55 Franklin St, Boston, MA 02110

Property Description

Generational opportunity to acquire a cash-flowing asset in the heart of downtown Boston, situated on one of the city's most coveted blocks. Spanning five stories plus a basement and boasting approximately 18,500 square feet, the building has an optimal footprint for the area and use. The property is currently 60% occupied with all long-term leases in place, allowing for an owner-occupant to occupy their office space while still cash flowing, or for an investor to build on the already robust NOI. There is clear potential to boost the NOI through the lease-up of the two vacant suites, driving the income to an unprecedented cap rate. Located just two doors down from Millennium Tower on a charming, historic block of Franklin Street, the property benefits from wider streets and excellent spacing that offer a uniquely less congested downtown feel. This asset is offered as a package with the building next door, but can be sold separately or together, with preference given to offers on both buildings. See disclosures.The site also possesed enormous upside, located in the sky zoning district, which now allows for construction of residential towers.