Prestegious Professional Building - Redevelopment Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30863716
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 11,782 SF
Gross Land Area: 0.21 Acres
Sale Price: $935,000
Unit Price: $79.36 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/27/2024

Overview / Comments

This well built, architecturally appealing, brick building is situated in the heart of Downtown Peterborough and was recently approved by the Town for a Redevelopment consisting of Mixed-Use Residential Apartments/Condominiums with Street Level Retail/Restaurant Space. The building is also ideal for professional office space and is steps away from popular restaurants, boutiques, museums, theater, art galleries, Post Office and Town Hall.

In 1987, a comprehensive renovation was completed to include an Elevator and Sprinkler, Fire Alarm and HVAC Systems.

This building dates back to 1840 and has been home to The First National Bank of Peterborough, Peterborough Savings Bank and until recently, the Law Firm of Fernald, Taft, Falby & Little.

Financials

Finance Data Year 2023
Real Estate Taxes - Annual($) $22,142 (Annual)

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 17-76
Zoning: DOWNTOWN COMMERCIAL DISTRICT
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Visibility: Excellent
Largest Nearby Street: Main Street
Feet of Frontage: 64
Area Description: Peterborough is a charming, historical town in the Monadnock Region with boutique shopping, hiking, antiques, dining and arts.
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 1840
Year Renovated: 1987
Roof Type: Mansard
Construction/Siding: Brick
Total Parking Spaces: 12
Parking Type: Surface
Parking Description: 12 On-Site parking spaces in rear lot of building. 130+ public parking spaces surrounding the property.
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Oil
Heat Source: Baseboard
Air Conditioning: Package Unit
Internet Access: Cable
Lot Frontage: 64'
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Other
Easements Description: Cross Easements with Lot 77 per Book 3945 Page 267, Book 3945 Page 272, and an Agreement per Book 3945 Page 275 to allow: 1) One Half (1/2) Interest within the Entry/Elevator Tower that connects the buildings, 2) A Right in Common to Pass and Repair over a Twenty (20) foot wide walkway, 3) Right in Common to use the North Wall (Lot 77) and South Wall (Lot 76) for Construction of said Elevator Tower and 4) All Elevator Expenses are shared 50/50 with the owner of 20 Grove Street.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,148 6,284 11,548
Median Age: 43.67 46.49 44.61
Households: 996 2,713 4,720

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