This Property is No Longer Available
261 Washington Street, Marblehead, MA 01945
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$999,000
Type: Commercial Condo
Lease Type N/A
1048 Bldg. SQFT
3 Restroom
Parking: N/A

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.

Property Details tap to expand

Property Information

  • Type: Commercial Condo
  • Location: Legal Conforming
  • MLS ID#: 73204337

Financial

  • Gross Annual Income: 46800

Building Information

  • Total SQFT: 1048
  • Total Restrooms: 3

Construction & Utilities

  • Utilities: Natural Gas, Public Sewer, Public Water

Property History tap to expand

Date Event Price Price/Sq Ft Source
01/03/2025Canceled$949,000$906MLSPIN
10/11/2024Active$949,000$906MLSPIN
10/07/2024Price Change$949,000$906MLSPIN
08/18/2024Active$999,000$953MLSPIN
07/08/2024New$999,000$953MLSPIN
05/18/2024Expired$999,000$953MLSPIN
05/18/2024Expired$999,000$953MLSPIN
05/03/2024Active$999,000$953MLSPIN
04/29/2024New$999,000$953MLSPIN
02/25/2024Active$999,000$953MLSPIN
02/21/2024New$999,000$953MLSPIN

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Seller's Representative: Lynne Breed, Sagan Harborside Sotheby's International Realty
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2.0%
Facilitator Compensation: 1.5%
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-05-18 03:05:00

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