690 Mechanic StLeominster, MA 01453

Property Details for 690 Mechanic St

Year built

1988

Construction

STEEL FRAME

Lot size

10.19 AC

Property size (Sq ft)

68,927 SF

Property type

Office buildings

APN

LEOM M:0445 B:0001A L:0000

APU

LEOMM0445B0001AL0000

Description

This exceptional Class A office building, located at 690 Mechanic Street in Leominster, Massachusetts, offers a significant leasing opportunity. The property boasts a total of 68,000 square feet, with 34,000 square feet currently available for lease. Built in 1988, this two-story building sits on a spacious 10.19-acre lot and features ample parking with 227 spaces. The property is zoned MU-1, providing flexibility for various commercial uses. Ideal for businesses seeking a modern and adaptable workspace, this executive office building offers a campus-like feel and excellent visibility in a thriving area. The building's substantial size and available space make it suitable for a variety of business needs. Located in Worcester County, this property provides easy access to major transportation routes and amenities. The well-maintained building offers a high-quality environment for businesses seeking a strategic location in Leominster, MA, zip code 01453. This is a rare opportunity to secure a substantial amount of prime office space in a desirable location. The property's size, parking, and zoning make it a highly attractive option for businesses looking to expand or relocate. The ample acreage provides room for future expansion or additional amenities. Don't miss this chance to establish your business in this impressive and well-situated office building.

• CAP approach

  CAP return

  Valuation

  6%

  $11,395,692

  6.5%

  $10,519,100

  7%

  $9,767,736

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,006,002

  Geo Method

  $9,006,002

• Alternative Use

  Use

  Valuation

  Residential

  $13,043,684

  Hospitality

  $11,947,945

  Educational

  $9,940,550

  Medical

  $10,282,421

  Retail

  $15,463,077

Location Insight

City

Leominster

County

Worcester

State

Massachusetts

Latitude

42.52

Longitude

-71.7305

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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