109 Nichols Ave
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109 Nichols Ave
8,640 SF 100% Leased Retail Building Watertown, MA 02472 £1,888,818 (£219/SF) 5.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Corner unit building, two residential unit has been updated and has 3 bed 2 Full bathroom, with a separate entrance.
- Great potential to increase the cap rate, all the rentals are below market value.
- So many upgrades, please call the agent for more information.
EXECUTIVE SUMMARY
Discover a prime investment opportunity With approximately 130k of NOI. This fully-rented, 6 unit mixed-use property is situated in a highly desirable location. 2 expansive residential units and four profitable commercial spaces offer a diverse income stream. Over 2500 SQF residential units have a private entrance on the second floor. Include a spacious 3-BR, 2-BA home with an open floor plan. Modern kitchen with/ updated appliances and quality finishes throughout, in-unit laundry, central AC, and 6 parking enhance comfort and convenience. Over 3,500 square feet of well-maintained commercial space on the ground floor is currently occupied by 4 thriving businesses, including a well-stocked grocery store and a popular restaurant. The grocery store serves exceptional food and is a staple in the community. The restaurant, known for its high traffic and delicious menu, attracts a steady stream of customers. Potential for increased income on all units. Perfect 1031 exchange investment.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,640 SF
Building Class
C
Year Built
1900
Price
£1,888,818
Price Per SF
£219
Net Initial Yield
5.50%
NOI
£103,898
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.65
Lot Size
0.12 AC
Zoning
COMM - NB , Multi , Mix used , commercil
Parking
6 Spaces (0.69 Spaces per 1,000 SF Leased)
Frontage
111 ft on Dexter Avenue
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (85)
NEARBY MAJOR RETAILERS
![[solidcore]](https://images.loopnet.co.uk/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
PROPERTY TAXES
| Parcel Number | WATE-001226-000017-000061A | Improvements Assessment | £834,182 |
| Land Assessment | £160,482 | Total Assessment | £994,664 |
PROPERTY TAXES
Parcel Number
WATE-001226-000017-000061A
Land Assessment
£160,482
Improvements Assessment
£834,182
Total Assessment
£994,664
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109 Nichols Ave
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