176-178 Court StPlymouth, MA 02360

Property Details for 176-178 Court St

Year built

1900

Lot size

0.71 AC

Property size (Sq ft)

7,601 SF

Property type

Mixed-use properties

Property subtype

Multifamily properties

Description

This exceptional mixed-use investment property, located at 176-178 Court Street in the heart of Downtown Plymouth, Massachusetts, presents a compelling opportunity. The 7,601 square foot building, constructed in 1900 and extensively renovated in 2021, comprises two buildings across two stories and sits on a 0.71-acre lot. Currently boasting 100% occupancy with seven residential and three commercial units, the property generates a substantial net operating income (NOI) of $129,228, with a pro-forma NOI of $218,028. The current cap rate stands at 6.99%, while the pro-forma cap rate is a promising 11.79%. The asking price is $1,850,000, translating to a price per square foot of $243.39. The property features a 24x24 detached garage with a bay, offering additional rental income potential. Dedicated parking is available for each unit. All leases are tenant-at-will. The property is zoned TC and benefits from its prime location near iconic landmarks, parks, beaches, shops, restaurants, and major transportation routes. A coin-operated laundry in the basement adds to the property's income stream. The commercial spaces are ideal for retail or professional offices. Residential units offer modern finishes and updated kitchens and bathrooms. Detailed financial information, including a rent roll and expense report, is available upon request. Buyer to verify all information.

Location Insight

City

Plymouth

County

Plymouth

State

Massachusetts

Latitude

41.9642

Longitude

-70.6763

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