Sold!
$2,700,000
7,360
Living Area
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Property Description
The retail strip consists of 7 fully leased stores with a diverse mix of tenants, including a Greek Bakery, Tattoo Shop, Nail/Pedicure Salon, Driving School, Chinese Fast-Food Restaurant, Barbershop, and Physical Therapy Establishment. Convenient location on Lake Street, cornering Lowell Street, attracting customers from surrounding areas like West Peabody, Lynnfield, and Reading and more. Well-maintained property with ample parking and convenient access for deliveries. Fully leased properties ensure immediate income generation for investors, providing stability and cash flow. With the adjacent residential property also fully leased, investors benefit from diversified income streams. Given the prime location and zoning designation, there may be opportunities for future development or renovation to increase the value of the properties further. This property could be sold with MLS # 732114637 which is priced at $799,900.
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Highlights
- Acres: 1
- Property Class: Commercial Sale
- Status: Closed
- Parking Spots: 45
- Year Built: 1960
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Additional Details
- Zoning: Bn
- Zoning Description: Legal Non-Conforming
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Fees / Taxes
- Buyer Agent Compensation: .5%
- Tax Year: 2024
- Facilitator Compensation: .5%
- Taxes: $25,283
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Listing information provided courtesy of Pasciuto and Associates.
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