Executive Summary

 

Colliers International is pleased to present for sale 12 Pratt, a 24-unit mixed-use building located steps from the commuter rail in Mansfield, MA.  The property is 100% market rate containing an ideal mix of 1 bedroom and 2 bedroom apartments as well as stable commercial units on the ground floor. 12 Pratt was built in 2005 and features large units, parking, central air, and is within walking distance to shops and restaurants in downtown Mansfield.

Unit Mix

8 One Bedroom Units Avg Unit Size: 900 SF

8 Two Bedroom Units Avg Unit Size: 950 SF

8 Commercial Units Avg Unit Size: 867 SF

Investment Highlights

Commuter Haven

12 Pratt is within a 3-minute walk to the Mansfield Commuter Rail station, one of the most popular Commuter Rail stations throughout Greater Boston due to its ideal location relative Boston and Providence.

Access To Major Employers

Mansfield is home to some of the largest employers in Greater Boston including Medtronic, Delaware North Sport service, Hartmann, and FM Global as well as another 3.2 million square feet in the 495-submarket.

Value-Add Opportunity

12 Pratt features large 1 bedroom units (900 SF), which can easily be converted into 2 bedroom units. The 2 bedroom units currently average $1,425/month, while across the street rents are north of $2,000/month. The commercial (retail/office) space is 100% occupied by stable local and regional tenants at below-market rents.

Mansfield Demographics

23,615

Total Population

$430,700

Median Home Value

$102,090

Median HH Income

37.5

Average Age

Minutes To . . .

3 minute walk Mansfield Commuter Rail, which provides direct access to Boston (45 minute ride) and Providence (30 minute train)

40 minute drive to Boston

30 minute drive to Providence

5 minute drive to Cabot Business Park

Contact Us

Chris Sower

617 330 8141

christopher.sower@colliers.com

Bruce Lusa

617 330 8043

bruce.lusa@colliers.com

Jonathan Bryant

617 330 8081

jonathan.bryant@colliers.com

John Flaherty

617 330 8151

john.flaherty@colliers.com

Have questions about this property?

Please feel free to reach out to our team.

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