Rare NNN Restaurant Retail Condo in South Boston
Rare NNN Restaurant Retail Condo in South Boston
Marketing description
Condominium Unit #4 within the Farragut House Condominium, a 4,781-square-foot mixed-use restaurant condominium located at 149 P Street in South Boston. The unit spans two levels, approximately 2,400 SF on the first floor and approximately 2,381 SF in the basement, and includes one deeded parking space (#4) with an option to purchase an exclusive easement for the space for $35,000. The unit benefits from access to common facilities necessary for restaurant operations. The Premises is subject to the Farragut Condominium Master Deed and Declaration of Trust, with the unit's pro-rata share of insurance costs currently set at 66.67% of the Trust's common insurance expense.
Investment highlights
Newmark is pleased to present the opportunity to acquire the fee simple interest in this 4,781 SF restaurant condominium unit in South Boston occupied and operated by a local restaurant operator on a triple-net basis that includes its responsibility for real estate taxes, its proportionate share of condominium insurance, utilities, and interior maintenance, providing a buyer with a low-management, passive income stream.
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