Charlestown Industrial Building for
For Sale
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62 Alford Street, Charlestown, MA 02129
25,000 SF industrial building in Charlestown with redevelopment potential.
Property Size25,000 SF
Lot Size0.34 Acres
Price / SF$180
Days on Market218
Property Features for 62 Alford Street
General Information
Standard status
Active
Size
25,000 SF
Class
C
Lot size
0.34 Acres
Property subtype
Industrial
Zoning
I
Building Details
Year Built
1900
Buildings
1
Units
1
Listing Agency:
ABG Commercial Realty
Listed By:
Clare Thompson · License #MA 7492
(617) 492-9900
Source:
Crexi
Added: Mar 26
Changed: Oct 25
Last Checked: Oct 28 at 7:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ABG Commercial Realty
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Investment Insights
Based on property information with market context.
This industrial building in Charlestown, Massachusetts, offers approximately 25,000 square feet of usable space on a 14,700 square foot parcel of land. It has functioned as a manufacturing facility for leather softening products for over a century. The property is equipped for industrial operations with industrial grade utility service, steam boiler heating, and two loading docks. The property has grandfathered industrial zoning, along with recently upgraded overlay zoning for redevelopment. Situated at the Sullivan Square rotary of Charlestown, the location provides convenient access to Boston, interstate routes (rte 93, rt 1 Tobin Bridge, rte 99 Everett), and the MBTA Sullivan Sq Orange Line train and bus station. The property is located amidst new developments such as Encore Casino, Hood Park mixed use/life science development, Berkeley Development's The Graphic Lofts, and several recently approved projects, creating potential for redevelopment.
Key Highlights
- Prime location at Sullivan Square rotary in Charlestown, offering convenient access to Boston, major highways, and MBTA Sullivan Sq Orange Line train and bus station.
- Grandfathered industrial zoning with recently upgraded overlay zoning, creating redevelopment potential.
- Approximately 25,000 square feet of usable space on a 14,700 square foot parcel.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$263,109
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,262,180
$5.3M
Cap Rate 7%
$3,758,700
$3.8M
Cap Rate 9%
$2,923,433
$2.9M
Market Conditions
NOI Build-Up for 25,000 SF
Gross rent
$402.0K $16.08/SF
− Vacancy
−$26.1K −$1.05/SF
EGI
$375.9K $15.03/SF
− OpEx
−$112.8K −$4.51/SF
NOI
$263.1K $10.52/SF
Area
Boston, MA
Vacancy
6.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,262,180
Cap Rate 7%
$3,758,700
Cap Rate 9%
$2,923,433
Alternative Uses
Best Use
Industrial
$3.76M
$3.29M – $4.39M
NOI $263,109 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.72M
$16.38M – $21.84M
NOI $1,310,400 @ 7.0% cap · market cap 29.12%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,569
Businesses Nearby
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Business Placement
Demographics for 02129, MA
19,120
Population
9,987
Households
1.9
Avg Household Size
36
Median Age
71%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
13,657
Density / Sq Mi
$157,192
Median Household Income
$101,310
Median Earnings
$2,258
Median Rent
$926,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Manufacturing property - 25,000 SF industrial building in Charlestown with redevelopment potential.
Where is this manufacturing property located?
The property is located at 62 Alford Street Charlestown, MA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Prime location at Sullivan Square rotary in Charlestown, offering convenient access to Boston, major highways, and MBTA Sullivan Sq Orange Line train and bus station.; Grandfathered industrial zoning with recently upgraded overlay zoning, creating redevelopment potential.; Approximately 25,000 square feet of usable space on a 14,700 square foot parcel.
