28 Hastings St Industrial Park 5 Industrial Properties Offered at $11,620,350 CAD in Mendon, MA

AIP Industrial is pleased to present for sale 28 Hastings Street in Mendon, Massachusetts, a five-building industrial park totaling approximately 72,136 square feet, including 66,652 square feet of ground-level space and 5,484 square feet of mezzanine area. The property is currently 100% leased and generates stable in-place income, supported by a long-tenured tenant base with average occupancy exceeding 10 years. The current rent roll is approximately $838,000 annually. All tenants are on gross leases with limited remaining term, providing an opportunity for future lease restructuring, including potential conversion to triple net (NNN) leases.
Buildings D and E feature solar installations completed in 2013, generating income through SREC and REC programs, as well as net metering arrangements with tenants. These programs currently have no defined expiration. Building C includes a 2020 solar installation enrolled in the SMART program, which provides incentive-based income through state and utility payments over a 20-year term. Collectively, the solar systems produced approximately $100,000 in additional income in 2025.
The asset includes a range of building vintages and specifications, from a 4,971-square-foot structure constructed in 1945 to two buildings completed in 2005 totaling over 24,000 square feet. Excluding the oldest structure, clear heights range from approximately 19 feet to 25 feet 9 inches. The property is equipped with 33 grade-level loading doors and three-phase power, supporting a variety of light industrial and service-oriented uses.
Located approximately 6.1 miles from Interstate 495 and 13.3 miles from Interstate 90, the property offers regional accessibility within a suburban setting. The site is situated in the General Business (GB) zoning district, which permits uses such as storage, wholesale, and light manufacturing, with additional uses allowed by special permit.
The property is located in Mendon, Massachusetts, within the Blackstone Valley region, and is supported by strong surrounding demographics, including average household incomes exceeding $136,000 within a five-mile radius.