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You are here:
Home Massachusetts Marblehead Businesses for Sale

261-1 Washington Street Marblehead, MA 01945

137 Days on Boston Pads
Price Reduced $50,000
11 Photos
$949,000
Type: Restaurant w/Liquor
Org Type: N/A
1048 Bldg. SQFT
3 Restroom
261-1 Washington Street
Marblehead, MA 01945

Property Description

Wonderful opportunity for investors! $40K+ annual revenue from tenant, 6%+ cap rate. This is a commercial condo in prime downtown location with ample off-street parking. Sale is for the first floor condo-Unit 1, building only, with right to the basement. Current tenant manages successful restaurant. This unit has been owned by same owner for past 30+ years and has always been occupied by profitable and popular restauranteurs. This would be the ideal model for the next owner. This is a two unit condo association and second unit is on second floor and is a day spa separately owned. Showings only when restaurant is not open. Well managed and well maintained condo ready for you to become the new owner today.

Property Overview

Property Details click or tap to expand

Business Information

  • Special Licanses: Yes
  • Documents on File: Legal Description, Master Deed, Site Plan

Financial Information

  • Gross Annual Income: 46800
  • Tenant Expenses: Air Conditioning, Electric, Heat

Building & Lot Information

  • Restrooms: 3
  • Zoning: Legal Conforming
  • Building Construction: Brick, Frame, Subdivided
  • Utilities: Natural Gas, Public Sewer, Public Water
  • Last Updated: 10/11/24

Mortgage Calculator

View Breakdown

Map & Resources

Marblehead Veterans Middle School

Public Middle School, Grades: 7-8

0.35mi

Elbridge Gerry School

School

0.51mi

Village School

Public Elementary School, Grades: 4-6

0.56mi

Elbridge Gerry School

School

0.59mi

L.H. Coffin School

Grades: 2 - 3

0.6mi

Marblehead Community Charter Public School

Charter School, Grades: 4-8

0.63mi

Devereux - Marblehead

Special Education, Grades: PK-12

0.68mi

Devereux

Special Education, Grades: PK-5

0.71mi

Starbucks

Coffee Shop

0.2mi

Taqueria Express

Restaurant

0.21mi

The Barnacle

Seafood Restaurant

0.76mi

Central Fire Station

Fire Station

0.47mi

Marblehead Fire Department

Fire Station

0.49mi

Marblehead Fire Department

Fire Station

0.74mi

Marblehead Police Deartment

Local Police

0.3mi

Warwick Place

Cinema

0.16mi

Museum of the Grand Army of The Republic

Museum

0.49mi

Marblehead Police Museum

Museum

0.49mi

Hawthorn Pond Conservation Area

Municipal Park

0.62mi

Marblehead Neck Wildlife Sanctuary

Land Trust Park

0.78mi

Marblehead Dog Park

Dog Park

0.58mi

Memorial Park

Park

0.14mi

Washington Square

Park

0.22mi

Seaside Park

Municipal Park

0.22mi

William I Hammond Park

Municipal Park

0.25mi

Crocker Park

Municipal Park

0.36mi

Orne Playgound

Playground

0.66mi

National Grand Bank

Bank

0.18mi

Salem Five

Bank

0.22mi

Abbot Public Library

Library

0.45mi

CVS Pharmacy

Pharmacy

0.08mi

7-Eleven

Convenience

0.22mi

Shubie’s

Supermarket

0.07mi

Pleasant St opp Anderson St

441
442

0.13mi

Pleasant St @ Anderson St

441
442

0.14mi

Pleasant St opp Bessom St

441
442

0.16mi

Pleasant St @ Bessom St

441
442

0.16mi

Pleasant St @ Spring St

441
442

0.19mi

Pleasant St @ Essex St

441
442

0.21mi

Pleasant St opp Gerry St

441
442

0.3mi

Pleasant St @ Gerry St

441
442

0.3mi

Seller's Representative: Lynne Breed, Sagan Harborside Sotheby's International Realty
MLS ID#: 73261361

© 2024 MLS Property Information Network, Inc.. All rights reserved.

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2024-10-11 03:05:00