Marblehead, MA 01945 261 Washington Street # 1
$999,000
6 more
Presented By: Lynne Breed with Sagan Harborside Sotheby's International Realty.
Home Details
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.
Presented By: Lynne Breed with Sagan Harborside Sotheby's International Realty.
Interior Features for 261 Washington Street # 1
Bathrooms
Total Baths3
General for 261 Washington Street # 1
Association AmenitiesParking
Association Fee IncludesInsurance, Maintenance Structure, Road Maintenance, Maintenance Grounds, Snow Removal, Trash
Building Area UnitsSquare Feet
Business TypeCommercial Condo
CityMarblehead
CountyEssex
Directions114 East to Lafayette St. to Pleasant St. to Washington St.-just before Atlantic Avenue intersection
DisclosuresPlease drive by first. DO NOT CONTACT TENANT. Showings only when restaurant is not open.
Gross Income46800
Home Owner AssocYes
Home Warranty Y/NNo
Lot Size Square Feet5967
Lot Size UnitsAcres
Property TypeCommercial Sale
Senior Community Y/NNo
Standard StatusActive
StatusActive
Tax Annual Amount5255.93
Tax Lot1
Tax Year2024
Unit Number#1
UtilitiesPublic Water, Public Sewer, Natural Gas Available
Waterfront Y/NNo
Year Built1900
ZoningBR
Zoning DescriptionLegal Conforming
Exterior for 261 Washington Street # 1
Building Area Total1048
Frontage Length66.00
Lot Size Acres0.13
Lot Size Area0.13
Total Parking10