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$729,000
Est. payment /mo
6,098 Sqft Lot
UPDATED:
11/12/2024 08:05 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 73302006
HOA Y/N false
Year Built 1989
Annual Tax Amount $5,134
Tax Year 2024
Lot Size 6,098 Sqft
Acres 0.14
Property Description
Tri Town Commercial Advisors is pleased to present a single-tenant, net-leased cannabis dispensary in the highly sought-after market of Martha’s Vineyard, located in the bustling State Road commercial district, anchored by Cronig’s grocery store. This flagship location features a thriving dispensary tenant who signed a 10-year lease in 2021, with 2.5% annual rent escalations throughout the primary term and option periods, providing steady income growth.The property boasts a prime location in one of New England’s most iconic coastal destinations, drawing in a diverse customer base of both locals and tourists. It’s also within walking distance from the ferry terminal and is situated outside of the flood plain, further enhancing its desirability.The Town of Tisbury is currently installing a sewer line along this stretch of State Road and is in the process of re-writing its zoning by-laws, creating more options for future redevelopment of this property.
Location
State MA
County Dukes
Zoning bus
Direction Google Maps
Exterior
Total Parking Spaces 10
Others
Senior Community false
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Listed by Tri Town Associates