Carlton's Wharf & Co. Real Estate
Listed by Carlton's Wharf & Co. Real Estate
$3,900,000
59-63 Meridian St.
Details
Property Type Mixed Use, Office
Sub Type Medical Office, Storefront
Square Footage 18,609
Net Rentable (SqFt) 13,956
Units 5
Cap Rate 2.47%
NOI $96,193
Occupancy 40%
Tenancy Multi
Brand/Tenant Latino's Salon, La Abundancia Bakery & Restaurant
Lease Type NNN
Lease Term 10
Lease Expiration 01/31/2032
Remaining Term 8
Rent Bumps Yes
Pro-Forma Cap Rate 14.02%
Pro-Forma NOI $546,610
Price per SqFt $210
Broker Co-Op Yes
Year Built 1910
Buildings 1
Stories 3
Lot Size (SqFt) 4,681
Zoning Mixed-use 5
Investment Type Value Add
Lease Commencement 02/01/2022
Occupancy Date 02/01/2024
Mixed-Use, 5 unit Building For Sale in East Boston's Maverick Square Neighborhood
Marketing description
Amazing opportunity to buy/hold a large commercial/mixed-use building in your portfolio or envision the perfect re-development! This 3-story building is comprised of 14,000 sqft of rentable space, including two occupied retail storefronts and three vacant office spaces with elevator service at 82 Paris St. ready for your design and vision! Developers/Builders, take advantage of MU-5 zoning designation and renovate into apartments or condos. This building is located near the Maverick Square and Jeffries Point neighborhood of East Boston, 0.3 miles from Maverick MBTA and next to bustling waterfront with direct access to Downtown Boston via train or ferry!
Listing Contacts
Carlton's Wharf & Co. Real Estate
Listed by Carlton's Wharf & Co. Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$96,193.00
$8,016.08/mo
Valuation Metrics
0
DSCR
2.47%
Cap Rate
2.47%
ROI
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