71 River Rd W - Day Care Center FOR SALE


Berlin, MA 01503
$4,250,000 USD
617-896-7230
71 River Rd W, Berlin, MA for Sale
$4,250,000 USD
Day Care Center - FOR SALE
1/2
null | 7.42% Cap Rate

71 River Rd W
Berlin, MA 01503


HIGHLIGHTS

  • Located Directly Adjacent to The Rockwell a 204 Unit Luxury Multifamily Development | Opposite 80,000 SF Homewood Suites | Across from Nouria C-Store
  • Riverbridge Village is Located Within the Second Largest Metro Trade Area in New England | 15 Minutes from Downtown Worcester, MA
  • Visibility from Interstate 290 Exit Ramp ½ Mile Away and 2.5 Miles to Interstate 495
  • Over 1M SF of Retail Within 1 Mile | Solomon Pond Mall at 900,000 SF (Apple, Macy's, JC Penney, H&M) | Target, Best Buy, DSW
  • 4 Minutes to the 125,000 Square Foot Digital Federal Credit Union Headquarters Facility | ½ Mile to over 800,000 SF of Industrial Park

OVERVIEW

The subject property is the Growing Room Child Development Center located at 71 River Road West in Berlin, MA. The town of Berlin is located within Worcester County at the intersection of Interstates 290 and 495. This parcel is located in the Southern section of town with direct visibility from the I-290 Exit ramps. The 1.20 Acre parcel is comprised of a 12,766 Growing Room Child Development Center which currently has 11 centers in five states and continues to expand. The tenant originally signed a 10 year lease with increases and options and recently recast the lease for a fresh 10 year term with a 5 year option. The site is adjacent to a new 204 unit luxury multi family development known as the Rockwell Apartments which shares two points of access off of River Road West. Across the street is a Nouria Gas and Convenience store with a Dunkin’ and an adjacent 80,000 SF Homewood Suites by Hilton. Other tenants in the immediate area include The Village Café, Berlin Liquors and the Autism Behavioral Center. The property is located within ½ mile of Interstate 290 which connects to Interstate 495 (2.5 Miles) and a major retail node with over 1M square feet of retail space including the Solomon Pond Mall (900,000 SF Anchored by Apple, Macy’s, JC Penney, H&M), Target, Best Buy, DSW and the 125,000 SF Headquarters for Digital Federal Credit Union (DFCU). Also within ½ mile is over 800,000 square feet of Industrial and lab space leased to tenants such as Genzyme, STERIS, Anderson and Wolf Building Products. Further South of I-290 and within 1 mile is another 1.5M square feet of industrial, office and lab spaces. Neighboring Marlborough, MA is home to over 40,000 residents and is a hub of high tech lab and office spaces from such companies as TJX, Raytheon, HP, AMD, Navilyst Medical, Netezza, Boston Scientific, Sunovian, AT&T, Apple, Evergreen Solar, Fidelity Investments, Quest Diagnostics, Lucent Technologies, CVE, Cavium, Hologic, NAPA Auto Parts and BJ’s Wholesale Club. Berlin is also only 15 minutes from downtown Worcester, MA which is currently experiencing a dramatic revitalization. Wide reaching economic development such as their new baseball stadium, expanded hospital facilities and thousands of new apartments serving the expanding employment base as well as the 6 colleges and universities which include Clark University, Worcester Polytechnic Institute (WPI), Assumpton University, College of Holy Cross, Worcester State University and Quinsigamond Community College.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$333 USD /SF

CAP RATE

7.42%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Growing Room Preschool

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Day Care Center

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

95.61 AC

LAND SF

4,164,755 SF

ZONING

-

APN/PARCEL ID

BERL-000030-000012-000002

ASK ABOUT THIS PROPERTY

Laurie Ann DrinkwaterMarcus & MillichapMore Info
617-896-7230

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Laurie Ann DrinkwaterMarcus & MillichapMore Info
617-896-7230

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.