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Two-Tenant Retail / Mixed-use Redevelopment 393 Main St 11,700 SF 100% Leased Retail Building Medford, MA 02155 For Sale
INVESTMENT HIGHLIGHTS
- Two-Tenant Retail Property comprised of 12k SF on Main Street in Medford, MA near Tufts University
- City of Medford is currently undergroing new zoning ordinanace to encourage more residential and mixed-use development.
- Multifamily / Mixed-Use Redevelopment Opportunity zoned C-1 allowing up to 5-Stories by Right
EXECUTIVE SUMMARY
Marcus & Millichap is excited to present the Medford Main Street Redevelopment opportunity located in Medford, MA, just 1/2 mile to MBTA Green Line, Tufts University and approximately 10-minutes north of Downtown Boston. The current building is a single story, two-tenant structure with approximately 12,000 SF on .18 acres with 70-feet of frontage. Zoning for this location is C-1 Commercial. The City of Medford is currently undergoing a Zoning Reform to allow more residential development. The current site allows for a five-story structure for this parcel allowing many use cases. The Main Street location presents a rare-to-market opportunity to build commercial, residential and/or mixed-use structure in a highly demanded submarket just north of Boston close to some of the best colleges/universities and employers in the country.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront
Building Size
11,700 SF
Building Class
C
Year Built
1950
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.49
Lot Size
0.18 AC
Zoning
Commercial - C-1 (see attached image). *Medford is currently in the process of updating their zoning ordinance which has passed initial approvals.
Frontage
65’ on Main Street
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (79)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | MEDF-000009-000000-V000040 | Improvements Assessment | $1,201,906 CAD |
| Land Assessment | $586,416 CAD | Total Assessment | $1,788,322 CAD |
PROPERTY TAXES
Parcel Number
MEDF-000009-000000-V000040
Land Assessment
$586,416 CAD
Improvements Assessment
$1,201,906 CAD
Total Assessment
$1,788,322 CAD
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Two-Tenant Retail / Mixed-use Redevelopment | 393 Main St
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