76 Summer St - Office FOR SALE


Manchester By The Sea, MA 01944
$2,197,000 USD
978-578-5013
76 Summer St, Manchester By The Sea, MA for Sale
$2,197,000 USD
Office - FOR SALE
1/44
null | 5% Cap Rate

76 Summer St
Manchester By The Sea, MA 01944


HIGHLIGHTS

  • Commercial Office Building 2/10 mile from Manchester Center and Train
  • Multiple potential uses - potential to redevelop into Luxury condo or short/long term apartments.
  • 19+ parking spaces

OVERVIEW

This is a rare offering of an office building, situated on 16,200 sf with more than 19 parking spaces, located just 2/10 of a mile from the town center and the commuter rail. The property provides many potential investment opportunities including, subject to town approval, multiple luxury condominiums, an apartment building for short or long-term rentals, or remaining as is. Architectural plans and renderings for potential luxury condominiums have been produced and are available. In its current use, the owner estimates future annual total rents of $156,000. The building’s floor plan is highly adaptable to suit various office needs, while the large unfinished lower level provides substantial space to lease for storage, shipping, or workshops. With the potential for both immediate income and redevelopment this is an outstanding opportunity for investors and developers to capitalize on a prime location in Manchester.

FOR SALE DETAILS

PRICE

$2,197,000 USD

PRICE/SF

$240 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,204 SF

ZONING

G

APN/PARCEL ID

MANC-000047-000000-000008

ASK ABOUT THIS PROPERTY

Chris BernierChurchill PropertiesMore Info
978-578-5013

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Chris BernierChurchill PropertiesMore Info
978-578-5013

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.