gross Bldg 7,912 SqFt
Total Avail 1,900 SqFt
Avail 1,900 to 0 SqFt
RBA 7,912 SqFt
Contig Space 7,912 SqFt
Land Area .09 Acres
Ceiling Height 14.0 Ft
Improvements River Frontage. Environmental (21E) Report available.
Net Op Inc $31,443
Beautifully maintained Retail/Flex building located on major road (Rt. 31 & 2A). Owner's used this nice property for their own business for the last 20+ years. Now retired, they are looking for new owners to make this property their own. Many updates include new building facade and windows in 2006. One newer heating system. Owners have cared for this building for over 20 yrs and it shows. Building is set up for (4) approx. 2000 sf retail/flex spaces with 3 bathrooms throughout. Great location for Start-up company, Home Decor/Furniture, Restaurant, Salon/Spa/Nails, Vape Shop or food related business just to name a few. Buyer to confirm uses with City. Previous business was a Home Decor/Furniture and was open for 20+ yrs until owners retired. Excellent Projected CAP on this Property. At asking price, with estimated below market rents and 25% Vac., this property produces a 13% CAP. A CAP of 10% (25% vac.) this property will support an asking price of $314,430.00. Owner retiring and says bring your offers! Located on River St. (Rt. 31 & 2A) near the corner of Oak Hill Rd. In the C&A zoning and has been a great retail site for decades. Several large apartment buildings, residential homes and plenty of business' close by. High traffic count of 10,117 (2W, 2017). Convenient location close to downtown and residential neighborhoods. Abutting property may also be available for purchase to add on-site parking for this property. Call for details.
  • Beautifully Maintained.
  • High Traffic count of 10,117 (2W, 2017).
  • Close to downtown and residential neighborhoods
  • River Frontage to possibly create outside seating with views of river.
  • On Street Parking for approx. 40 cars
  • On Street Parking for approx. 30 cars

1 Spaces

Free Standing Building
1,900 SqFt
$8.00 NNN
4/1/2020
1,900 SqFt
7,912 SqFt
Beautifully maintained Retail/Flex building located on State Road (Rt. 31 & 2A). Many updates include new building facade and windows in 2006. One newer heating system. Owners have owned and cared for this building for close to 20 yrs and it shows. Building is set up for (4) approx. 2000 sf retail/flex spaces with 3 bathrooms throughout. Great location for Start-up Company, Home Decor (existing business was open for 20 yrs, owners retiring), Veterinarian, Church, Restaurant, Salon/Spa/Nails, Massage, Professional Offices, Computer Software Development or Automotive related business just to name a few. Buyer to confirm uses with City. On Street Parking for approx. 30 cars
12/16/2019 4:04:06 PM 3/29/2020 3:25:44 PM
Richard Perkins
Associate
Coastal Land & Commercial Group (CLCG)
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