Millis, MA Commercial Real Estate for Sale and Lease

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What to Expect

With its location roughly 19 miles southwest of Boston, this Norfolk County town of approximately 7,900 is home to many thriving businesses. As a result, it has a lot to offer in terms of commercial real estate, including industrial space, office space and retail space.

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Only 19 miles from downtown Boston, this town of 7,891 is spread out over 12.2 square miles of land in Norfolk County. For developers, this area requires a special finesse; an emphasis on environmental protection has precluded some areas from development, although redevelopment opportunities abound in the center of the city. Gifted investors can make some excellent property acquisitions in what is sure to become an increasingly valuable area in the coming decade.

In terms of publicly accessible green space and recreation areas, the town has several scenic wildlife areas including Bogastow Brook, the banks of the Charles River, South End Pond, the Glen Ellen Country Club, and the Great Black Swamp. The area can be easily reached by several major thoroughfares, including Route 109 and Route 115. There is no dedicated MBTA Commuter Rail line station within the city limits. Because of its emphasis on environmental protections, large tracts of undeveloped land zoned for commercial uses are rare. However, investors are encouraged to continue monitoring the area for new listings.

Office Space Market

The majority of available spaces in this area that include offices are of an industrial type. The property at 1073 Main Street is a perfect example of this typology. Located on a 75 acre parcel, this lot includes a railroad spur that connects to the CSX freight rail line, a cell tower, and two stormwater basins. The 72,000 square foot structure has 12,000 feet of dedicated office space, and has added 7 acres of pavement for 968 parking spaces. Built in 1960, the structure was renovated in 2009 and is accessible from Route 109. The white and gray exterior features numerous banks of windows along the front and sides, as well as a landscaped lawn and shrubs along the perimeter of the building. There are eight drive-in bays on the property. The estimated rent for this property has not been disclosed.

The property at 725 Main Street features 318,995 square feet of leasable space on 17.6 acres with a creative array of existing tenants. From a gymnastics academy to a curtain and bath outlet, this concrete block and steel frame construction building is open to innovative developer plans. With 24 foot ceilings, nine tailboard loading docks, and two railroad spurs that connect to the CSX rail line, this property is perfect for an investor who can remake the space. Built in 1970, the recently refurbished building has three spaces available for lease; one of 94,080 square feet, another of 12,521 square feet, and the final one of 23,016 square feet. Located off Route 109, the facility includes a large landscaped lawn on the property. The estimated rent for this facility has not been disclosed.

Retail Space Market

The relatively small size of the town means that most retail spaces are clustered in freestanding buildings that are close to downtown. However, as mentioned before, many sites are open to redevelopment. This includes the property at 1105 Main Street, which is located off Route 109, and is currently the site of two structures that were originally built in 1875. Both of the structures have been used for retail purposes, including a restaurant. The property, which has 275 feet of frontage, is currently being considered for redevelopment as a 10,000 square foot retail building with no more than five stories. This development would replace the current 5,900 square feet of available space contained within the two existing structures. With a lot size of 0.93 acres, the property is perfect for a savvy developer. The sale list price for this property is $699,000.

The property at 946 Main Street consists of two freestanding structures; a house and a garage, both of which can be converted into storefront retail space. Located in the center of town, this property has a lot size of 0.26 acres and is located off Route 109. The current total leasable area is 1,720 square feet. The two story house and garage was built in 1920, and features space for four to five offices, a reception space, kitchen, two bathrooms, hardwood floors, and a covered rear porch. The yard area can be paved and transformed into a parking lot. The property has a sale list price of $499,000.

Commercial Development News

In May of 2017, this town voted to approve the proposal for the $51.76 million dollar project to replace the 62-year old Clyde Brown Elementary School facilities with a newer, larger campus that can accommodate grades 1-5, as opposed to the current overpopulated facilities, which only serve grades 1-4. The project, which would also receive state funding, would be partly funded by the city’s taxpayers. This healthy reinvestment in the school system indicates a need for investors to develop projects in the area that serve young families.

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