58 Concord StNorth Reading, MA 01864

Property Details for 58 Concord St

Year built

1968

Lot size

1.42 AC

Property size (Sq ft)

9,360 SF

Zone code

IB

Property type

Office buildings

APN

NREA M:019.0 B:0000 L:0014.0

APU

NREAM0190B0000L00140

Description

This exceptional 9,600 square foot, two-story office building is available for lease at 58 Concord Street in North Reading, MA. Built in 1968 and renovated in 2000, this single-tenant property sits on 1.42 acres of land and offers ample parking with approximately 38 spaces. The building features a functional layout including seven offices, a conference room, kitchen, two restrooms, and file storage on the first floor. The second floor boasts 19 private offices, two additional restrooms, and another conference room. A total of four restrooms are available across both floors, along with a convenient shower and break room with kitchenette. Note that there is no elevator in this building. An attractive feature is a separate, fenced-in 15,000+ square foot contractor yard area, available for lease at an additional cost. This property is ideally situated approximately one mile from the Concord Street exit on Route 93, providing easy access to Route 93. The building is zoned for industrial office use and is projected to be available for occupancy around July/August 2024. This presents a unique opportunity for a business seeking a substantial, well-maintained office space with convenient amenities and ample parking.

• CAP approach

  CAP return

  Valuation

  6%

  $1,547,488

  6.5%

  $1,428,450

  7%

  $1,326,418

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,222,978

  Geo Method

  $1,222,978

• Alternative Use

  Use

  Valuation

  Residential

  $1,771,278

  Hospitality

  $1,622,481

  Educational

  $1,349,885

  Medical

  $1,396,310

  Retail

  $2,099,822

Location Insight

City

North Reading

County

Middlesex

State

Massachusetts

Latitude

42.5602

Longitude

-71.1225

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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