203 Newbury StreetPeabody, MA 01960MLS Number 72632033

  • Price: $360,000
  • 192 Days on Market
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Federal 30-year interest rate: 2.87% last updated on Sep 17, 2020
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203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960203 Newbury Street Peabody MA 01960
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  • 0.83Acreage
  • 1925Year Built
  • 5,400Square Feet

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Prime Route 1 North Real Estate FOR SALE (LEASE TO OWN) with 5,400 sf of existing restaurant on 36,028 sf of land. Due to the sellers personal situation, the property will be leased for three years with 50% of the base lease amount going directly to the sale of the property. This property has been the home of the well-known Sea Witch Restaurant and Fish Market, located conveniently on busy Route 1 In Peabody. Excellent visibility from north and southbound sides of Route 1 and abuts highly traveled Interstate 95. The owner is open to buyer's business use. Tenant may continue use as existing, highly profitable Seafood Restaurant and Fish Market or will allow building to be demised for a new use. Owner will offer assistance with new owner to make transition seamless of restaurant and fish market accounts. Major retailers and national food chains welcome. Zoned for Full liquor license available to new business per City of Peabody on a first come basis. Call list agent for further details.
Listed by Wayne Altavilla and Team Lillian Montalto of Lillian Montalto Signature Properties

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More Info

Parking

  • Parking Spaces50
  • Parking FeatureOpen,21+ Spaces, Paved Driveway, On Site
  • Total Parking Spaces50

Building

  • Year Built1925
  • ConstructionFrame
  • Total Units1
  • Total Bldg Sf5400
  • Reu Units1
  • No Buildings1
  • No Stories1
  • Entry OnlyNo
  • Assessed Value Bldg310000

Utilities

  • UtilitiesPublic Water, Public Sewer, Bottled Gas

Photos

  • Photo Date2020-03-11T17:28:00
  • Number of Photos22

Basic Information

  • MLS Number72632033
  • Prop TypeCI
  • Status Date2020-05-20T16:35:00
  • Date Listed03/11/2020
  • List Price$360,000
  • Price Per Square Foot$67
  • LeaseYes
  • Lease Price IncludesBuilding, Business, Land, Other (See Remarks)
  • Lease TypeGround Lease, Triple Net Lease (NNN), Other (See Remarks)
  • DirectionRoute 1 North, just passed I-95 North ramp. GPS 203 Newbury St. Peabody, MA.
  • MLS StatusActive

Location

  • StreetNewbury Street
  • TownPeabody
  • StateMA
  • Zip01960
  • Zip Code 42411
  • CountyEssex
  • LocationFree Standing, Interstate, Highway Access, Public Transportation, Central Business District

Property

  • Acreage0.83
  • Space AvailableFor Sale
  • Square Feet5,400
  • SubletNo
  • Lot Size36028
  • Condo AssociationNo
  • Assessed Value Land568000
  • Main LoG62122

Other

  • Modification Date2020-05-26T13:32:00
  • Property TypeLand
  • Listing AlertNo
  • Year Built SourcePublic Record
  • DisclosureYes
  • Disclosures“Lease to own” annual lease of $120,000 (+NNN) After year 3, buyer shall apply 50% of total gross lease amount towards the purchase price of $2mil. ($1,820,000) Seller retains income from billboard. Not included in lease or for sale. Restaurant and Fi
  • Book9549
  • Listing AgreementExclusive Right to Sell
  • Block0033-A
  • Ref Bldg Sf5400
  • ExclusionsBillboard rights not included in transaction. Business sale/land lease only.
  • ExchangeNo
  • Firm Rmk1COVID-19 Questionnaire on paperclip must be completed & sent to List Agent prior to showings. Showings MUST adhere to CDC and State Guidelines including wearing of masks and gloves. Call List Agent directly 978-375-4465 and waltavilla@andoverhomes.com.
  • Page164
  • View Count5
CENTURY 21  Advance Realty
CENTURY 21 Advance Realty
Office: 781-395-2121
284 Salem Street
Medford, MA 02155

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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