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76 Summer St
Fitchburg, MA 01420
Crown Point Office Center · Bureau Propriété À vendre
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Faits saillants de l'investissement
- Exceptional in place yield@ 11%+ cap rate
- Fragmented tenant base
- Growing service based tenant denmand
- Significant lease up opportunity / end user space
- Strong parking advantage
Résumé de l'annonce
Value-Add Multi-Tenant Office Investment with projected ~$500,000 Stabilized NOI
76 Summer Street in Fitchburg MA presents a compelling opportunity to acquire a four-story, elevator-served multi-tenant office building offering strong in-place income with significant upside through strategic leasing and asset management. The property features approximately 55,000 square feet of gross building area and approximately 40,000 square feet of net rentable space, situated on 2.29 acres with ample on-site parking and flexible suite configurations.
Currently configured as a 68-suite professional office asset, the property accommodates a diverse tenant base ranging from small professional users to larger full-floor occupants. Suite sizes can be subdivided from approximately 94 square feet to 11,000 square feet, allowing the building to support a broad range of tenant requirements and enhancing leasing flexibility.
The asset is currently generating strong in-place income while offering investors a clear path to value creation through lease-up of existing vacancy, mark-to-market rent growth, and operational efficiencies. With approximately 20% vacancy, the property provides meaningful embedded upside and the opportunity to significantly increase Net Operating Income through targeted leasing initiatives.
Upon stabilization, the property is projected to achieve approximately $500,000 in annual NOI, positioning the asset as an attractive opportunity for investors seeking both current cash flow and long-term value appreciation.
Investment highlights
• Value-Add Office Investment Opportunity with projected NOI growth potential
• 68-suite multi-tenant office building with flexible configurations
• Suite sizes from approximately 94 SF to 11,000 SF accommodating diverse tenant profiles
• Approximately 55,000 SF gross building area with approximately 40,000 SF rentable area
• 4-story elevator-served building with professional management infrastructure
• 2.29-acre site with abundant on-site parking
• Strong in-place income with immediate cash flow
• Approximately 20% vacancy creating substantial lease-up opportunity
• Projected stabilized NOI of approximately $500,000
76 Summer Street in Fitchburg MA presents a compelling opportunity to acquire a four-story, elevator-served multi-tenant office building offering strong in-place income with significant upside through strategic leasing and asset management. The property features approximately 55,000 square feet of gross building area and approximately 40,000 square feet of net rentable space, situated on 2.29 acres with ample on-site parking and flexible suite configurations.
Currently configured as a 68-suite professional office asset, the property accommodates a diverse tenant base ranging from small professional users to larger full-floor occupants. Suite sizes can be subdivided from approximately 94 square feet to 11,000 square feet, allowing the building to support a broad range of tenant requirements and enhancing leasing flexibility.
The asset is currently generating strong in-place income while offering investors a clear path to value creation through lease-up of existing vacancy, mark-to-market rent growth, and operational efficiencies. With approximately 20% vacancy, the property provides meaningful embedded upside and the opportunity to significantly increase Net Operating Income through targeted leasing initiatives.
Upon stabilization, the property is projected to achieve approximately $500,000 in annual NOI, positioning the asset as an attractive opportunity for investors seeking both current cash flow and long-term value appreciation.
Investment highlights
• Value-Add Office Investment Opportunity with projected NOI growth potential
• 68-suite multi-tenant office building with flexible configurations
• Suite sizes from approximately 94 SF to 11,000 SF accommodating diverse tenant profiles
• Approximately 55,000 SF gross building area with approximately 40,000 SF rentable area
• 4-story elevator-served building with professional management infrastructure
• 2.29-acre site with abundant on-site parking
• Strong in-place income with immediate cash flow
• Approximately 20% vacancy creating substantial lease-up opportunity
• Projected stabilized NOI of approximately $500,000
Faits sur la propriété
Type de vente
Investissement ou propriétaire utilisateur
Type de propriété
Bureau
Sous-type de propriété
Médical
Taille du bâtiment
55 000 pi²
Classe d’immeuble
C
Année de construction/rénovation
1960/2024
Prix
4 986 864 $ CAD
Prix par pi²
90,67 $ CAD
Taux de capitalisation
11,72%
Revenu net d’exploitation
584 571 $ CAD
Pourcentage loué
80%
Location
Multiples
Hauteur du bâtiment
4 étages
Superficie de plancher typique
13 750 pi²
Dalle à dalle
13’
Coefficient d’occupation des sols de l’immeuble
0,55
Taille du lot
2,29 AC
Zonage
RC, Fitchburg - résidentiel/entreprise
Stationnement
300 places (5,45 places par 1 000 pi² loué)
Commodités
- Gestionnaire d'immeuble sur place
Impôts fonciers
| Numéro de lot | FITC-000070-000013 | Évaluation des bâtiments | 4 286 348 $ CAD |
| Évaluation du terrain | 614 492 $ CAD | Évaluation totale | 4 900 840 $ CAD |
Impôts fonciers
Numéro de lot
FITC-000070-000013
Évaluation du terrain
614 492 $ CAD
Évaluation des bâtiments
4 286 348 $ CAD
Évaluation totale
4 900 840 $ CAD
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