63 Smiths LnKingston, MA 02364

Property Details for 63 Smiths Ln

Lot size

5.80 AC

Property type

Commercial real estate

APN

KING M:0076 B:0098

APU

KINGM0076B0098

Description

This exceptional investment opportunity presents a 22,725 square foot, Class B office complex in Kingston, Massachusetts. The property consists of two buildings: a 15,440 square foot main office building with a modern build-out and elevator, and a 7,285 square foot office/flex building with loading infrastructure. Built in 1984 and renovated in 2011 and 2021, the property sits on a 5.8-acre lot (234,556 sq ft) with 588 feet of frontage on Route 3, offering excellent visibility and convenient access. Currently 100% occupied under a single-tenant, net lease (NNN) agreement with a corporate guarantor, the lease has a remaining term of six years with rent bumps and a five-year renewal option. The property is zoned for commercial use and enjoys a strategic location near the Kingston Collection shopping center and the Kingston Commuter Rail Station, providing easy access to Boston. This core investment offers a compelling 6.87% cap rate, making it an attractive addition to any portfolio. The property's versatile design allows for continued use as office space or potential conversion of the second building to warehouse/flex space. The well-landscaped grounds, including a charming brook, enhance the property's appeal. This is a rare opportunity to acquire a high-quality, strategically located commercial property with strong tenant occupancy and a significant remaining lease term.

• CAP approach

  CAP return

  Valuation

  6%

  $47,339,600

  6.5%

  $43,698,100

  7%

  $40,576,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $33,011,000

  Geo Method

  $33,011,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $86,031,600

  Retail / Commercial

  $44,116,600

  Mixed-Use / Specialty

  $43,959,300

  Hospitality / Lodging

  $32,251,500

  Office

  $43,698,100

  Institutional / Educational

  $45,699,900

  Residential Income

  $53,468,900

  Multifamily

  $64,127,700

  Automotive / Energy

  $39,171,400

  Parking / Income-Based Land

  $13,517,600

  Restaurant / Food Service

  $22,863,600

  Healthcare / Senior Housing

  $45,079,400

Location Insight

City

Kingston

County

Plymouth

State

Massachusetts

Latitude

41.9789

Longitude

-70.7104

CBSA code

14460

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].