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50 Central Ave 4,700 SF 100% Leased Retail Building Needham, MA 02494 For Sale
INVESTMENT HIGHLIGHTS
- Owner-User or Redevelopment Opportunity
- Permitted 18-Unit Residential/Commercial Complex
- Unmatched Highway Access
- Existing 4,700 SF Retail/Office Building
- Strong Needham Demographics
EXECUTIVE SUMMARY
Opportunity to acquire 40–50 Central Street in Needham, Massachusetts. The property consists of a 4,700 SF retail/office building situated on a 32,016 SF lot (0.96 acres), offering a rare opportunity for an owner-user, investor, or developer to secure a well-located asset in one of MetroWest Boston’s most desirable suburban markets.
The existing two-story building supports a range of commercial uses while also offering exceptional redevelopment potential. The Town of Needham has approved permits for the construction of an 18-unit mixed-use project (15 residential units—three of which are affordable—and 3 commercial retail units), allowing a buyer to either proceed with an entitled development opportunity or explore alternative strategies aligned with their use.
Alternatively, 40–50 Central Street is well-suited for an owner-user seeking to stop paying rent and control their own real estate. The property can also be configured as a multi-tenant building with ample parking, catering to a wide range of flex and professional uses.
Ideally positioned near Needham Center, the property benefits from excellent access to I-95/Route 128, the Massachusetts Turnpike (I- 90), and public transportation via the Needham Heights Commuter Rail Station. With strong surrounding demographics, limited new multifamily supply, and consistent demand, 40–50 Central Street represents an outstanding opportunity to own, occupy, or redevelop a centrally located property in a highly sought-after suburban submarket West of Boston.
The existing two-story building supports a range of commercial uses while also offering exceptional redevelopment potential. The Town of Needham has approved permits for the construction of an 18-unit mixed-use project (15 residential units—three of which are affordable—and 3 commercial retail units), allowing a buyer to either proceed with an entitled development opportunity or explore alternative strategies aligned with their use.
Alternatively, 40–50 Central Street is well-suited for an owner-user seeking to stop paying rent and control their own real estate. The property can also be configured as a multi-tenant building with ample parking, catering to a wide range of flex and professional uses.
Ideally positioned near Needham Center, the property benefits from excellent access to I-95/Route 128, the Massachusetts Turnpike (I- 90), and public transportation via the Needham Heights Commuter Rail Station. With strong surrounding demographics, limited new multifamily supply, and consistent demand, 40–50 Central Street represents an outstanding opportunity to own, occupy, or redevelop a centrally located property in a highly sought-after suburban submarket West of Boston.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,700 SF
Building Class
C
Year Built
1965
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.15
Lot Size
0.73 AC
Zoning
NB - Neighborhood Business
Parking
16 Spaces (3.4 Spaces per 1,000 SF Leased)
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | NEED-000080-000009 | Improvements Assessment | $466,237 CAD |
| Land Assessment | $1,651,234 CAD | Total Assessment | $2,117,471 CAD |
PROPERTY TAXES
Parcel Number
NEED-000080-000009
Land Assessment
$1,651,234 CAD
Improvements Assessment
$466,237 CAD
Total Assessment
$2,117,471 CAD
CONTACTS
-
Tyler Capecci -
Jeremy Freid -
Adam Meixner -
Caroline Bonee -
Meghan Huebner -
128 CRE
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