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Shopping Strip

Dollar Valley Shopping Center

553 Main St, Tewksbury, MA 01876

Listing Price: $3,100,000

Cap Rate
6.94%
Gross SF
17,005
Rentable SF
17,005
Price/Gross SF
$182.30
Lot Size
14.00 acres
Year Built
1982

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of a 6-unit retail condo in the Dollar Valley Shopping Center, a 93,298 Square foot multi-tenant retail condo center located in affluent Tewksbury, MA market with a median household income of over $100,000 within a 1-mile radius. The offering is for a 6-unit retail condo (17.005 S.F.), which is part of the shopping center anchored by Ocean State Job Lot. The property has been very well maintained with substantial recent capital improvements, including a new parking lot and a new rubber roof in 2021. The monthly condo fees of $2,837 are paid to the Condo Association which covers property expenses and maintenance alleviating management responsibilities. The offering includes long-term retail tenants, some of which have been in the center for over 10 years, including the Barkery, which has been a tenant for over 12 years. The property is well located on Main Street, which is a dense retail corridor, off I-495, and features national credit tenants such as Walmart, Home Depot, IHOP, Marshalls, 99 Restaurant, and many regional tenants such as Hannaford Supermarket. The Tewksbury market is within 30 minutes of Boston and minutes to Lowell, the neighboring town. This is a unique opportunity to acquire a stabilized asset with strong real estate fundamentals, few landlord responsibilities, and long-term tenants while realizing a higher return.

Investment Highlights

  • Multitenant Retail Condo | Limited Landlord Responsibilities | Professionally Managed by OSJ
  • New Roof and Parking Lot in 2021
  • Fully Stabilized | 100% Occupied | Long Term Tenants
  • Located on Heavy Trafficked Major Retail Corridor | Neighboring National Credit Tenants
  • Shopping Center is Anchored by Ocean State Job Lot (not part of offering)
  • Conveniently Located Near I-495 | Highly Visible | Easy Access from Main St

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Regional Manager

    (617) 896-7220

    License(s) MA: 1000485

    Massachusetts

Financing By

Shopping Strip

Dollar Valley Shopping Center

Listing Price: $3,100,000

Cap Rate
6.94%
Gross SF
17,005
Rentable SF
17,005
Price/Gross SF
$182.30
Lot Size
14.00 acres
Year Built
1982

Investment Highlights

  • Multitenant Retail Condo | Limited Landlord Responsibilities | Professionally Managed by OSJ
  • New Roof and Parking Lot in 2021
  • Fully Stabilized | 100% Occupied | Long Term Tenants
  • Located on Heavy Trafficked Major Retail Corridor | Neighboring National Credit Tenants
  • Shopping Center is Anchored by Ocean State Job Lot (not part of offering)
  • Conveniently Located Near I-495 | Highly Visible | Easy Access from Main St

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of a 6-unit retail condo in the Dollar Valley Shopping Center, a 93,298 Square foot multi-tenant retail condo center located in affluent Tewksbury, MA market with a median household income of over $100,000 within a 1-mile radius. The offering is for a 6-unit retail condo (17.005 S.F.), which is part of the shopping center anchored by Ocean State Job Lot. The property has been very well maintained with substantial recent capital improvements, including a new parking lot and a new rubber roof in 2021. The monthly condo fees of $2,837 are paid to the Condo Association which covers property expenses and maintenance alleviating management responsibilities. The offering includes long-term retail tenants, some of which have been in the center for over 10 years, including the Barkery, which has been a tenant for over 12 years. The property is well located on Main Street, which is a dense retail corridor, off I-495, and features national credit tenants such as Walmart, Home Depot, IHOP, Marshalls, 99 Restaurant, and many regional tenants such as Hannaford Supermarket. The Tewksbury market is within 30 minutes of Boston and minutes to Lowell, the neighboring town. This is a unique opportunity to acquire a stabilized asset with strong real estate fundamentals, few landlord responsibilities, and long-term tenants while realizing a higher return.

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Regional Manager

    (617) 896-7220

    License(s): MA: 1000485

    Massachusetts

Financing By

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