Value Add Mixed-Use Opportunity in Haverhill, MA
Retail-Commercial
for Sale
| Catylist Listing ID: |
30875645 |
| Property Subtypes: |
Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
|
| Building Size (RSF): |
2,370 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.05 Acres
|
| Sale Price: |
$800,000 |
| Unit Price: |
$337.55 PSF |
| Ceiling: |
10 ft. |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment, Vacant/Owner-User |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
8/26/2024 |
Overview / Comments
An Opportunity Zone value add mixed-use opportunity! The Lantern Cafe has been a fixture in Haverhill for over 40 years and is ready to turn the reigns over to a new owner or a developer with vision. This local bar is licensed for 55 capacity with 16 at the bar. In addition to the street-level bar, there is a two-bedroom apartment above. This is located in Opportunity Zone 2608, which may offer incentives for redevelopment.
The 2,370sf structure is situated on a .048-acre lot in the commercial zone, which allows many uses by right or exception. A 660sf basement not included in the stated square footage is currently used for storage. Close to bus & train terminals and public parking lots. All furniture, fixtures, and equipment are included in the sale as well as all transferrable licenses.
All information was obtained from the seller and public records, prospective buyers are encouraged to perform all due diligence necessary for their contemplated acquisition.
|
Financials
| Finance Data Year |
2024 |
| Real Estate Taxes - Annual($) |
$3,926 (Annual) |
Additional Details
| Nearest MSA: |
Boston-Cambridge-Newton |
| County: |
Essex |
| Tax ID/APN: |
515/00297/18 |
| Zoning: |
CI |
| Retail Clientele: |
General, Business, Traveler, Tourist |
| Property Located Between: |
I-495 to Exit 108, Route 97 south to Essex St |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Essex Street |
| Highway Access: |
I-495 to Exit 108, Route 97 |
| Airports: |
Boston Logan Airport and Manchester Boston Regional Airport |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Property Condition: |
Average |
| Year Built: |
1900 |
| Roof Type: |
Other |
| Construction/Siding: |
Concrete |
| Total Parking Spaces: |
2 |
| Parking Type: |
Surface |
| Heat Type: |
Natural Gas |
| Lot Frontage: |
50 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
28,104 |
68,843 |
165,612 |
| Median Age: |
35.37 |
39.11 |
37.96 |
| Households: |
11,198 |
27,196 |
61,210 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
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