38 Market St Amesbury, MA 01913
- Retail properties
- 4,181 SF
Current Use by Public Records
- Dr. Joseph Py, MD / Family Practice Physician
Property Details for 38 Market St
- Year built
- 1900
- Property size
- 4,181 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional Amesbury, MA property at 38-40 Market Street presents a compelling redevelopment opportunity for both investors and end-users. The 4,181 square foot building, constructed in 1900, sits on a 6,098 square foot lot and is zoned CB. Currently configured as a multi-tenant retail space, it features two units totaling 4,181 square feet, with a 50% occupancy rate. One unit, a 1,500 square foot retail/restaurant space, is currently leased on a NNN basis with one year remaining. The second unit, a 2,500 square foot vacant space, has recently undergone renovations including new bathrooms, kitchens, carpeting, walls, and ceilings, making it move-in ready. The asking price is $599,999, translating to $143.51 per square foot. The property's prime downtown location offers significant upside potential, particularly given the permitted zoning and the possibility of vertical expansion to add residential units. This presents a unique chance to acquire a versatile property suitable for various uses, from continued retail operation to complete redevelopment. The existing lease provides flexibility for immediate income generation or redevelopment plans. This is a rare opportunity to acquire a property in a thriving downtown area with significant growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Amesbury
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.9299
- Latitude
- 42.8589
