Address
261 Washington Street # 1, Marblehead, MA
Price
$ 999,000
Property Attributes
- MLS#73204337
- TypeCommercial
- CountyESSEX
- CityMarblehead
- Zip01945
- StyleCommercial Condo
- Year Built1900
- Taxes$ 5255
- Price$ 999,000
- Bedrooms0
- Full Bathrooms3
- Half Bathrooms0
- Sqr Footage1048
- Lot Size5,663 SqFt
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
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.
| Price History | |
|---|---|
| 2/21/2024 | Listed $999,000 |
General Features
| Utilities | Public Water,Public Sewer,Natural Gas Available |
|---|---|
| Zoning | BR |
| Association Fee Includes | Insurance,Maintenance Structure,Road Maintenance,Maintenance Grounds,Snow Removal,Trash |
| Year Built | 1900 |
| Unit Number | #1 |
| Tax Year | 2024 |
| Gross Income | 46800 |
| Business Type | Commercial Condo |
| County | Essex |
| Property Type | Commercial Sale |
| Association Amenities | Parking |
| HOA / Comm Assn | Yes |
| Status | Active |
| Directions | 114 East to Lafayette St. to Pleasant St. to Washington St.-just before Atlantic Avenue intersection |
| City | Marblehead |
| Disclosures | Please drive by first. DO NOT CONTACT TENANT. Showings only when restaurant is not open. |
| Senior Community Y/N | No |
| Zoning Description | Legal Conforming |
| Lot Size Square Feet | 5967 |
| Waterfront Y/N | No |
| Street Name | Washington Street |
| Tax Annual Amount | 5255.93 |
| Home Warranty Y/N | No |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Tax Lot | 1 |
Interior Features
| Total Baths | 3 |
|---|
Exterior Features
| Total Parking | 10 |
|---|---|
| Lot Size Area | 0.13 |
| Building Area Total | 1048 |
| Lot Size Acres | 0.13 |
| Frontage Length | 66.00 |
| Lot Size Units | Acres |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 01945
Price
Taxes
Visits
Year Built
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