260 Beacon Street - retail for sale
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 | |
260 Beacon Street - retail for sale
Presented by:
-
Broker of record
- Kellie Coveney
- kcoveney@hfflp.com
- +1(339)-236-0420
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