38 Market St Amesbury, MA 01913

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.