236 Main St, Lee, MA 01238

Public Remarks

Main Street commercial building with two storefronts and four apartments. Both stores are currently occupied and have leases with price adjustments built into the lease. All of the units pay for their own utilities, the apartments have electric heat and the two stores have gas forced hot air furnaces. Main Street commercial building with two storefronts and four apartments. Both stores are currently occupied and have leases with price adjustments built into the lease. Three of the four apartments are currently rented. All of the units pay for there own utilities, the apartments have electric heat and the two stores have gas forced hot air furnaces. All of the apartments are in good condition with two of them having lead compliant certificates. The current potential rental income is $54,216 with expenses of $15,811 giving the property a NOI of $36,778 figuring in a vacancy rate of 3%. The cap rate at the listed price is 8.7 and the before tax cash on cash return is 7.4% based on 20% down with a 25 year amortization period at 7.5%.

Public Remarks

Mixed use building with two store fronts and five apartments. One of the stores is a Subway store the other is vacant at this time but was a Package store at one time with the coolers still in place. The stores have their own forced hot air heat along with central air. The five apartments all have leases with Berkshire Housing. The fifth apartment is an efficiency apartment that is rented for $5