The Capitol Block
Mixed-Use Landmark Asset - 6 retail & 18 apartments
Marketing description
202-218 Massachusetts Avenue, known as the Capitol Theatre Building or Capitol Block, is prominently located on the corner of Lake Street and Mass Ave. in Arlington, MA. This historic building was constructed in 1915 by the Locatelli Family and the Capitol Theater opened in 1925.
The three-story mixed-use property contains twenty-four (24) units comprised of six (6) commercial suites and eighteen (18) residential apartments. There is approximately 50,032 ± SF of gross building area, and 39,900 ± SF of rentable area per the rent roll.
The Capitol Theatre is the largest tenant and occupies approximately 20,000 ± SF. It includes six (6) Auditoriums (movie theaters) with seating from 65 to 287 people. The cinemas feature digital production and sound and some with REAL-D 3D, and Dolby Digital sound. In addition, there is a concession stand serving soft drinks, candy, buttered popcorn, ICEE frozen slushies, Richardson’s Ice Cream, and Beer and Wine. As a major neighborhood draw, the theater is a prime destination for birthday parties. 202-218 Mass Ave. has served as a cornerstone of the community for over a century and is known to Arlington residents as “Your Home Theatre”
The other commercial units include five (5) retail storefronts ranging in size from 600 – 1800 ± SF. Many of these tenants are long-term businesses, successfully operating at this location for decades.
Investment highlights
202-218 Massachusetts Avenue is part of the 3 building Arlington - Somerville Portfolio:
The Arlington–Somerville Portfolio presents a rare opportunity to acquire three iconic mixed-use and multifamily assets totaling more than 130,000 square feet in two of Greater Boston’s most desirable, supply constrained locations: Davis Square in Somerville and Massachusetts Avenue in East Arlington. The fully occupied portfolio includes ten commercial suites and sixty-one apartment units across the historic Capitol Block (202–218 Massachusetts Avenue, Arlington), the landmark Somerville Theatre Building (49–55 Davis Square, Somerville), and the Bryant Chambers Apartment Building (36 College Avenue, Somerville).
Together, these irreplaceable assets occupy prime transit-oriented locations with strong demographics, limited new supply, and sustained tenant demand. The portfolio offers stable cash flow, diversified income streams, and long-term appreciation potential backed by exceptional locations and significant barriers to entry.
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