Attleboro Retail for Sale - Attleboro/New Bedford
WHY
Properties for sale or available for an absolute ground lease directly from the
owner, who is also the listing real estate agent. No broker involved.
Seller prefers a 1031 exchange; however, it is not a condition of the transaction.
Owner sold the adjacent corner lot in a prior transaction.
CONTEXT FOR VALUE
The owner sold the opposite corner property on the same side of Route One
North in 2017 for $1,000,000. in cash. The highest offer received at that time was
$1,750,000. with financing. In my opinion, the comps do not accurately
reflect the true value of the subject properties.
Properties 1074 and 1078 are being offered as an assemblage, creating a larger
combined parcel with 50% more parking spaces than the opposite
corner property.
Property 1074 is a two-story mixed-use building, with office or residential use
permitted on the upper level and commercial use on the ground level. The
property is zoned General Business, is equipped with three-phase power, and
offers the potential for a drive-thru configuration.
The area draws from a population base of 101,245 in Pawtucket, 71,847 in
Central Falls, and 19,398 in south Attleboro, with an estimated total population of
146,654 within a 3-mile radius.
Interstate 95 South has an annual average daily traffic count of 50,173 vehicles
at exit 1 onto Route 1 South (Broadway). The exit ramp provides direct access to
the properties, with the potential for highway signage prior to the ramp.
I-95 Primarily serves Route 1 South of the highway, where the properties are
located. There is an on ramp to I-95 North from US route 1 just beyond the
properties, as well as an exit ramp from I-95 South on US Route 1 (Washington
Street) providing access to the properties.
The combined lots exceed the minimum requirement for redevelopment, allowing
for demolition of the existing structures and construction of a new building. The
total combined lot size is 13,547 square feet, surpassing the 10,000 square feet
zoning requirement. This supports a potential two-story development with
commercial use on the ground floor and office or residential use above. The
property also benefits from a designated GATRA bus stop and is within walking
distance of the South Attleboro Train station and nearby amenities.
SPECIAL CONDITIONS
For sale “as is” or available for an Absolute Ground Lease directly from the
owner.
PREVIOUS USES
- Offices/Residence
- Bakery/Wholesale catering for Vista donuts
- Car dealerships
- Grinder shop
- Restaurant
- Hostel
- Lodging house
- Ice Cream Parlor
- Paint and wallpaper store
- Textile manufacturing with looms.
Information obtained in public records for this listing, not responsible for the accuracy and completeness of this information, please verify accordingly.
