Real estate investor Robert Nuchereno has acquired another Amherst property, putting down $1.325 million to acquire a half-empty retail shopping center on Sheridan Drive.
Nuchereno, through Sheridan Amherst LLC, bought the 20,318-square-foot strip center at 3311 Sheridan, near Sweet Home Road, with three tenants and two large vacancies, from Carrubba & Carr Inc. The property is currently home to Markheim Tropical Fish & Pet Store, Spice Bazaar and Miss Hot Cafe, an Asian restaurant. But it also has two vacancies at either end, one for 7,500 square feet and one for 3,400 square feet.
“It’s been on the market for a while,” said David Schiller of Pyramid Brokerage Co., who handled the transaction for the seller with his son, Ben Schiller, also at Pyramid. The property had received four other offers. “We had a call a week on it, at least. It’s a great redevelopment corner.”
The 1.5-acre property is across the busy thoroughfare from the new Walmart store and just down the street from Northtown Plaza, where a Boston-area developer is constructing the region’s first Whole Foods store and hoping to redevelop the entire shopping center. Nuchereno, whose Arista Development also owns some other nearby property, said he plans a “fix-up” for the property, which had been marketed for sale at $1.6 million for a year.