Greater Boston Commercial Properties named agent for fully-leased retail investment at $2.35m

Worcester, MA Greater Boston Commercial Properties, Inc. has been named exclusive agent for the sale of 574 Southbridge St., a 14,958 s/f single-tenant retail building offered at $2.35 million.

The property is fully-leased to Better Home Furniture & Mattress, which operates showrooms in Worcester and Natick, Mass. and Deerfield Beach, Fla. The offering is represented by James Keefe and Nishan Papazian of Greater Boston Commercial Properties, Inc. 

The tenant signed a ten-year triple-net lease commencing August 2024, leaving eight years of remaining term with fixed 3% annual rent increases. Current net operating income is $180,000, a 7.66% capitalization rate, rising to 9.42% in the final lease year.

Built in 1960 and renovated in 2024, the building sits on a signalized corner at Southbridge and Washburn Streets, a short distance from the former Rotmans furniture site at 725 Southbridge St., which the College of the Holy Cross and Madison Properties acquired for a master-planned redevelopment of more than 14 acres and 300,000 s/f.