Listing Agency: 128 CRE j***@greatrock.com Show Phone

Listed By: Tyler J. Capecci · License #9089542-RE-B Show Phone

Source: Moodyscre

Added: Oct 24, 2025 Changed: Jul 6 Last Checked: Jul 21 at 6:39AM

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Investment Insights

Based on property information with market context.

Located in Needham, Massachusetts, the property at 40-50 Central Street features a 4,700 square foot retail/office building on a 32,016 square foot lot, equivalent to 0.96 acres. This property presents opportunities for owner-users, investors, or developers in the MetroWest Boston suburban market. The existing two-story building is suitable for various commercial uses and offers redevelopment potential. Permits have been approved for an 18-unit mixed-use project, including 15 residential units (three affordable) and 3 commercial retail units, providing an option for entitled development or alternative strategies. The property is also suitable for an owner-user aiming to control their real estate or as a multi-tenant building with ample parking, accommodating flex and professional uses. Situated near Needham Center, the property provides access to I-95/Route 128, the Massachusetts Turnpike (I-90), and public transportation via the Needham Heights Commuter Rail Station. The location benefits from strong demographics, limited new multifamily supply, and consistent demand, making it a centrally located property in a sought-after suburban submarket west of Boston.

Key Highlights

• Approved permits for an 18‑unit mixed‑use project (15 residential, 3 commercial) offer immediate redevelopment potential.
• Located in a highly desirable MetroWest Boston suburban market with strong demographics and limited multifamily supply.
• Existing 4,700 SF retail/office building suitable for owner‑user or multi‑tenant configuration.

Property Analytics

Property Profile

Current Use

NYB SR22 Insurance ... Insurance Agency

Suggested Use

Top Pick Nail Salon Hair Salon Grocery & Convenience Store Parking Lot & Garage Food Market Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

143

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - 4,700 SF retail/office building with redevelopment potential in Needham.

Where is this mixed-use property located?

The property is located at 50 Central Ave Needham Heights, MA.

What are key features of this property?

This property features: Approved permits for an 18‑unit mixed‑use project (15 residential, 3 commercial) offer immediate redevelopment potential.; Located in a highly desirable MetroWest Boston suburban market with strong demographics and limited multifamily supply.; Existing 4,700 SF retail/office building suitable for owner‑user or multi‑tenant configuration.