Listed by NAI Parsons Commercial Group Boston
Unpriced
Cornerstone Square
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 14,120
Occupancy 100%
Tenancy Multi
Year Built 1985
Acreage 1.500
Retail | 14,120 SqFt
Marketing description
NAI Parsons Commercial Group is pleased to exclusively offer for sale Cornerstone Square located at 292 Main Street, Northborough, Massachusetts (the "Property"). The Property consists of a fully occupied 14,120± square foot neighborhood center situated on a prominent 1.5± acre corner parcel along the highly traveled Route 20 corridor.
Cornerstone Square represents an attractive opportunity to acquire a well-located, fully leased neighborhood retail center with stable tenancy, strong market fundamentals, and long-term investment potential within the Greater Boston marketplace.
Investment highlights
- Established Neighborhood Center - 100% leased with 12 flexible-size suites and a diverse tenant mix.
- Strong Tenant Retention - Historically high occupancy with median tenant tenure exceeding 13 years.
- Prominent Signalized Location - Positioned at the intersection of Route 20 & Bartlett Street with exposure to 12,333± vehicles per day.
- Excellent Regional Access - Convenient access to I-495, I-290, and the Massachusetts Turnpike (I-90).
- Affluent MetroWest Trade Area - Located near Northborough Crossing and supported by strong demographics, including $213K+ average household income within one mile.
- Future Upside Potential - Opportunity to increase value through lease rollover and rental rate optimization.
- Low Tax Environment - Northborough features a favorable single tax rate of $14.82 per $1,000 of assessed value
Listing Contacts
Listed by NAI Parsons Commercial Group Boston
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