206 Washington St, North Attleboro, MA 02760-2390
- Grocery and convenience stores
- 70,770 SF
- 11.52 lot acres
Current Use by Public Records
- Grocery and convenience stores
Property Details for 206 Washington St
- Year built
- 1993
- Construction
- STEEL FRAME
- Lot size
- 11.52 lot acres
- Zone code
- C60
- Property type
- Grocery and convenience stores
- APN
- NATT M:0004 B:0134 L:0000
- APU
- NATTM0004B0134L0000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 3, 2006 | — | Lantern Plaza LP | — | Deed Of Trust · related | $13.6M · Merrill Lynch Mortgage Corp |
| Aug 13, 1998 | — | Lantern Plaza LP | — | Deed Of Trust · related | $10.6M · Boston Capital Mortgage Co |
| Mar 25, 1993 | $1,000,000 | Lantern Plaza LP | Minas RT | Grant Deed | — |
| Mar 25, 1993 | $2,600,000 | Lantern Plaza LP | M&k T | Grant Deed | — |
| Oct 13, 1989 | — | M | — | Deed Of Trust · related | $1.7M · Us Trust Co |
Description
Lantern Plaza, a Class A retail property in North Attleborough, MA, presents a compelling investment opportunity. This 71,297 square foot shopping center is anchored by a Stop & Shop grocery store, which has occupied the space since its construction in 1993 and recently extended its lease through December 2028. The property boasts 100% occupancy, with a second tenant, a restaurant, under a lease extending to February 2026. The Stop & Shop lease is a net lease with a corporate guarantee, providing strong tenant credit. The property features 490 parking spaces and sits on a 12.85-acre lot zoned C60 - Limited Highway Commercial District. Located on Route 1 (East Washington Street), at a signalized intersection, the property benefits from high visibility and significant traffic volume (15,267 vehicles per day). The property underwent renovations in 2018, demonstrating the tenant's long-term commitment. The asking price is $18,700,000, representing a 7.30% cap rate and a net operating income (NOI) of $1,355,596. The property is offered free and clear of existing debt. Detailed lease information and rent bumps are available upon request. This is a stabilized, net lease investment with a strong tenant and excellent location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $18,480,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $24,225,000
- 6.5%
- $22,360,000
- 7%
- $20,765,000
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $11,610,000 Current use
- RESTAURANT
- $16,565,000 Change: +43% Conversion: Easy
- AUTO REPAIR, GARAGE
- $12,595,000 Change: +8% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- North Attleboro
- County
- Bristol
- State
- Massachusetts
- Longitude
- -71.3325
- Latitude
- 41.9726
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
