114 Pleasant St Southbridge, MA 01550-1236
This exceptional 9730+ square foot commercial property, situated on a 1.17-acre corner lot in downtown Southbridge, MA, presents a unique investment opportunity. Originally a schoolhouse, it underwent a complete refurbishment in 2013 and boasts a blend of office, lab, warehouse, and flex space, ideal for a variety of uses. The building is currently configured with offices, labs, a conference room, lounge, kitchen, machine shop, and shower room, making it suitable for a range of businesses. The property includes 32 on-site parking spaces, ensuring ample parking for employees and clients. Its prime location at a busy four-way intersection with a four-way stop provides excellent visibility and high traffic counts. Convenient access to major routes (90, 395, 20, 31, and 131) further enhances its appeal. The property is zoned OR (Office/Research) and benefits from its location within an Opportunity Zone. Recent upgrades include a brand new high-efficiency HVAC system with heat pumps (installed 12/4/24), a recoated roof with a 25-year transferable silicone warranty, a sprinkler system, a security system, keyless entry, and infrared rejecting film on the windows. LED lighting has also been installed throughout. The property is sold fully furnished and equipped, with current occupancy primarily in biotech/lab uses. Importantly, there are no long-term leases in place, offering flexibility for the new owner.
Limitations on signage, number of vehicles or parking spaces, noise, or hours of operation of construction equipment. 4. Limitation of size, method or hours of operation, extent of facilities, or other operating characteristics of a use. 5. Requirements pertaining to integrated emergency or alarm systems, maintenance, landscaping, dust control, wastewater di…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
OR · Southbridge, MALimitations on signage, number of vehicles or parking spaces, noise, or hours of operation of construction equipment. 4. Limitation of size, method or hours of operation, extent of facilities, or other operating characteristics of a use. 5. Requirements pertaining to integrated emergency or alarm systems, maintenance, landscaping, dust control, wastewater disposal or water supply, bond or other performance guarantee. 6. Requirements for independent monitoring, at the expense of the applicant, and reporting to the Zoning Enforcement Officer, if necessary to ensure continuing compliance with the conditions of a special permit or of this By-law. 7. Term for years with or without automatic renewals, to the extent allowed by law. 8. Requirements pertaining to tree protection, maintenance, or replacement. 9. Other limitations as may be reasonably related to reducing any adverse impact on, or increasing the compatibility of the proposed use, structure or activity with, the surrounding area. F. Special permits shall lapse within two years, which shall not include such time required to pursue or await the determination of an appeal under G.L. c. 40A, § 17 , from the grant thereof, if a substantial use thereof has not sooner commenced except for good cause, or, in the case of a special permit for construction, if construction has not begun by such date except for good cause. G. Special permits shall not take effect until filed with the Town Clerk. Proof of recording with the Registry of Deeds or Registry District of the Land Court shall be presented to the Zoning Enforcement Officer. H. Any special permit granting authority may hire professional consultants at the applicant’s expense pursuant to G.L. c. 44, § 53G , to assist with review of a special permit application; provided, that the procedures for hiring outside consultants are set forth in the applicable board’s rules and regulations. 2.6 Site Plan Approval. 2.6.1 Purposes. Site plan review is a means of managing the aesthetics and environmental impact of land use by the regulation of permitted uses, not their prohibition. Its purpose is to assure protection of the public interest consistent with a reasonable use of the site for the purposes permitted in the district. Accordingly, no building permit shall be issued for any use, site, or building alteration, or other improvement, that is subject to this Section 2.6 unless an application for site plan review has been submitted in accordance with the following requirements. 2.6.2 Applicability. Site plan review shall apply to the following: A.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
