Investment and/or development opportunity in NB Zone! Highly-desirable location with LOTS of parking. Address and Prospectus shared upon signing NDA. Established & recognizable retail tenants in place with triple net leases. One commercial unit is unoccupied/unfinished space, ready for your vision and completion as 3BR/1.5 BA (1200 s/f) with special permit. Significant recent investment in property infrastructure. Buyer responsible for all property verification and due diligence with facilitation by Seller Broker. Not in flood zone. Current Owner share annual expenses $4,116 factored for NOI $87,684. Potential to vision and explore development of 10-12 Luxury Condominiums. Preliminary architectural plans to develop existing footprint and expand with (2) two additional footprints. See MLS #73418193 for optional offering of (3) units, priced $1,250,000. Motivated Seller!
0000 Confidential Ave., Gloucester, MA, 01930
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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