297 Broadway Lawrence, MA 01843-2631

Property Details for 297 Broadway

Year built

1934

Construction

STEEL FRAME

Lot size

0.11 lot acres

Property size

1,022 SF

Property type

Turn key restaurants

APN

LAWR M:0098 B:0000 L:0010

APU

LAWRM0098B0000L0010

Description

This exceptional investment opportunity presents a fully operational restaurant at 297 S Broadway, Lawrence, MA, 01843. The 1,022 square foot, single-story building, constructed in 1934, sits on a 0.11-acre corner lot with convenient highway access and 8 paved parking spaces. The property features a 10-foot ceiling height, a full basement providing ample storage, and is zoned B2. The restaurant, operating under a NNN lease with 3 years remaining, boasts 100% occupancy and a 5.00% cap rate. All equipment and furnishings are included in the sale price of $700,000 ($1,076.32/sq ft). The business includes a beer and wine license and is currently open seven days a week, employing 12 staff members. The seller is willing to provide training to the new owner(s). The building is of frame and steel construction with a metal roof and is serviced by public water, sewer, and natural gas. This free-standing property presents a rare opportunity to acquire a thriving business and valuable real estate in a prime South Lawrence location. The APN is M:0098 B:0000 L:0010.

Location Insight

City

Lawrence

County

Essex

State

Massachusetts

Longitude

-71.16

Latitude

42.6907

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments