Lakeville, MA Commercial Real Estate for Sale and Lease

Located in Plymouth County, Massachusetts, this town of 10,602 features ample opportunities for commercial investors. Nicknamed “The Promised Land,” the town has 29.6 square miles of land and 6.6 square miles of water, and is open to development possibilities that feature the natural splendor of the area while offering urban amenities. Located only 40 miles south of Boston, this town, which was incorporated in 1853, is primed for a burst of growth.

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Unsurprisingly, the main green space in the area is taken up by ponds and swamps, including the Cedar Swamp and the Casual Swamp. The Massachusetts Audubon Society operates the Cedar Swamp Wildlife Management Area. For additional recreational activities, the area also has a number of parks and country clubs.

The town is highly accessible to vehicular traffic. Route 44, Route 18, Route 105, and Route 79 pass directly through the town, as does the four lane Massachusetts Route 140. The MBTA Commuter Rail Middleborough-Lakeville Line terminus is located in the city, making it relatively easy to commute between major metropolitan areas.

Several parcels of land have recently come up for sale, including the property at 56 Main Street, which is located directly off Route 105. Zoned for commercial uses, the 1.79 acre property has been considered for a proposed 21,560 square foot retail development, although this has not been mandated. An adjacent lot is also for sale, and there is an option to buy the two jointly. This joint purchase would increase the total acreage to 4.13. The 1.79 acre lot on its own has been listed for sale at $295,000. The 2.34 acre lot has been listed for sale at $550,000.

Another parcel of commercially zoned land is available at 12 Harding Street. This 0.41 acre lot has a suggested development of 2,900 square feet with an optional drive-through, although this plan has not been mandated. Located off Route 44, which connects directly to Interstate 495, the property’s sale price has not been publicly disclosed.

The land at 23 Riverside Drive, which is also within easy driving distance of Interstate 495, has also come up for sale. With 2.05 acres, the commercially zoned office park is open for redevelopment. There are also the nearby lots at 60 Riverside Drive, which has 1.75 acres; 19 Riverside Drive, which has 2.52 acres; and 17 Riverside Drive, which has 2.89 acres. None of these properties have publicly disclosed their sale list prices.

Perhaps the best opportunity for enthusiastic investors is the parcel at Main Street, which has a total size of 66.89 acres. This massive parcel is located at the intersection of Route 105 and Route 79, and has the potential to redefine the town and area at large. It has a mixed-use potential, with zoning for office, medical, 55 or more housing units, and retail included. The sale price for this lot is $7,000,000.

Office Space Market

The office space market in this town combines the elegance of lakefront property with the convenience of a small bustling municipality. An internationally known beverage manufacturer has made this town the location of its research and development headquarters, and is currently listing its property for sale. The 162,620 square foot facility has three stories and was built in 1987. It has a U-shaped layout, with a driveway allowing for easy pick-up and drop-off. It is sited next to a pond, creating gorgeous scenic views throughout the year, and is easily accessible by Route 44. Located at 1 Ocean Spray Drive, the sale price for this property is $62,386,175.

For those investors seeking to lease office space, the property at 11 Riverside Drive offers a host of specially tailored office suites in a prime location. With a total footprint of 13,000 square feet, this office park building features a brick veneer, a large conference room, and a full kitchen. It is also located within half a mile of the MBTA Commuter Rail station, making it perfect for city commuters who wish to work in a gorgeous environment. Built in 1999, the office spaces are best suited for medical, law, consulting, and financial purposes. The estimated rent for this property is $1.25 a square foot per month.

For those seeking smaller suites on a major transportation route, the property at 12 Harding Street offers 20,000 square feet along Route 44. The available suites to lease range in size from 900 square feet to 2,500 square feet, and are located adjacent to a parking lot. The estimated rent for this property is $1.17 to $1.33 per square foot per month.

The property at 30 Riverside Drive offers several modern, fresh office spaces. Built in 2008, the 31,648 square foot property is located in the heart of downtown, and features a warm brick veneer, a tiled lobby floor, and ample parking onsite. It is located within 0.7 miles of the MBTA Commuter Line, and has numerous sized spaces for lease. The estimated rent for this property has not been released.

Retail Space Market

This area has a number of general and speciality retail options for investors to consider.

The property at 290 Bedford Street has been designed for a variety of different uses, including retail such as a bank, and also speciality purposes, including operation as a funeral home. The specific function depends very much on the individual unit leased. The 15,000 square foot space was built in 2004, and is located only three miles from Interstate 495. The tan siding and gabled roofs look out onto a parking lot and landscaped lawns. The estimated rent for this space is $1.00 a square foot per month.

Meanwhile, the 3,320 gross leasable square feet at 2 Bedford Street would be ideal for a restaurateur or other creatively-minded entrepreneur. The red A-Frame structure is sited at the rear of an enormous private parking lot, and features a Googie-style architecture that befits its construction in 1965. The interior is beautifully lit by tall rectangular windows on the side, and includes space for storage and a small office. A pylon sign is provided for business signage. The sale price for this property is $495,000.

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