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Investment Opportunity - Availability Details

80 Optical Drive, Southbridge, MA 01550

  • For Sale $4,000,000
  • Property Type Industrial - Warehouse/Distribution
  • Property Size 34,022 Sqft
  • Year Built 1900
  • Date Updated Aug 04, 2021
Kelleher & Sadowsky Associates is pleased to bring to market the investment property at 80 Optical Drive in Southbridge, MA. Situated within the Southbridge Innovation Center, this historic flex office building was once home to the American Optical Company and presently presents a unique opportunity to acquire a renovated, cash flow-producing, investment property at a 7.13% CAP. The property includes an abundant amount of parking and current ownership is completing over $1 million of improvements to the property, which will be completed by 8/1/2020. Improvements currently underway include new roof, new mechanicals, refurbished exterior, replaced 6 windows, cosmetic enhancements to the lobby, newly paved, sealed, and painted parking lot. For over 15 years, Franklin Realty Advisors Inc. has occupied the entire first floor of the building, 17,956 SF of office and warehouse space. They are the premier property management company in Central Massachusetts and serve as the on-site manager for the Southbridge Innovation Center. Franklin Realty Advisors manages more than 2 million square feet of commercial property all around central Massachusetts. They have 20 employees and have been in business for more than four decades, establishing a spectacular reputation in the central Massachusetts marketplace. The principal of the company is Charles F. Norton who also happens to be the owner of the Southbridge Innovation Center and this asset at 80 Optical Drive. The owner is looking to sell this asset to generate capital to reinvest in select undeveloped buildings in the Southbridge Innovation Center that are ripe for development. For more information, please visit www.southbridgeinnovation.com For the next 10 years, The Commonwealth of Massachusetts’s Department of Transitional Assistance will occupy 9,000 SF of office space on the second floor. The DTA provides low-income individuals and families with direct economic assistance, workplace training, and helps improve their quality of life.
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Location

  • City Southbridge, MA
  • Neighborhood Southbridge Town
  • Zip Code 01550
  • Market Worcester Springfield

Contacts

broker

Chris Naff

Kelleher & Sadowsky Associates

(508) 841-6212

Frequently Asked Questions

What year was Investment Opportunity built and finished?

Investment Opportunity was completed in 1900.

Contact Listing Broker

broker

Chris Naff

Kelleher & Sadowsky Associates

(508) 841-6212

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