11 Lexington Avenue, MagnoliaGloucester, MA 01930MLS Number 72310721

  • Price: $839,000
  • 40 Days on Market
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Federal 30-year interest rate: 3.94% last updated on Dec 21, 2017
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 0.23Acreage
  • 1900Year Built
  • 6445Square Feet

Driving Directions

Terrific Opportunity to become part of the Renaissance of Magnolia Village located on the Manchester by-the-Sea town line. In the southwestern part of the City of Gloucester. This seven unit 6,445sf neighborhood retail/commercial building is a prime ownership/development opportunity. Potential to renew Special Permit allowing two residential units to be built above. Ask about the facade sketch, floor plan + thumbnail pro-forma ... Refer to attachments for complete NOI, rents, unit square footage, lease term details, and unit summaries This fully occupied building has active regional businesses so there could be some limited access for first showings. Showings are best in early mornings or evenings.

Listed by George Kauss of Coldwell Banker Residential Brokerage - Gloucester

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More Info

Basic Information

  • List Price$839,000
  • StatusACT
  • Year Built SourcePublic Record
  • Year Built1900
  • LeaseNo
  • Date Listed04/18/2018
  • DirectionNorman to Lexington
  • MLS Number72310721
  • Status Date2018-04-18T11:58:00

Property

  • Acreage0.23
  • Net Operating Inc58075
  • Parking Spaces4
  • Space AvailableFor Sale
  • Site ConditionLevel, Slope
  • SubletNo
  • Gross Annual Exp18473
  • Frontage100
  • Gross Annual Income76548
  • Handicap AccessYes
  • Condo AssociationNo
  • Lot Size10000
  • Lot51
  • Assessed Value Land259000
  • Main LoK95001
  • Square Feet6445

Location

  • Street No11-15
  • Building Number11
  • StreetLexington Avenue
  • Zip01930
  • Zip Code 43915
  • StateMA
  • CountyEssex
  • NeighborhoodMagnolia
  • LocationDowntown, Free Standing, Public Transportation
  • TownGloucester

Interior

  • Ceiling Height9

Exterior

  • Railroad SidingNo
  • ConstructionFrame, Stucco
  • Roof MaterialRubber

Utilities

  • UtilitiesPublic Water, Private Sewer

Auction

  • Special FinancingNo

Photos

  • Photo Date2018-04-18T11:58:00
  • Number of Photos17

Building

  • No Units7
  • No Buildings1
  • No Of Restrooms6
  • No Stories2
  • Parking Feature1-10 Spaces, Open, Paved Driveway
  • SprinklersNo
  • Total Units7
  • Total Bldg Sf6445
  • Wau Units1
  • Sub DividableUnknown
  • Entry OnlyNo
  • ElevatorNo
  • Assessed Value Bldg367100
  • DividableUnknown
  • Undrgrnd TankUnknown
  • Reu Units5

Other

  • Modification Date2018-05-01T13:00:00
  • Certificate Number61300221
  • Property TypeCommercial
  • Listing AlertNo
  • DisclosureYes
  • DisclosuresThere is a 6.9 cap rate ... expenses include RE taxes, insurance, maintenance, utilities, water, septic, vacancy/collection loss @ 5%. The hot water heater for unit 5 is rented and paid for by tenant.
  • Book35760
  • Listing AgreementExclusive Right to Sell
  • Waf Bldg Sf494
  • Off Bldg Sf734
  • Prop TypeCI
  • Ref Bldg Sf5217
  • Exclusionsnone
  • Plat PlanNo
  • ExchangeNo
  • Firm Rmk1Refer to attachments for complete property details, All units pay their own utilities except #6 + #7 who split proportionally the oil bill. Landlord pays electric for instant hot water heater for all units except #5 who rents a hot water tank at her expen
  • Parcel NumberM:0168 B:0051 L:0000
  • Page508
CENTURY 21 Advance Realty
Office: 781-395-2121
284 Salem Street
Medford, MA 02115

The property listing data and information, or the Images, 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, and the Images, 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, or as to the accuracy of any of the Images, set forth herein.

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