7 Unit Downtown Dover mixed-use building w/great income!

Retail-Commercial for Sale
Catylist Listing ID: 30676927
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 7,698 SF
Gross Building Area: See Agent
Sale Price: $1,750,000
Unit Price: $227.33 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.6%
Last Updated: 1/2/2022

Overview / Comments

Fully Leased-Downtown Dover-Prime Investment Opportunity-Great Cap Rate- over 6.0%, A+ Location-Off Street Parking-Residential/Commercial Mix with great development opportunity also available!
Calling all Investors!! This is a rare opportunity to own a downtown Dover, well established and stable mixed use property. 511 Central Ave is a 7 unit building comprised of 5 apartments and 2 retail/business units. Both retail spaces are street level and capitalize on foot traffic and visibility. The majority of tenants, including retail tenants are established and long-standing making this property a stable property that cash flows. This property also features its own ample off-street parking lot with easy ingress/egress. The features and location of this property make it a solid investment with further development potential down the road all while generating revenue. There is additional property to the rear that can be purchased for development or expansion. * Financials will be shared with NDA in place. ** NOTE: Showings require 48 hour notice minimum and only accommodated Mondays and Tuesdays.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Strafford
Tax ID/APN: 04020-00000
Zoning: CBD
Property Located Between: Broadway and Pierce
Site Description: Level, open, high traffic count, foot traffic, high visibility for retail units on ground level, off street parking, store front, signage, easy enter/exit
Total Number of Buildings: 1
Property Condition: Good
Year Built: 1920
Parking Type: Surface
Parking Description: Off Street
Heat Type: Electricity
Lot Frontage: 230 feet approx
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,252 30,537 68,509
Median Age: 33.21 36.53 35.52
Households: 4,746 12,983 25,622

Contact

Photograph of Listing Agent

Arthur J Pappas

Keller Williams Coastal Realty
NECPE Member
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