405 Pond Street
Mixed Use | 6,638 SqFt
Marketing description
Investor opportunity with strong in-place income and additional upside. 405 Pond Street is a mixed-use property featuring a 2,300 SF grocery store plus three residential apartments above. Current income includes a long-term grocery tenant paying $1,600/month, one apartment at $1,300/month, one apartment at $800/month, and a vacant top-floor apartment previously rented for $1,300/month. Recent capital improvements include a new roof and three new boilers. Tenants pay their own utilities, with the owner responsible for water/sewer. Sale also includes 403 Pond Street, providing valuable off-street parking for approximately 10 vehicles. This is a strong cash-flowing asset with value-add potential through leasing the vacant apartment and optimizing rents.
Investment highlights
- Strong in-place income with additional upside potential
- 2,300 SF grocery store with long-term tenant paying $1,600/month (lease until Jan/2028)
- Three residential apartments above retail space
- Current income: grocery tenant $1,600/month, apartment $1,300/month, apartment $800/month
- Vacant top-floor apartment previously rented for $1,300/month
- Recent capital improvements include new roof and three new boilers
- Tenants pay their own utilities (owner responsible for water/sewer only)
- Sale includes 403 Pond Street providing off-street parking for approximately 10 vehicles
- Value-add potential through leasing vacant apartment and optimizing rents
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