Property profile

Main St Essex, MA 01929

OFF-MARKET
Commercial real estate
1.09 ac lot Built 1925
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Property summary

AI-generated overview

This exceptional 1.09-acre property in Essex, MA, presents a rare development opportunity for discerning investors and contractors. Currently housing a restaurant and motel/inn, this site boasts stunning waterfront views of the Essex River, Cranes Beach, and Hog Island. The property's prime location along the Essex Causeway offers unparalleled access to local amenities, including restaurants, shopping, and marinas. Convenient access to major roadways such as Routes 133, 22, 1A, and 95 ensures easy commuting. A key feature is the inclusion of 17 private dock slips directly on the water, enhancing the property's desirability. The property is serviced by town water and sewer, and ample parking is available. The seller is open to including an adjacent property for expanded parking options. The potential for waterfront condominium development is significant, given the picturesque setting and convenient location. This is a truly unique opportunity to create a high-value development in a highly sought-after area. Showings are by appointment only, and access is strictly limited to accompany the listing representative. Prospective buyers are responsible for conducting their own due diligence.

Property profile

Verified
Property type Commercial real estate
Year built 1925
Lot 1.09 ac (47,480 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Main St Essex, MA 01929
Essex metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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