1723-1729 Centre Street

$2,400,000

5,325 Sq.Ft.

Description

An amazing investment opportunity with tremendous development upside! Located on over 23,000 sq/ft in the heart of West Roxbury, this handsome 1930's brick retail strip mall contains 4 retail spaces in a 5,325 sq/ft building. Tenants include a pet groomer/kennel, two restaurants and a beauty salon. All businesses are on fixed term NNN leases w/the tenants responsible for property taxes, water/sewer, insurance + normal operating expenses. Gross rent eclipses $162,000 annually! With operating expenses reimbursed by the tenants, this is an incredible cash flow opportunity. On the development side, the property is located in the desirable Neighborhood Shopping (NS) zoning district which allows for buildings with a floor-to-area ratio of 2.0, 35' of building height and residential multifamily as an allowed use given parking. This lends itself to numerous options to expand or build new. A rare offering in an absolutely top notch location, just .2 miles from the Bellevue Commuter rail stop.

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Location

1723-1729 Centre Street, Boston, MA 02132

Status

Sold

Property Amenities

Area & Lot

Lot Area 0.53 Acres

Living area 5,325 Sq.Ft.

MLS® ID 73056962

Year Built 1930

Type Commercial

Status Sold

Exterior

Roof Rubber

Utilities Public Water, Public Sewer

Finance

Sales Price $2,400,000

Real Estate Tax $35,863 yearly

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West Roxbury

Located at the southwest corner of Boston, and bordering Brookline and Dedham.

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Let’s Talk Real Estate

The Residential Group at William Raveis Real Estate is a team of experienced agents, specializing in the sale of urban dwellings and new construction/renovation properties in Metropolitan Boston. They are consistently ranked among the top sales teams at William Raveis Real Estate and top teams in all of Massachusetts.

$2,400,000