990-992 Great Plain Avenue, Needham, MA

Commercial Property For Sale

EXECUTIVE SUMMARY

128 CRE is pleased to offer the opportunity to purchase 990-992 Great Plain Avenue, a fully leased mixed-use building conveniently located in the heart of downtown Needham. This 18,976 SF building sits on an 8,276 SF (.19 acre) lot providing a stable income stream with value-add potential. Offering flexibility for investors or owner-users looking to occupy the retail portion of the building, as the Landlord has an option to terminate the lease in place with the restaurant tenant.

The building is currently fully leased to four tenants, consisting of one retail tenant, Masala Art Indian Restaurant, and three office tenants. Positioned in a high-visibility location, the tenants benefit from high traffic counts, direct access to the largest municipal parking lot in the Downtown, strong foot traffic, outdoor patio seating, and a convenient commutable location. The existing lease for Masala Art offers stability with a five-year term and below-market rent, providing upside potential and giving buyers the flexibility to terminate the lease with 12 months notice. In addition, the building infrastructure in place is ideal for a full-service restaurant to take over the retail space.

990-992 Great Plain Avenue is ideally situated in downtown Needham, surrounded by a vibrant mix of restaurants and retail shops. The site benefits from walkable access to public transportation including the Needham Center Commuter Rail Station, various bus routes and is adjacent to a municipal park, providing free parking for approximately 190 cars. In addition, the site is less than two miles off I-95/128, making it a desirable destination for businesses and customers alike.

This property presents the opportunity to acquire a well-performing asset in one of MetroWest Boston’s most sought-after downtown districts.