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51 Cass Avenue Dracut, MA 01826
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Key Details
Sold Price $1,850,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 6,298 sqft
Price per Sqft $293
MLS Listing ID 72969149
Year Built 1962
Annual Tax Amount $11,530
Tax Year 2021
Lot Size 0.880 Acres
Property Description
15.14% CAP RATE! A++ LOCATION! ONCE IN A DECADE OPPORTUNITY TO OWN DRACUT TIRE BUSINESS, LAND & 2 BUILDINGS! ESTABLISHED 58-YEAR-OLD COMPANY. THREE CONTIGUOUS LOTS (38,200 SQFT in TOTAL AREA) consisting of an Automotive repair shop (Dracut Tire), 2 Family Building, and a vacant lot zoned commercial/developable land. MULTIPLE REVENUE STREAMS and potential to rent out the 2 Family Building. Dracut Tire provides: State inspections, Auto Repair, Tire Sales, and is licensed for a used car lot for up to 25 cars. 21E-- Environmental Phase 1 & 2 completed in February of 2022 by Williamson Environmental LLC. The 3 Contiguous lots are: 1265 Lakeview Avenue, 1269 Lakeview Avenue and 51 Cass Avenue in Dracut, MA 01826. Buyer to conduct own due diligence. Projected 2022 NOI is $315,000.00 which would be a projected cap rate of 15.79%.
Location
State MA
County Middlesex
Zoning Commercial
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Bought with Fadia Nehme • Team Zingales Realty, LLC
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