235 Main St Middleton, MA 01949-2445
- Retail space
- 14,412 SF
- 2.47 lot acres
Current Use by Public Records
- Walgreens Photo / Passport Photo Processor / Photo Lab
- Walgreens / Convenience Store / Cosmetics Store
- Walgreens Pharmacy / Pharmacy
- COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
- Western Union / Money Transfer Service
Property Details for 235 Main St
- Year built
- 2008
- Construction
- STEEL FRAME
- Lot size
- 2.47 lot acres
- Property size
- 14,412 SF
- Zone code
- M1
- Property type
- Retail space
- APN
- MIDD M:0033 B:0000 L:0031 B
- APU
- MIDDM0033B0000L0031B
Description
This exceptional Class A retail investment opportunity presents a 14,412 square foot Walgreens pharmacy, built in 2008, located at 235 S Main St, Middleton, MA 01949. Boasting a strong 6.6% cap rate and a substantial $500,000 NOI, this property offers a secure, long-term investment with a remaining lease term of 10 years, plus 50 years of additional options, extending to 2034. The property sits on a 112,761 square foot lot and is zoned M1. The asking price is $7,500,000, translating to a price per square foot of $520.40. This Walgreens benefits from a prime location in a high-traffic area, directly across from a Market Basket anchored plaza and near other prominent retailers including TJ Maxx, Bob's Stores, JoAnn Fabrics, Starbucks, and a Chase bank branch. The property's strategic placement within a thriving retail corridor, coupled with the presence of a recently built 99 Restaurant, ensures consistent high visibility and customer traffic. Middleton, MA, boasts a strong demographic profile, with a median household income of $166,215, supporting robust consumer spending. The Walgreens location is ranked highly in terms of customer visits, further underscoring its exceptional performance and potential for continued growth. This is an absolute NNN lease, offering a passive income stream with minimal landlord responsibilities. The property has a 100% occupancy rate since its opening in April 2009. This is a rare opportunity to acquire a high-performing, well-located Walgreens with significant long-term growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $8,725,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $7,405,000
- 6.5%
- $7,055,000
- 7%
- $7,945,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $7,530,000
- Geo Method
- $7,825,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $6,305,000
- Retail
- $7,650,000
- Mixed-Use
- $6,155,000
- Hospitality
- $7,630,000
- Educational
- $8,220,000
- Residential Income
- $8,100,000
- Energy
- $7,850,000
- Income-Based Land
- $6,865,000
- Food Service
- $7,800,000
Location Insight
- Map
- Local Demand
- City
- Middleton
- County
- Essex
- State
- Massachusetts
- Longitude
- -71.0003
- Latitude
- 42.5782
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
