Overview
- Updated On:
- September 6, 2022
- 3,168 ft2
Description
ATTENTION INVESTORS & DEVELOPERS: Insight Realty Group, Inc. is proud to present this exclusive 5 Unit Commercial Building at the gateway to Roslindale Village! This is a rare and unique offering with immediate income and tremendous upside potential for future redevelopment. This two-level brick building on a busy corner offers 5 commercial storefronts at street level on Washington Street and lower-level garage bays and off-street parking on Albano Street. The property is a perfect candidate for a mixed-use residential/commercial redevelopment with plenty of garage & off-street parking at the rear accessed via Albano Street. The current rents are $111,600/year with expenses of $21,908 and an NOI of $89,682 with an estimated cap rate of 5%. Current rents are below market and 3 out of 5 units are TAW. The business owner of the Liquor store may be willing to participate in the sale of the Liquor store license and business along with the building. A perfect opportunity for a 1031 exchange!
