Northeast Private Client Group is pleased to present the Summer Street Retail Property located on 21 Summer Street in Natick, MA.
This 3,684 SF brick building built in 1942 consists of two retail tenants that cover all operating expenses. Landlord paid taxes and insurance. Additional income from storage/parking of $5,400 a year. Rubber roof and windows were updated 4-5 years ago. Significant value add through raising rents and future re-development.
Downtown Natick is experiencing unprecedented growth and development. This Summer Street location is zoned Downtown Mixed Use and sits on a 0.23 Acre (10,018 SF) lot, which gives a buyer the unique opportunity to re-position or demolish and develop a 5-story mixed use building at this location.
Natick has a population of about 32,786 and is 10 miles west from Boston. Natick is undergoing a high amount of retail development and boasts retail properties in both East and west Natick. The median household income as of 2007 was
$61,855. The city is surrounded, on three sides, by five of the ten most affluent towns in Mass, including Wayland, Weston, Wellesley, Dover and Sherborn.
All qualified and interested parties will have the opportunity to tour the property during scheduled obtain additional information upon request.