Description
Nearly half an acre on Beacon's bustling Main Street. 17 income producing residential rental units. 5 commercial retail spaces. As of right, possibility of building a +/- 16,000 sq. ft addition in what is now the rear parking area. All rents are undermarket. Buildings need major renovation in order to raise rents to market levels. This is a long term play for a deep pocket investor who has the vision and the means to unlock this unique property's full potential. Current cap rate is 4.5%. An + 8% cap rate is achievable.
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N/AACRES
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01/2 BATHS
Description
Nearly half an acre on Beacon's bustling Main Street. 17 income producing residential rental units. 5 commercial retail spaces. As of right, possibility of building a +/- 16,000 sq. ft addition in what is now the rear parking area. All rents are undermarket. Buildings need major renovation in order to raise rents to market levels. This is a long term play for a deep pocket investor who has the vision and the means to unlock this unique property's full potential. Current cap rate is 4.5%. An + 8% cap rate is achievable.
© 2022 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Nicole Burke, MBA | Charles Rutenberg Realty. Data last updated: 2022-06-28T14:17:59.807.