Mixed-Use Trifecta: High Exposure on Rt. 1

Retail-Commercial for Sale
Catylist Listing ID: 30794095
Property Subtypes: Mixed Use, Retail-Pad
Building Size (RSF): 1,786 SF
Gross Building Area: See Agent
Sale Price: $1,200,000
Unit Price: $671.89 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/12/2022

Overview / Comments

Highly visible Rt.1 mixed-use parcel with existing NNN and gross leases. Good property circulation and ample parking for each user.

Please see the extensive list of updates done throughout the property including but not limited to;

• Aroma Joe’s:
Natural Gas, Water and Electric
2 Wall units, 18 months old. They provide heat and AC (Replaced for $13,000)
• Bakery:
Propane, Water and Electric
New Heating System - 12 months ($6,000)
New Hot Water Tank - 12 months ($1,500)
• All State:
Natural Gas, Water and Electric
New Hot Water Tank- 12 months ($1,500)
• Apartment:
Natural Gas, Water and Electric
Brand New Forced Hot Water Heating System ($12,500)

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $25,000 (Annual)
Potential Rental Income $67,700 (Annual)
Gross Operating Income $75,000 (Annual)
Net Operating Income $55,900 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Aroma Joe's
Is Renting? Yes
Tenant Business Name All State Insurance
Tenant Notes Month to month, been in place 7 years +
Tenant Business Name Gluten Free Bakery
Is Renting? Yes
Tenant Notes Month to month. Been in place 9 year +
Tenant Business Name Single Family Rental
Tenant Notes Was under one year lease, now month to month. Been in place 1 year +

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Tax ID/APN: 090-017-000
Zoning: BUSINESS
Retail Clientele: General, Business
Property Visibility: Excellent
Largest Nearby Street: Route 1
Feet of Frontage: 205
Area Description: Long-standing, established retail and general business corridor of Rt. 1. Excellent access with turning lanes and clear sightlines.
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Excellent
Year Renovated: 2018
Roof Type: Gable
Construction/Siding: Vinyl Siding
Total Parking Spaces: 15
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Wall Units
Air Conditioning: Other
Zoning Description: General Business
Lot Frontage: 205
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,812 21,990 37,472
Median Age: 45.99 46.83 46.1
Households: 2,006 9,437 15,828

Contact

Photograph of Listing Agent

Andrew Samonas

Samonas Realty NECPE Member
© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.