63 Melcher St
Boston, MA 02210 Fort Point

• Unit Size: 3,120 SF
• Condo Use: Retail
• Price: $3,011,246 USD
• Sale Type: Investment
• Price/SF: $965.14 USD

Description

The Property consists of a 3,120 square foot retail condominium, occupying a portion of the ground floor of The Muse. The unit is leased to Joint Ventures Physical Therapy, which has 8+ years remaining on their Triple Net (NNN) Lease with one (1), 5-year option. The lease provides for attractive 2% annual increases throughout the primary lease term.

Sale Notes

Horvath & Tremblay is pleased to present the exclusive sale of the condominium interest in the single tenant retail investment property located at 63 Melcher Street in Boston, Massachusetts (the “Property”). The Property consists of a 3,120 square foot retail condominium, occupying a portion of the ground floor of The Muse. The unit is leased to Joint Ventures Physical Therapy, which has 8+ years remaining on their Triple Net (NNN) Lease with one (1), 5-year option. The lease provides for attractive 2% annual increases throughout the primary lease term. The Muse is a six-story mixed-use building that was redeveloped in 2018 and features a retail unit on the ground floor (Subject Property) and 38 luxury condo units with exposed brick and original wood beam ceilings on the upper floors. The well-maintained building also offers a landscaped roof terrace with views of Boston. 63 Melcher Street is situated in an exceptional urban location in Boston’s Seaport District, with excellent access to Downtown Boston, Boston Harbor, South Station local and regional transportation, and Boston’s Logan Airport. The Property is located in the Fort Point neighborhood of the Seaport District and has frontage along Melcher, Necco and A Streets. The Property is in between Boston’s South Station and the Boston Convention and Exhibition Center and is a short walk to Summer Street and Seaport Boulevard, bounding the area’s primary commercial district, which offers an array of high-end office and residential developments, urban amenities, retailers, restaurants, and entertainment options.