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261 Washington Street Marblehead. MA 01945

$949,000

Commercial Sale

0 Bedrooms

0 Bathrooms

1,048 sq ft

10 Parking Spots

Built in 1900

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 exclusive 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.

This listing has been viewed 17 times in the past 49 days

Last Updated: October 12th, 2024 at 4:43am

General Information for 261 Washington Street, Marblehead, Massachusetts 01945

Property TypeCommercial Sale

Price$949,000

MLS #73261358

List Date2024-07-08

Special Listing ConditionsNo

StateMassachusetts

Street NameWashington Street

Unit

CityMarblehead

Zip Code01945

CountyEssex

MLS Status

AssociationYes

Heat Zones

Sold Date

Building Area Total1048

Building Area Units0

Close Date

Close Price$0

Listing Service

UnparsedAddress261 Washington Street # 1, Marblehead MA 01945

Zoning

Zoning DescriptionLegal Conforming

Business TypeCommercial Condo

Interior Features for 261 Washington Street, Marblehead, Massachusetts 01945

* Approx. Living Area Total1,048 sq ft

MLS Area (Major)

OffMarketDate

Exterior Features for 261 Washington Street, Marblehead, Massachusetts 01945

* Parking Spaces10

* Year Built1900

Year Built Details

Year Built Source

Construction MaterialsNo

Approx. Street Frontage66.00

Utilities

Disclosures for 261 Washington Street, Marblehead, Massachusetts 01945

Buyer Agent Compensation

Contingency

FinancingNo

Disclosures

Documents AvailableNo

MLSPIN_COMP_BASED_ON

MLSPIN_COOP_COMP

MLSPIN_DISCLOSURE

Lead PaintUnknown

Facilitator Compensation

TransactionBrokerCompensationType

BuyerAgencyCompensationType

Financial Information for 261 Washington Street, Marblehead, Massachusetts 01945

Association Fee$0

Association Fee Frequency

Associaton Fee IncludesInsurance, Maintenance Grounds, Maintenance Structure, Road Maintenance, Snow Removal, Trash

AssociationYes

Assessed Value

Real Estate Tax$0

Tax Year

Existing Lease Type

OriginalListPrice$999,000

Lifestyle Information for 261 Washington Street, Marblehead, Massachusetts 01945

Association AmenitiesParking

Frontage Type

GarageYNNo

Location information for 261 Washington Street, Marblehead, Massachusetts 01945

Marketing History for 261 Washington Street, Marblehead, Massachusetts 01945

MLSPIN_MARKET_TIME_BROKER

MLSPIN_MARKET_TIME_PROPERTY

PurchaseContractDate

Agent Information for 261 Washington Street, Marblehead, Massachusetts 01945

Agent MLS IDC0001904

Office MLS IDAN4472

Buyer Agent MLS ID

Buyer Office MLS ID

Team Members

Exclusive Listing Agent

Lynne Breed

Sagan Harborside Sotheby's International Realty

Agent Phone

(781) 608-8066

Office Phone

(781) 631-8800

Text Agent Call Agent Call Office

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)

[field_3056] => Array
        (
            [field_id] => 3056
            [type] => price
            [name] => ClosePrice
            [raw] => 0
            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[field_3069] => Array
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            [type] => price
            [name] => LIST_PRICE_PER_SQFT
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            [unit_id] => 260
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[field_3075] => Array
        (
            [field_id] => 3075
            [type] => datetime
            [name] => ModificationTimestamp
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        )

[field_3094] => Array
        (
            [field_id] => 3094
            [type] => price
            [name] => SOLD_PRICE_PER_SQFT
            [raw] => 0
            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[field_3095] => Array
        (
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            [type] => number
            [name] => STREET_NUM
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        )

[f_3102] => Array
        (
            [field_id] => 3102
            [type] => feature
            [name] => Waterfront
            [values] => Array
                (
                    [0] => No
                )

)

[field_3118] => Array
        (
            [field_id] => 3118
            [type] => price
            [name] => NOI
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            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[f_3125] => Array
        (
            [field_id] => 3125
            [type] => feature
            [name] => ROAD_TYPE
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                (
                    [0] => No
                )

)

[field_3164] => Array
        (
            [field_id] => 3164
            [type] => boolean
            [name] => AvailableNow
            [value] => No
        )

