Tri Town Commercial Advisors is pleased to present a single-tenant, net-leased cannabis dispensary in the highly sought-after market of Martha’s Vineyard, located in the bustling State Road commercial district, anchored by Cronig’s grocery store. This flagship location features a thriving dispensary tenant who signed a 10-year lease in 2021, with 2.5% annual rent escalations throughout the primary term and option periods, providing steady income growth.The property boasts a prime location in one of New England’s most iconic coastal destinations, drawing in a diverse customer base of both locals and tourists. It’s also within walking distance from the ferry terminal and is situated outside of the flood plain, further enhancing its desirability.The Town of Tisbury is currently installing a sewer line along this stretch of State Road and is in the process of re-writing its zoning by-laws, creating more options for future redevelopment of this property.
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Last Updated: November 13th, 2024 at 6:33am
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General Information for 15 Mechanics St, Tisbury, Massachusetts 02575
Property TypeCommercial Sale
Price$729,000
MLS #73302006
List Date2024-10-14
Special Listing ConditionsNo
StateMassachusetts
Street NameMechanics St
Unit
CityTisbury
Zip Code02575
CountyDukes
MLS Status
AssociationNo
Heat Zones
Sold Date
Building Area Total
Building Area Units0
Close Date
Close Price$0
Listing Service
UnparsedAddress15 Mechanics St, Tisbury MA 02575
Zoning
Zoning DescriptionLegal Conforming
Business TypeCommercial
Interior Features for 15 Mechanics St, Tisbury, Massachusetts 02575
* Approx. Living Area Total0 sq ft
MLS Area (Major)
OffMarketDate
Exterior Features for 15 Mechanics St, Tisbury, Massachusetts 02575
* Parking Spaces10
* Year Built1989
Year Built Details
Year Built Source
Construction MaterialsNo
Approx. Street Frontage
Utilities
Disclosures for 15 Mechanics St, Tisbury, Massachusetts 02575
Buyer Agent Compensation2
Contingency
FinancingNo
Disclosures
Documents AvailableNo
MLSPIN_COMP_BASED_ON
MLSPIN_COOP_COMP
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Lead PaintUnknown
Facilitator Compensation
TransactionBrokerCompensationType
BuyerAgencyCompensationType%
Financial Information for 15 Mechanics St, Tisbury, Massachusetts 02575
Association Fee$0
Association Fee Frequency
Associaton Fee IncludesNo
AssociationNo
Assessed Value
Real Estate Tax$0
Tax Year
Existing Lease TypeNet
OriginalListPrice$795,000
Lifestyle Information for 15 Mechanics St, Tisbury, Massachusetts 02575
Association AmenitiesNo
Frontage Type
GarageYNNo
Location information for 15 Mechanics St, Tisbury, Massachusetts 02575
Marketing History for 15 Mechanics St, Tisbury, Massachusetts 02575
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Agent Information for 15 Mechanics St, Tisbury, Massachusetts 02575