82-84 Needham Street

Newton, MA

For Sale
 

Type: Suburban Office
Neighborhood: Newton Highlands
Property Details: Address: 82-84 Needham Street, Newton, MA

Access: Accessible from north and south directions on Needham Street and Columbia Avenue. Offers direct access to loading dock off Needham Street.

Parcel ID: 2711877

Lot Size: 63,416 SF (1.46 acres)

Existing Building Size: 31,160 SF

Existing Parking: 101 Spaces

Easement*: 82-84 Needham Street has a Reciprocal Easement and Operating Agreement with 88 Needham Street. This agreement outlines shared driveway access from Needham Street, reciprocal parking use, and restricted tenant uses for 88 Needham Street (the abutting property).

Frontage:  68 Feet on Needham Street, 348 Feet on Columbia Avenue

Zoning:  Mixed-Use 2 (MU2)

Site Overview: 82-84 Needham Street is located on the highly trafficked thoroughfare in the heart of the N2 Innovation District. The property was occupied by the New England Mobile Book Fair which is in the process of moving to a new location.

Brochure

 

New England Mobile Book Fair Site

EXECUTIVE SUMMARY

Boston Realty Advisors has been exclusively retained to solicit offers for the sale of 82-84 Needham Street in Newton, Massachusetts. The 63,416 square foot parcel is improved by a 31,160 square foot building conveniently positioned in the heart of the highly trafficked commercial district on Needham Street. For years this has been home to the New England Mobile Book Fair which has recently vacated the building. This unique site located on the main thoroughfare for the N2 Innovation District benefits from 40,000 vehicles passing by per day and an average household income of over $202,000 within 2 miles. 82-84 Needham Street presents investors with the opportunity to acquire an asset in an unrivaled location, strong demographics and a multitude of redevelopment scenarios including a mix of: retail, office, lab, medical, hotel and multi-family uses.

The asset is ideally located in one of the most exclusive and affluent communities in New England. Needham Street has become known for its vibrant residential and commercial expansion attracting local and national developers. This well-heeled suburb is also recognized for its expanding infrastructure and close proximity to Boston, all within the N2 Innovation District which has an abundance of both emerging innovative companies, education institutions and established employers including Trip Advisor, NBCUniversal, Shark Ninja, PTC, Harvard Vanguard Medical Associates, Boston College and Olin College.

82-84 Needham Street offers an unprecedented opportunity to invest in one of Boston’s most rapidly expanding and affluent suburbs. Boston Realty Advisors will conduct site tours over the next several weeks with a call for offers to follow.

 

INVESTMENT HIGHLIGHTS

Multiple Development Scenarios
Owning to the area’s high demand for all product types, 82-84 Needham Street provides a wide spectrum of development opportunities including retail, office, lab, medical, hotel and multi-family uses.

High Barrier to Entry Market
Offers a rare redevelopment opportunity in one of Boston’s most densely populated and supply constrained markets.

N2 Innovation District
Located in the heart of one of Boston’s most transformative submarkets attracting international companies and educational institutions such as Trip Advisor, NBCUniversal, Shark Ninja and Boston College among many others.

Affluent Demographics
Within a two mile radius, the area boasts one of the highest average incomes and disposable incomes in New England at over $202,000 and $122,000 respectably and a population of 115,000 people.

 

Location & Information

 

Type: Suburban Office
Neighborhood: Newton Highlands
Property Details: Address: 82-84 Needham Street, Newton, MA

Access: Accessible from north and south directions on Needham Street and Columbia Avenue. Offers direct access to loading dock off Needham Street.

Parcel ID: 2711877

Lot Size: 63,416 SF (1.46 acres)

Existing Building Size: 31,160 SF

Existing Parking: 101 Spaces

Easement*: 82-84 Needham Street has a Reciprocal Easement and Operating Agreement with 88 Needham Street. This agreement outlines shared driveway access from Needham Street, reciprocal parking use, and restricted tenant uses for 88 Needham Street (the abutting property).

Frontage:  68 Feet on Needham Street, 348 Feet on Columbia Avenue

Zoning:  Mixed-Use 2 (MU2)

Site Overview: 82-84 Needham Street is located on the highly trafficked thoroughfare in the heart of the N2 Innovation District. The property was occupied by the New England Mobile Book Fair which is in the process of moving to a new location.

Brochure