Overview
Commercial Property with Income Potential
This commercial property, offered for sale, features a gross area of 9,923 square feet, with a usable area of 8,570 square feet, situated on 1.96 acres. The building includes 12-foot ceilings and is divided into two units: a 3,789-square-foot restaurant, representing 38% of the space, and a 5,625-square-foot grocery store, accounting for 57% of the area, plus a 509 square foot enclosed porch. The property currently generates an annual gross income of $240,000 from month-to-month tenants, Masses American Bistro and Masses Fresh Market, each paying $10,000 per month. The tenants are responsible for utilities and all exterior maintenance, including snow plowing, landscaping, and trash removal. Landlord expenses total $40,000 per year, including $5,000 for water, $25,000 for taxes, and $10,000 for insurance, resulting in a net operating income (NOI) of $200,000 and a 10.0% cap rate. The sale includes both operating businesses with furniture, fixtures, and equipment (FF&E), inventory, trade names, and goodwill. The property can be delivered vacant for turnkey operations or redevelopment. These are established local brands with loyal customers and proven revenue.
