1 Montvale Ave - Medical FOR SALE
Stoneham, MA 02180 |
NO PHOTO
Off Market
1 Montvale Ave
Stoneham, MA 02180
HIGHLIGHTS
- Office building with a history of institutional ownership, occupancy, and maintenance and the optionality to add an amenity or wellness center.
- Ability to create value by curating a tailor-made tenant roster through the lease-up of near-term available space.
- Excellent opportunity to acquire a prominent ±87%-leased asset at the crossroads of Montvale Avenue and Main Street with a strong in-place cash flow.
- There is potential to convert to medical, taking advantage of the local medical corridor, floor plate layout, and existing medical tenancy.
- Currently leased to four tenants with 100% credit tenancy and a weighted average commitment of ±19.6 years.
- Current ownership has invested close to $4.5 million in building improvements during their current hold period.
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
One Montvale - Medical/Office Building
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Medical
TOTAL BUILDING SIZE
99777
STORIES
5
BUILDING CLASS
B
YEAR BUILT
1945
SPRINKLERS
-
PARKING SPACES
298
LAND DETAILS
LAND ACRES
1.79 AC AC
LAND SF
77,972 SF
ZONING
-
APN/PARCEL ID
STON-000017-000000-000276