74 Needham StNewton, MA 02461

Property Details for 74 Needham St

Year built

1930

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

4,852 SF

Zone code

MU2

Property type

Retail properties

Property subtype

Retail space

APN

NEWT S:83 B:011 L:0021

APU

NEWTS83B011L0021

Description

This exceptional retail property at 74-76 Needham Street in Newton Highlands, Massachusetts, presents a unique investment opportunity. The single-story building offers 4,852 square feet of space situated on a generous 10,000 square foot lot. The property includes 12 parking spaces, a significant advantage in this desirable location. Currently vacant, this building offers a blank canvas for a variety of retail or office uses. Note that the property's previous use was as a dry cleaner. Prospective buyers are responsible for conducting their own environmental investigations to determine the extent of any necessary remediation. This is a rare opportunity, as the property has been under the same ownership for 80 years, making it a truly unique offering in the Newton Highlands market. The property is located in Middlesex County, Massachusetts, with a zip code of 02461. Its convenient location and ample parking make it an attractive proposition for businesses seeking a high-visibility presence in a thriving community. The building's size and layout offer flexibility for various business needs, making it an ideal space for a wide range of retail or office concepts. This is a chance to acquire a substantial property with significant potential in a prime location. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,179,205

  6.5%

  $1,088,497

  7%

  $1,010,747

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,597,585

  Geo Method

  $1,597,585

• Alternative Use

  Use

  Valuation

  Residential

  $918,188

  Hospitality

  $841,055

  Educational

  $699,748

  Medical

  $723,814

  Retail

  $1,088,497

Location Insight

City

Newton

County

Middlesex

State

Massachusetts

Latitude

42.3146

Longitude

-71.2107

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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