[f_3166] => Array
        (
            [field_id] => 3166
            [type] => feature
            [name] => RENT_FEE_INCLUDES
            [values] => Array
                (
                    [0] => No
                )

)

[field_3168] => Array
        (
            [field_id] => 3168
            [type] => price
            [name] => SEC_DEPOSIT
            [raw] => 0
            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[field_3171] => Array
        (
            [field_id] => 3171
            [type] => text
            [name] => Office Phone
            [value] => 781-631-8800
        )

[field_3172] => Array
        (
            [field_id] => 3172
            [type] => text
            [name] => Agent Phone
            [value] => 781-608-8066
        )

[field_3178] => Array
        (
            [field_id] => 3178
            [type] => boolean
            [name] => AdditionalParcelsYN
            [value] => No
        )

[field_3180] => Array
        (
            [field_id] => 3180
            [type] => select
            [name] => AssociationYN
            [value] => 1
        )

[field_3183] => Array
        (
            [field_id] => 3183
            [type] => number
            [name] => BuildingAreaTotal
            [value] => 1048
        )

[field_3184] => Array
        (
            [field_id] => 3184
            [type] => select
            [name] => BuildingAreaUnits
            [value] => Square Feet
        )

[f_3188] => Array
        (
            [field_id] => 3188
            [type] => feature
            [name] => CommunityFeatures
            [values] => Array
                (
                    [0] => No
                )

)

[field_3189] => Array
        (
            [field_id] => 3189
            [type] => price
            [name] => ConcessionsAmount
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            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[f_3190] => Array
        (
            [field_id] => 3190
            [type] => feature
            [name] => ConstructionMaterials
            [values] => Array
                (
                    [0] => No
                )

)

[field_3192] => Array
        (
            [field_id] => 3192
            [type] => number
            [name] => ParkingTotal
            [value] => 10
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[f_3195] => Array
        (
            [field_id] => 3195
            [type] => feature
            [name] => CurrentFinancing
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                (
                    [0] => No
                )

)

[f_3196] => Array
        (
            [field_id] => 3196
            [type] => feature
            [name] => DocumentsAvailable
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                (
                    [0] => No
                )

)

[f_3198] => Array
        (
            [field_id] => 3198
            [type] => feature
            [name] => DoorFeatures
            [values] => Array
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                    [0] => No
                )

)

[field_3200] => Array
        (
            [field_id] => 3200
            [type] => price
            [name] => ElectricExpense
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            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[field_3205] => Array
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            [field_id] => 3205
            [type] => date
            [name] => ExpirationDate
            [value] => 01/01/1900
        )

[field_3206] => Array
        (
            [field_id] => 3206
            [type] => select
            [name] => FarmLandAreaUnits
            [value] => Square Feet
        )

[f_3207] => Array
        (
            [field_id] => 3207
            [type] => feature
            [name] => FinancialDataSource
            [values] => Array
                (
                    [0] => No
                )

)

[field_3210] => Array
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            [field_id] => 3210
            [type] => text
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        )

[field_3216] => Array
        (
            [field_id] => 3216
            [type] => price
            [name] => GrossIncome
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            [unit_id] => 260
            [value] => $46,800
            [price_only] => $46,800
        )

[field_3220] => Array
        (
            [field_id] => 3220
            [type] => price
            [name] => InsuranceExpense
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            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[field_3222] => Array
        (
            [field_id] => 3222
            [type] => text
            [name] => ListingAgreement
            [value] => Exclusive Right To Sell
        )

[field_3223] => Array
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            [field_id] => 3223
            [type] => date
            [name] => ListingContractDate
            [value] => 08/07/2024
        )

[f_3225] => Array
        (
            [field_id] => 3225
            [type] => feature
            [name] => LotFeatures
            [values] => Array
                (
                    [0] => No
                )

)

[field_3226] => Array
        (
            [field_id] => 3226
            [type] => area
            [name] => LotSizeSquareFeet
            [value] => 5,967 Sqft
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            [unit_id] => 1
        )

[field_3230] => Array
        (
            [field_id] => 3230
            [type] => price
            [name] => OperatingExpense
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            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[field_3231] => Array
        (
            [field_id] => 3231
            [type] => price
            [name] => OriginalListPrice
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            [unit_id] => 260
            [value] => $999,000
            [price_only] => $999,000
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[field_3234] => Array
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            [type] => textarea
            [name] => PrivateOfficeRemarks
            [value] => Chance to own a turn-key investment commercial pro
        )

