An exceptional opportunity to acquire a landmark 42-unit commercial building at the heart of downtown Wakefield. Originally constructed by Cyrus Wakefield, the industrialist after whom the Town of Wakefield was named in 1868, this property represents a rare convergence of historical significance, stable multi-tenant income, and a compelling rent-upside story that gives a buyer an immediate, low-risk path to value creation. The building is mostly tenancy at will. Those who have walked through the Wakefield Building invariably come away with something beyond a financial impression. The craftsmanship is immediate and undeniable — the massiveness of the structure, the robust mechanical systems, the sweeping staircases, the warmth of real wood throughout. There is a soul to this building that no modern construction can replicate, and visitors feel it instinctively. It is the rare quality of something built without compromise, in an era when buildings were made to last centuries.
414-416 Main St, Wakefield, MA, 01880
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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