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Wakefield Building 416 Main St 21,000 SF 95% Leased Office Building Wakefield, MA 01880 $8,065,890 CAD ($384.09 CAD/SF) 5.65% Cap Rate
Investment Highlights
- Exceptional investment opportunity in a historically significant building originally constructed by Cyrus Wakefield in 1868.
- Located in the heart of downtown Wakefield, benefiting from strong visibility and proximity to area amenities and businesses.
- Consists of 42 diverse commercial units providing stable multi-tenant income with value-add potential through rental optimization.
Executive Summary
An exceptional opportunity to acquire a landmark 42-unit commercial building at the heart of downtown Wakefield. Originally constructed by Cyrus Wakefield, the industrialist after whom the Town of Wakefield was named in 1868, this property represents a rare convergence of historical significance, stable multi-tenant income, and a compelling rent-upside story that gives a buyer an immediate, low-risk path to value creation. The building is mostly tenancy at will. Those who have walked through the Wakefield Building invariably come away with something beyond a financial impression. The craftsmanship is immediate and undeniable — the massiveness of the structure, the robust mechanical systems, the sweeping staircases, the warmth of real wood throughout. There is a soul to this building that no modern construction can replicate, and visitors feel it instinctively. It is the rare quality of something built without compromise, in an era when buildings were made to last centuries. Check the website: wakefieldbuilding.com for more information.
More information: Rent roll and income/expenses will be shared upon signature of NDA (attached). We are exploring with the Town of Wakefield, residential-over-commercial conversion. Square footage is approximative. All documents are provided for informational purpose only. Buyer and Buyer Agent to do due diligence.
More information: Rent roll and income/expenses will be shared upon signature of NDA (attached). We are exploring with the Town of Wakefield, residential-over-commercial conversion. Square footage is approximative. All documents are provided for informational purpose only. Buyer and Buyer Agent to do due diligence.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
21,000 SF
Building Class
C
Year Built
1900
Price
$8,065,890 CAD
Price Per SF
$384.09 CAD
Cap Rate
5.65%
NOI
$455,723 CAD
Percent Leased
95%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,000 SF
Zoning
B - Zoned B (Business) with a mixed-use overlay district. We are exploring with the Town of Wakefield, residential-over-commercial conversion.
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Moderately walkable
70/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | WAKE-000017-000074-000148 | Improvements Assessment | $4,864,552 CAD |
| Land Assessment | $481,356 CAD | Total Assessment | $5,345,908 CAD |
Property Taxes
Parcel Number
WAKE-000017-000074-000148
Land Assessment
$481,356 CAD
Improvements Assessment
$4,864,552 CAD
Total Assessment
$5,345,908 CAD
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Wakefield Building | 416 Main St
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