218 Newburyport Turnpike, Peabody MA

Retail-Commercial for Sale
Catylist Listing ID: 30417477
Property Subtypes: Free-Standing Building, Retail-Pad
Building Size (RSF): 5,803 SF
Gross Building Area: See Agent
Gross Land Area: 25,047 SF
Sale Price: $2,200,000
Unit Price: $379.11 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/16/2019

Overview / Comments

218 Newbury Street in Peabody is located on Route 1 southbound toward Boston, near the Route 114 / Lowell St interchanges. The property is accessible by two curb cuts and features 32 parking spaces on-site & 2-way marquee signage on the highway. Currently an automobile repair facility, but the current zoning lends itself to a myriad of uses. With 200 +/- feet of frontage and 23,900 vehicles per day, this parcel is prime for retail re-development.

The building is about 5,000 +/- SF in size and has a 14-15 foot interior clear height with private office space and bathrooms. There are three drive-in bays - two accessible from the front, 10x20 & 12x20 in size and one 7x7 size door accessible from the side.

The lot is 25,000 +/- SF in size, improved with a 117x43 +/- SF existing footprint. Thirty two (32) parking spaces on-site. Plenty of room around the building for a bank or restaurant drive-thru. Great visibility in a high traffic area.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $1 (Annual)

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Essex
Tax ID/APN: PEAB-000035-000000-000022
Zoning: BR1
Feet of Frontage: 200
Traffic/Vehicle Count: 23,900
Highway Access: Route 1, Southbound
Lot Frontage: 200

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,257 74,115 219,271
Median Age: 53.36 45.19 42.12
Households: 6,182 30,048 86,884

Contact

Photograph of Listing Agent

Brian DApice

The Mega Group - Commercial Real Estate
NECPE Member
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