Current Use by Public Records
- Mixed-use properties
Property Details for 176-178 Court St
- Year built
- 1900
- Lot size
- 0.71 lot acres
- Property type
- Mixed-use properties
- Property subtype
- Apartment buildings
Description
This exceptional mixed-use investment property, located at 176-178 Court Street in the heart of Downtown Plymouth, Massachusetts, presents a compelling opportunity. The 7,601 square foot building, constructed in 1900 and extensively renovated in 2021, comprises two buildings across two stories and sits on a 0.71-acre lot. Currently boasting 100% occupancy with seven residential and three commercial units, the property generates a substantial net operating income (NOI) of $129,228, with a pro-forma NOI of $218,028. The current cap rate stands at 6.99%, while the pro-forma cap rate is a promising 11.79%. The asking price is $1,850,000, translating to a price per square foot of $243.39. The property features a 24x24 detached garage with a bay, offering additional rental income potential. Dedicated parking is available for each unit. All leases are tenant-at-will. The property is zoned TC and benefits from its prime location near iconic landmarks, parks, beaches, shops, restaurants, and major transportation routes. A coin-operated laundry in the basement adds to the property's income stream. The commercial spaces are ideal for retail or professional offices. Residential units offer modern finishes and updated kitchens and bathrooms. Detailed financial information, including a rent roll and expense report, is available upon request. Buyer to verify all information.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Plymouth
- County
- Plymouth
- State
- Massachusetts
- Longitude
- -70.6763
- Latitude
- 41.9642
