Listed by Matthews
$694,787
1429 S Main St | Mixed Use | Owner User
Details
Property Type Mixed Use, Multifamily
Sub Type Storefront, Bank
Square Footage 4,000
Net Rentable (SqFt) 4,000
Cap Rate 8.25%
Occupancy 50%
Tenancy Multi
Lease Type Gross
Price per SqFt $174
Class B
Year Built 1915
Year Renovated 2023
Buildings 1
Stories 2
Zoning B-L
Investment Type Owner/User
Ground Lease No
Ownership Fee Simple
Sale Condition Distressed
4% CO-BROKE Available | Recent Capital Improvements | Two 2-Bedroom Residential Units
Investment highlights
- Downstairs Unit Available Immediately
- Recent Capital Improvements: New roof installation and comprehensive renovation of one apartment unit, reducing near-term capital expenditure and enhancing overall asset condition.
- Two 2-Bedroom Residential Units: Well-configured apartment layouts providing stable rental income potential and diversified tenant demand.
- Supplemental Billboard Income: Additional revenue stream generated from on-site billboard, enhancing overall cash flow and return profile.
- Multiple Income Streams: Combination of residential tenancy and ancillary billboard revenue supports diversified and resilient income generation.
- Business-Local (B-L) Zoning: Favorable zoning designation allowing for a range of commercial uses, providing operational flexibility and long-term redevelopment potential.
- High-Traffic Location (±14,800 VPD): Strong daily traffic counts along Route 138 (South Main Street), supporting visibility and tenant exposure.
- Prime Retail Corridor Positioning: Located within an established and active retail corridor, directly adjacent to a Dunkin’/Subway strip center, driving consistent consumer traffic.
- Prominent Multi-Street Intersection: Situated at a five-point intersection, offering exceptional frontage, accessibility, and exposure from multiple ingress and egress points.
- Municipal Utilities in Place: Serviced by public water, public sewer, and natural gas, supporting operational efficiency and future scalability.
Listing Contacts
Listed by Matthews
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Zoning
B-L CommercialGeneral CommercialLocal Business
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