Peabody, MA 01960,4 Lake St
Peabody, MA 01960,4 Lake St
Peabody, MA 01960,4 Lake St
$2,700,000
Est. payment /mo
$3,400,000
20.6%
Est.Price: ?

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7,360 SqFt
SOLD DATE : 06/26/2024

Key Details

Sold Price $2,700,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

Square Footage 7,360 sqft

Price per Sqft $366

MLS Listing ID 73214626

Sold Date 06/26/24

HOA Y/N false

Year Built 1960

Annual Tax Amount $25,283

Tax Year 2024

Lot Size 1.850 Acres

Acres 1.85

Property Description

The retail strip consists of 7 fully leased stores with a diverse mix of tenants, including a Greek Bakery, Tattoo Shop, Nail/Pedicure Salon, Driving School, Chinese Fast-Food Restaurant, Barbershop, and Physical Therapy Establishment. Convenient location on Lake Street, cornering Lowell Street, attracting customers from surrounding areas like West Peabody, Lynnfield, and Reading and more. Well-maintained property with ample parking and convenient access for deliveries. Fully leased properties ensure immediate income generation for investors, providing stability and cash flow. With the adjacent residential property also fully leased, investors benefit from diversified income streams. Given the prime location and zoning designation, there may be opportunities for future development or renovation to increase the value of the properties further. This property could be sold with MLS # 732114637 which is priced at $799,900.

Location

State MA

County Essex

Zoning BN

Direction Lowell Street to Lake Street

Exterior

Utilities Available Public Water, Public Sewer

Total Parking Spaces 45

Others

Senior Community false

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Listed by Pasciuto and Associates
Bought with Frank Pasciuto • Pasciuto and Associates

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Eric Chauvin

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