260 Beacon Street
260 Beacon St Somerville , MA 02143

260 Beacon Street - retail for sale

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Overview



Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to market 260 Beacon Street (the “Property”), a brand-new, 3,000 SF retail condo located in the heart of Somerville and within 1.0 mile of the areas’ most populated town squares; Harvard Square, Union Square, Porter Square and Davis Square. Located along one of the busiest commuter bike lanes in the state and in one of the fastest-growing neighborhoods in metropolitan Boston, 260 Beacon is a generational investment.


The ground floor retail is currently 100% occupied by today’s urban Investors’ soup du jour - a popular fitness barre studio (Barre3) and aesthetician (Brows by Renata), ideal tenancy for today’s urban consumer.

Investment highlights



·       Rare urban asset in Greater Boston

·       Brand new NNN leases with fitness studio and salon - both experienced operators

·       Commercial condo below a new construction, high-end 17-unit condo development

·       Located near Harvard University, MIT, and Tufts University

·       Affluent area with HH incomes of nearly $120,000

·       High-growth submarket - Somerville has experienced 15% population growth over the last 10 years

General
Property type Retail
Property subtype High street
Tenure type Sale/Purchase
Property address 260 Beacon St, Somerville, MA 02143-3534
Land in acres 0.41
Building size 3,022  ft2
Year built 2019
Financial
Price $2,000,000
Cap rate 6.04%
Current NOI $120,880.00
Lease

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