Third Street Exchange - Mixed Use Building for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30705767
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Other
Building Size (RSF): 40,280 SF
Gross Building Area: See Agent
Gross Land Area: 0.77 Acres
Sale Price: $2,500,000
Unit Price: $62.07 PSF
Property Use Type: Investment
Building Name: Third Street Exchange
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/13/2021

Overview / Comments

The Third Street Exchange is both an investment opportunity. The Property is mostly occupied and provides a considerable income stream available upon signing a Confidentiality Agreement. Approvals are in place for converting the existing second floor spaces into nine 1-Bedroom units and one 2-Bedroom unit, with sizes ranging from 650 +/- SF to 1,148 +/- SF. Approvals were granted on January 29, 2020 and are valid for 5 years from that date.

Walking distance to Amtrak Downeaster, Dover Transportation Center.

Tenants include: Sewing Tree, Earth Harmony Wellness, Tri-Star Gymnastics, The June Cork Pub, Wrong Brain (Artists and More), K9 to 5 Dog Services, Musical Arts of Dover, and Dunlap Acounting

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $46,879 (Annual)

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Strafford
Tax ID/APN: 31007-000000
Zoning: CBD TRANSIT ORIENTED DEVELOPMENT SUB-DISTIRCT
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Visibility: Excellent
Highway Access: From I-95, take Spaulding Turnpike North to NH-16 to Dover. Take Exit 7 and turn left onto Central Ave; turn right on Locust St.; left onto Chestnut St., left onto Third St.
Area Description: Within walking distance of Downtown Dover.
Tenancy: Multiple Tenants
Number of Stories: 3
Property Condition: Good
Year Built: 1930
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding
Total Parking Spaces: 24
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Lot Frontage: 290
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,252 30,537 65,794
Median Age: 33.21 36.53 35.15
Households: 4,746 12,983 24,568

Contact

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