• 408 River St, Fitchburg, MA 01420

This property isn't on the market right now.

Property Details

408 River St CALL for OFFERS

CALL FOR OFFERS for this nice property. Owner used this property for their retail business for over 20 years. Now retired, they want to move on and are Calling for Offers to be submitted by noon, May 30, 2020. Reserve must be met and seller has the right to extend, shorten, alter, accept or reject any offer, at the sole discretion of the owner.
Excellent Projected CAP on this Property. At asking price, with below market rents of $8/sf NNN and a high vacancy rate of 25%, this property is projected to produce a 13 CAP. With a projected CAP of 10 this property will support an asking price of $314,430.00. Building will be delivered vacant. Your value add by adding tenants and collect the rent, or flip to move on to your next project.
Updates include new building facade and windows in 2006. A newer heating system. Owners have cared for this building for over 20 yrs and it shows. Building is set up for (4) approx. 1900 sf retail/flex spaces with 3 bathrooms throughout. Great location for Start-up company, Home Decor/Furniture, Restaurant, Salon/Spa/Nails, Vape Shop or auto related business just to name a few. Buyer to confirm all proposed uses with City.

  • Property Type
    Retail
  • Year Built
    1949
  • Total Building Size
    7,912RSF
  • Total Acres
    0.09
  • Last updated
    Jul 01, 2020
  • Property ID
    1501636

Landlord's Leasing Representatives

  • Duncan Chapman III
    Keller Williams
     
  • Richard Perkins
    Keller Williams