1 S Main St
Natick, MA 01760

Marcus and Millichap is pleased to present this Natick Center Redevelopment Site, located at 1 South Main Street Natick, MA. The subject property is currently a 9,479 square-foot, eight-unit retail property on a 0.29 acre corner lot. The property is 100 percent occupied by a mix of established local tenants, each of which pays for its own utilities, snow removal and trash collection, along with maintaining its respective unit. However, as current ownership has long seen the redevelopment potential of the asset all tenants are at-will, allowing for the immediate execution of a new project. The subject property benefits from its irreplaceable downtown location at the intersection of South Main Street / Route 27 and West Central Street / Route 135, which provide a combined exposure to over 30,000 vehicles per day. The property is directly across the street from the Town Common, and is surrounded by other town landmarks such as Natick Town Hall and Morse Institute Library. Area retailers include Citizens Bank, Orange Theory Fitness, Dunkin Donuts, Santander Bank, and USPS along with a strong concentration of local tenants. The subject is also in close proximity to several of the areas largest employers including The Natick Army Labs - a Research & Development facility with approximately 120 active duty Military personnel and over 2,000 civilian employees, Natick Mall - one of the Greater Boston areas premier Malls with brands including Nordstrom, Macys, Burberry, Coach, Apple, Lord & Taylor and others, and Leonard Morse Hospital which features 223 beds. Natick is currently undergoing a strong gentrification and the town is getting ready to implement the first Master Plan for the community in over 40 years. The Plan aims to shape the future of Natick's downtown by preserving its historic architecture and classic New England style, while increasing the residential population and encouraging new business. Key initiatives of the plan are adjustments to zoning regulations and expanding districts to allow for new development, evaluating a redesign of the existing MBTA station, and exploring the development of one or two parking structures. Several projects are currently underway in the area, including the development of an 11 unit mixed use property immediately north of the subject and a 32 unit mixed use project immediately south. There is also a proposed 66 unit mixed use project just up the street from the subject. Modera Apartments, the towns newest apartment complex, was recently developed at the end of 2015. The 138-Unit luxury apartment complex features one bedroom apartments ranging from $2,250 to $2,585, with two bedroom renting as high as $3,900. The surrounding area shows excellent demographics, with a population over 137,000 and an Average Household Income over $143,000 within a 5 mile radius. Demographics within the immediate one mile radius are a population over 10,000 and an Average Household Income over $130,000. The offering presents investors with the rare opportunity to acquire an unparalleled development site in a growing community with strong upside potential.