44 South StWestborough, MA 01581

Property Details for 44 South St

Year built

1912

Property size (Sq ft)

16,327 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional investment opportunity presents a stabilized, mixed-use portfolio comprising two buildings totaling 16,327 square feet situated on a 12,169 square foot lot in Westborough, Massachusetts. The portfolio includes 29 units, a mix of apartments (including single-room occupancy units and studios), and retail space currently occupied by a long-term tenant under a NNN lease. The buildings, constructed in 1912 and extensively renovated in 2021, boast significant capital improvements including new HVAC systems, vinyl windows, sprinkler systems, fire alarms, security cameras, updated electrical panels, and interior renovations to kitchens and bathrooms. The property features a current NOI of $271,962 and a pro-forma NOI of $311,123, resulting in a 7.77% cap rate and a pro-forma cap rate of 8.89%. The asking price is $3,500,000, translating to a price per square foot of $214.37 and a price per unit of $120,689.66. The property is zoned BB and benefits from 100% occupancy with a lease expiration date of May 31, 2029, offering a remaining lease term of 4.5 years. Additional income is generated from coin-operated laundry machines in the basement. This portfolio offers a compelling blend of stable income and significant upside potential. The property is located at 44 South Street and 50 West Main Street, Westborough, MA 01581. The APN is 21-85-0.

Location Insight

City

Westborough

County

Worcester

State

Massachusetts

Latitude

42.2679

Longitude

-71.612

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