109 Nichols Ave Watertown, MA 02472-4128
- Investment properties
- 5,760 SF
- 0.13 lot acres
Current Use by Public Records
- Investment properties
Property Details for 109 Nichols Ave
- Year built
- 1921
- Construction
- FRAME
- Lot size
- 0.13 lot acres
- Property size
- 5,760 SF
- Zone code
- NB
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- WATE M:1226 B:0017 L:0061A
- APU
- WATEM1226B0017L0061A
Description
This exceptional mixed-use property at 109 Nichols Ave, Watertown, MA presents a compelling investment opportunity. The property sits on a 0.13-acre lot and is offered at $2,375,000. The building boasts approximately 3,500 square feet of ground-floor commercial space, currently fully occupied by four thriving businesses. These include a well-regarded grocery store, a popular restaurant, and two additional commercial tenants, generating a substantial income stream. The restaurant is known for its high customer traffic and appealing menu, while the grocery store is a community staple. Upstairs, the property features over 2,500 square feet of residential space, divided into two expansive units. One unit is a spacious three-bedroom, two-bathroom home with an open floor plan, modern kitchen with updated appliances, in-unit laundry, central air conditioning, and quality finishes throughout. All residential units have private second-floor entrances. The property also includes six parking spaces. The current net operating income (NOI) is approximately $130,000, offering significant potential for increased income through future rent adjustments and lease negotiations. This fully-rented property is ideally suited for investors seeking a diversified income stream and strong potential for appreciation in a highly desirable Watertown location. This property is perfect for a 1031 exchange.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,530,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,455,000
- 6.5%
- $1,610,000
- 7%
- $1,440,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,710,000
- Geo Method
- $1,595,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,545,000
- Retail
- $1,845,000
- Mixed-Use
- $1,445,000
- Hospitality
- $1,600,000
- Educational
- $1,475,000
- Residential Income
- $1,525,000
- Energy
- $1,490,000
- Income-Based Land
- $1,575,000
- Food Service
- $1,400,000
Location Insight
- Map
- Local Demand
- City
- Watertown
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.1605
- Latitude
- 42.3686
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