[f_3238] => Array
        (
            [field_id] => 3238
            [type] => feature
            [name] => SpecialListingConditions
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                (
                    [0] => No
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)

[field_3240] => Array
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            [type] => text
            [name] => UnparsedAddress
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        )

[field_3241] => Array
        (
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            [type] => price
            [name] => WaterSewerExpense
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            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[field_3246] => Array
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            [type] => text
            [name] => ZoningDescription
            [value] => Legal Conforming
        )

[f_3247] => Array
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            [field_id] => 3247
            [type] => feature
            [name] => BusinessType
            [values] => Array
                (
                    [0] => Commercial Condo
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)

[field_3248] => Array
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            [field_id] => 3248
            [type] => datetime
            [name] => OriginalEntryTimestamp
            [value] => 08/07/2024 21:38:00
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[field_3265] => Array
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            [type] => price
            [name] => MLSPIN_GRE
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            [unit_id] => 260
            [value] => $0
            [price_only] => $0
        )

[field_3266] => Array
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            [type] => price
            [name] => MLSPIN_HTE
            [raw] => 0
            [unit_id] => 260
            [value] => $0
            [price_only] => $0
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[field_3281] => Array
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            [type] => price
            [name] => MLSPIN_MGF
            [raw] => 0
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            [value] => $0
            [price_only] => $0
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[field_3282] => Array
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            [type] => price
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[field_3285] => Array
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            [type] => price
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            [unit_id] => 260
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            [price_only] => $0
        )

[field_3290] => Array
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            [field_id] => 3290
            [type] => price
            [name] => MLSPIN_PRICE_PER_SQFT
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            [unit_id] => 260
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            [price_only] => $0
        )

[field_3292] => Array
        (
            [field_id] => 3292
            [type] => price
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            [value] => $0
            [price_only] => $0
        )

[field_3293] => Array
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            [type] => price
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            [price_only] => $0
        )

[field_3301] => Array
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            [field_id] => 3301
            [type] => select
            [name] => RoomMasterBathroomFeatures
            [value] => Yes
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[f_3304] => Array
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            [field_id] => 3304
            [type] => feature
            [name] => AssociationAmenities
            [values] => Array
                (
                    [0] => Parking
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)

[f_3305] => Array
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            [field_id] => 3305
            [type] => feature
            [name] => TenantPays
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                    [0] => No
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)

[field_3306] => Array
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            [value] => $0
            [price_only] => $0
        )

)

EXIT

9 More Photos

Active

261 Washington Street Marblehead. MA 01945

$949,000

General Information for 261 Washington Street, Marblehead, Massachusetts 01945

Interior Features for 261 Washington Street, Marblehead, Massachusetts 01945

Exterior Features for 261 Washington Street, Marblehead, Massachusetts 01945

Disclosures for 261 Washington Street, Marblehead, Massachusetts 01945

Financial Information for 261 Washington Street, Marblehead, Massachusetts 01945

Lifestyle Information for 261 Washington Street, Marblehead, Massachusetts 01945

Location information for 261 Washington Street, Marblehead, Massachusetts 01945

Marketing History for 261 Washington Street, Marblehead, Massachusetts 01945

Agent Information for 261 Washington Street, Marblehead, Massachusetts 01945

Exclusive Listing Agent

Lynne Breed

Sagan Harborside Sotheby's International Realty

EXIT

9 More Photos

Active

261 Washington Street Marblehead. MA 01945

$949,000

General Information for 261 Washington Street, Marblehead, Massachusetts 01945

Interior Features for 261 Washington Street, Marblehead, Massachusetts 01945

Exterior Features for 261 Washington Street, Marblehead, Massachusetts 01945

Disclosures for 261 Washington Street, Marblehead, Massachusetts 01945

Financial Information for 261 Washington Street, Marblehead, Massachusetts 01945

Lifestyle Information for 261 Washington Street, Marblehead, Massachusetts 01945

Location information for 261 Washington Street, Marblehead, Massachusetts 01945

Marketing History for 261 Washington Street, Marblehead, Massachusetts 01945

Agent Information for 261 Washington Street, Marblehead, Massachusetts 01945

Exclusive Listing Agent

Lynne Breed

Sagan Harborside Sotheby's International Realty

Neighborhood

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