Retail•Free Standing Building•For Sale

408 River St., Fitchburg, Massachusetts 01420

Sale Price $239,900
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
RBA 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 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 Home Decor (existing business open for 20 yrs, owners retiring), Restaurant, Salon/Spa/Nails, Vape Shop or automotive related business just to name a few. Buyer to confirm uses with City. Excellent CAP on this Property. At asking price, with estimated below market rents (w/25% Vac.), this property produces a 13% CAP. A CAP of 10% (w/25% vac.) this property will support an asking price of $314,430.00. Owner retiring and says bring your offers! Some Light fixtures are not included (store inventory). 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.
  • 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.
12/7/2018 2:55:26 PM 2/14/2019 2:08:41 PM
Richard Perkins
Associate
Coastal Land & Commercial Group (CLCG)

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