365 Main Street Listing Details & Market Data

.NAI Glickman Kovago & Jacobs is pleased to present 365 Main St, Sturbridge. This property poses a unique opportunity to purchase a brand-new retail development and mixed-use residential site. Which allows for a stabilization in cash flow that is not found in many other sites in the area. This site also offers the rare opportunity to buy a retail center that is tenanted by a Cannabis Dispensary. The retail portion is anchored by a two-unit 4,992 sf building that was constructed in 2020. The two units are occupied by Local Roots, a 2500 sq ft Recreational Cannabis dispensary and VE Foods, a 2400 sq ft deli and food market. Both tenants are on long-term triple net leases with extensions and are still in the early stages of their initial terms providing stable in place cash flow for investors. The rear of the property contains a 9-unit Manufactured Housing Community. Each of the 9 units are on monthly land leases, 8/9 trailers are tenant owned. The lot rent currently sits at $315/month leaving room for increases. With the need for affordable housing reaching higher levels year after year a new owner can expect an influx of demand for lot space if future vacancies were to occur.