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261 Washington Street , #1

Marblehead, MA 01945
  • $999,000
  • STATUS: Active
  • MLS #: 73261358
UPDATED: 95 min ago
$999,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,048
    SQFT
  • $953
    $/SQFT
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Listing courtesy of Lynne Breed of Sagan Harborside Sotheby's International Realty.

Description

Wonderful opportunity for investors! $40K+ annual revenue from tenant, 6%+ cap rate. This is a commercial condo in prime downtown location with ample off-street parking. Sale is for the first floor condo-Unit 1, building only, with exclusive right to the basement. Current tenant manages successful restaurant. This unit has been owned by same owner for past 30+ years and has always been occupied by profitable and popular restauranteurs. This would be the ideal model for the next owner. This is a two unit condo association and second unit is on second floor and is a day spa separately owned. Showings only when restaurant is not open. Well managed and well maintained condo ready for you to become the new owner today.

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2024-07-24T10:05:18.01.
www.maloneypropertiesrealestate.com/homes/152401245
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261 Washington Street , #1 Marblehead, MA 01945

  • Price: $999,000
  • Status: Active
  • On Site: Days
  • Updated: 95 min ago
  • MLS #: 73261358
0
Beds
0
Baths
0
½ Baths
0.13
Acres
1,048
SQFT
$953
$/SQFT
1900
Built
County:
Essex
Property Description
Wonderful opportunity for investors! $40K+ annual revenue from tenant, 6%+ cap rate. This is a commercial condo in prime downtown location with ample off-street parking. Sale is for the first floor condo-Unit 1, building only, with exclusive right to the basement. Current tenant manages successful restaurant. This unit has been owned by same owner for past 30+ years and has always been occupied by profitable and popular restauranteurs. This would be the ideal model for the next owner. This is a two unit condo association and second unit is on second floor and is a day spa separately owned. Showings only when restaurant is not open. Well managed and well maintained condo ready for you to become the new owner today.
Exterior Features

Frontage Length 66.00 Parking Total 10 Waterfront YN No

Interior Features

Building Area Total 1048

Property Features

Association Amenities Parking Association Fee Includes InsuranceMaintenance StructureRoad MaintenanceMaintenance GroundsSnow RemovalTrash Association YN Yes Business Type Commercial Condo Buyer Agency Compensation 2.0% Disclosures Please drive by first. DO NOT CONTACT TENANT. Showings only when restaurant is not open. Gross Income 46800 Home Warranty YN No Senior Community YN No Tax Annual Amount 5255.93 Tax Year 2024 Transaction Broker Compensation 1.5% Utilities Public WaterPublic SewerNatural Gas Available Zoning BR

Listing information © 2024 MLS Property Information Network. All information is deemed reliable but should be independently verified.
Listing provided courtesy of Lynne Breed of Sagan Harborside Sotheby's International Realty: 781-631-8800.


The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2024-07-24T10:05:18.01.
 
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Maloney Properties Real Estate Brokerage
27 Mica Lane 3rd Floor
Wellesley MA, 02481
Listing courtesy of Lynne Breed of Sagan Harborside Sotheby's International Realty.