Brought to you by: Lillian LoGrasso - RE/MAX Advantage
224 Washington Street
Gloucester, MA 01930

Phone: (978) 479-2250 Fax: (978) 865-1165
Website: www.LillianLoGrasso.com
Email: lillianlograsso@remax.net
 

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101 Main Street
Rowley, MA. 01969

Essex County

Directions: 101 Main Street Is Route 1a In Rowley

MLS # 71939344 - Sold
Commercial/Industrial Commercial

List Price $1,600,000 Zoning Central
List Date   Lot Size 3.80A
Sale Price $1,400,000 Est. Street Front 0
Sold Date 3/21/17 Depth 0
Assessed Value $1,353,500 Waterfront  
Days on Market   Taxes $19,436.26
Square Footage 12,168 Tax Year 2016
# Units 26 Parking Spaces 25
Remarks:
Popular, profitable North Shore inn and spa business opportunity. Price includes the real estate, furniture, fixtures, supplies, systems and procedures used to market and operate this successful motel business. Property consists of 3.8 acres, 25 parking spaces, in-ground pool, spa and 8 buildings with office + 23 rental units + a 2,948 sf, 6 room, 3 bed & 2 bath rental single family home built in 1994 + resident manager's 3 room apartment located above the office. Grounds are professionally landscaped with an extensive irrigation system. All buildings have been updated over the past 5 years. Owners will transfer their engineering plans to add an additional 4 unit building whose sewer lines tie into building #8's septic system which was designed to accommodate this new building . Capitalization rate (return on investment) for this property is an attractive 9.9%. This Country Inn is a unique combination of lodging options in a quiet setting in the heart of Boston's North Shore.
Building Info
Office Sq. Ft.   900
Office Units   1
Retail Sq. Ft.   8110
Retail Units   23
Resi. Sq. Ft.   3158
Resi. Units   2
Total Units   26
Total Sq. Footage   0
Features
Construction   Frame
Driving Doors   0
Easements   0
Elevator   No
Expandable   Yes
Loading Docks   0
Location   Suburban
Parking   Assigned
Railroad Siding   No
Roof   Asphalt/Composition
   Shingles
Traffic Count   0
Utilities   Public Water,
   Private Water, Private
   Sewer, Natural Gas
Financial Info
Building Assessed Value  
   $873,900
Gross Annual Exp.  
   $213,276
Gross Annual Income  
   $372,000
Land Assessed Value  
   $479,600
Net Oper. Income  
   $158,788
Additional Information
21E on File   No
Association Info  
   Association Available?:
   No
Deed   Book: 24238, Page:
   93
Disclosure Declaration  
   No
Disclosures   This is an
   on-going business.
   Financial information
   provided to qualified
   buyers upon execution of
   non-disclosure agreement.
Exchange   No
Foreclosure   No
Lease   No
Lien and Encumb   No
Off Market Date   11/4/16
Short Sale   No
Site Condition   Level
Space Available   For Sale
Sublet   No
Year Built Source   OW
Zone Desc.   Legal
   Conforming

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Property Last Updated by Listing Office: 3/21/17 6:29pm

Courtesy: MLSPIN

Listing Office: RE/MAX Advantage Real Estate Listing Agent: Kathleen Sullivan


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The information in this listing was gathered from third party resources including the seller and public records. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.