196 High Street

Retail-Commercial for Sale
Catylist Listing ID: 29975264
Property Subtypes: Restaurant
Building Size (RSF): 3,707 SF
Gross Building Area: See Agent
Gross Land Area: 1.50 Acres
Sale Price: See Agent
Property Use Type: Investment
Building Name: Ipswich Clambake
Sale Terms: Cash to Seller
Cap Rate: 10.4%
Average Occupancy Rate: 100
Last Updated: 7/10/2017

Overview / Comments

An income-producing investment opportunity centrally located along busy Route 1A in Ipswich, Massachusetts. The offering consists of a 3,707+ square foot two-story building situated on a 1.5+ acre parcel. Current tenancy includes Ipswich Clambake restaurant with eight years remaining on a ten year term. Landlord is responsible for structural repairs, capital expenses and other operating costs more specifically defined in the lease. THIS OFFERING IS FOR THE REAL ESTATE ONLY AND DOES NOT INCLUDE THE EXISTING BUSINESS.

Attachments & Media

Financials

Finance Data Year 2016
Real Estate Taxes - Annual($) $1.72 (Annual)

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Essex
Taxing Authority: Essex County
Tax ID/APN: 30A 013 0
Zoning: HB
Retail Clientele: Family, Tourist, Recreation
Property Located Between: Rosewood Drive and Lowes Lane
Property Visibility: Excellent
Largest Nearby Street: Rosewood Drive
Traffic/Vehicle Count: 16,000
Highway Access: Less than 3.5 miles to Route 1 and 6.0 miles to Route 95
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1973
Roof Type: Gable
Construction/Siding: Block, Concrete
Parking Type: Surface
Parking Description: There is available on-site parking in front and in the back of the restaurant.
Heat Type: Oil
Zoning Description: Highway Business
Lot Frontage: 75'
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,504 14,873 31,359
Median Age: 41.95 46.41 44.33
Households: 662 6,121 11,939

Contact

Photograph of Listing Agent

Michael D. Harrington, CCIM

Harrington & Reeves, LLC. NECPE Member

Source

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