Description
An amazing investment opportunity with tremendous development upside! Located on over 23,000 sq/ft in the heart of West Roxbury, this handsome 1930's brick retail strip mall contains 4 retail spaces in a 5,325 sq/ft building. Tenants include a pet groomer/kennel, two restaurants and a beauty salon. All businesses are on fixed term NNN leases w/the tenants responsible for property taxes, water/sewer, insurance + normal operating expenses. Gross rent eclipses $162,000 annually! With operating expenses reimbursed by the tenants, this is an incredible cash flow opportunity. On the development side, the property is located in the desirable Neighborhood Shopping (NS) zoning district which allows for buildings with a floor-to-area ratio of 2.0, 35' of building height and residential multifamily as an allowed use given parking. This lends itself to numerous options to expand or build new. A rare offering in an absolutely top notch location, just .2 miles from the Bellevue Commuter rail stop.
