175 Salem St Lowell, MA 01854

Property Details for 175 Salem St

Year built

1917

Lot size

0.21 lot acres

Property type

Investment properties

Description

Cote's Market, a Lowell institution for over a century, presents a unique business opportunity. This turnkey operation boasts over $85,000 in upgrades within the last six years, including new display coolers, refrigeration units, freezers, and energy-efficient mini-split systems. The business is well-established, renowned for its Famous Cote's Beans, prepared foods, and grocery selection. Significant expansion potential exists with nine pizza ovens already in place. Ancillary systems, including a security system, are fully installed. Ample storage is available, featuring two walk-in coolers, a walk-in freezer, and additional basement storage. The property benefits from a convenient location near UMass Lowell, providing a strong customer base. Sales are further enhanced by the availability of lottery tickets, cigarettes, and EBT payments. Parking is readily available, both on and off-street. A long-term lease is offered, encompassing a five-year initial term with two five-year renewal options. The current owner is willing to provide training to ensure a smooth transition for the new owner. This is a rare chance to acquire a thriving, established business with a rich history and significant growth potential. The 0.21-acre lot provides ample space for operations.