261 Washington StreetMarblehead, MA 01945MLS Number 72885463

  • Price: $615,000
  • 61 Days on Market
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Federal 30-year interest rate: 3.09% last updated on Oct 21, 2021
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261 Washington Street Marblehead MA 01945261 Washington Street Marblehead MA 01945261 Washington Street Marblehead MA 01945261 Washington Street Marblehead MA 01945261 Washington Street Marblehead MA 01945261 Washington Street Marblehead MA 01945261 Washington Street Marblehead MA 01945
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  • 0.13Acreage
  • 1900Year Built
  • 1,048Square Feet
  • 10Parking Spaces

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Wonderful opportunity for investors! $40K+ annual revenue from tenant, 6%+ cap rate. This is a commercial condo in prime downtown location with ample off-street parking. Sale is for the first floor condo-Unit 1, building only, with exclusive right to the basement. Current tenant manages successful Italian-style restaurant. This unit has been owned by same owner for past 30+ years and has always been occupied by profitable and popular restauranteurs. This would be the ideal model for the next owner.This is a two unit condo association and second unit is on second floor and is a day spa separately owned. Showings only when restaurant is not open. Well managed and well maintained condo ready for you to become the new owner today.

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Windhill Realty
Windhill Realty
Office: 978.356.8922
16 Market Street
Ipswich, MA 01938

More Info

Parking

  • Parking Spaces10
  • Parking Feature1-10 Spaces, Open, Improved Driveway, Paved Driveway, On Site, Shared
  • Total Parking Spaces10

Building

  • Year Built1900
  • ConstructionFrame
  • Total Units1
  • Total Bldg Sf1048
  • No Units1
  • No Buildings1
  • No Of Restrooms3
  • No Stories1
  • SprinklersYes
  • Entry OnlyNo
  • ElevatorNo
  • Assessed Value Bldg431100
  • Undrgrnd TankUnknown

Photos

  • Photo Date2021-08-24T09:28:00
  • Number of Photos7

Basic Information

  • MLS Number72885463
  • Prop TypeCI
  • Status Date2021-08-24T09:28:00
  • Date Listed08/24/2021
  • List Price$615,000
  • Price Per Square Foot$587
  • LeaseNo
  • Direction114 East to Lafayette St. to Pleasant St. to Washington St.-just before Atlantic Avenue intersection
  • MLS StatusActive

Exterior

  • Roof MaterialCombination

Utilities

  • UtilitiesPublic Water, Public Sewer, Natural Gas

Location

  • Unit No#1
  • StreetWashington Street
  • TownMarblehead
  • StateMA
  • Zip01945
  • CountyEssex
  • LocationDowntown, Free Standing, Central Business District

Property

  • Acreage0.13
  • Space AvailableFor Sale
  • Site ConditionDry, Level, Improved
  • Square Feet1,048
  • SubletNo
  • Lot1
  • Lot Size5967
  • Handicap AccessNo
  • Condo AssociationYes
  • Main LoAN4471

Auction

  • Special FinancingNo

Other

  • Modification Date2021-08-28T03:05:00
  • Property TypeCommercial Condo
  • Listing AlertNo
  • EasementsYes
  • Year Built SourcePublic Record
  • DisclosureNo
  • DisclosuresPlease drive by first. DO NOT CONTACT TENANT. Showings only when restaurant is not open.
  • Book12097
  • Listing AgreementExclusive Right to Sell
  • Block56
  • ExchangeNo
  • Firm Rmk1Chance to own a turn-key investment commercial property which is well maintained with income producing tenant. Showings only when restaurant is not open. Call for details: Lynne Breed 781-608-8066.
  • Page532
  • View Count2

Marblehead, MA Demographics

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Marblehead, MA Real Estate Market Data

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Marblehead, MA Schools

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The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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