7 Prospect StWoburn, MA 01801

Property Details for 7 Prospect St

Year built

1900

Construction

FRAME

Lot size

0.16 AC

Property size (Sq ft)

4,314 SF

Zone code

B-D

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

WOBU M:51 B:19 L:16 U:00

APU

WOBUM51B19L16U00

Description

This exceptional mixed-use property in desirable Woburn, MA presents a unique investment opportunity. Located at 7 Prospect Street, this 0.16-acre lot boasts a thriving commercial space currently operating as a convenience store, perfectly suited for a variety of professional uses including, but not limited to, dental, medical, or other service-based businesses. The property also includes five one-bedroom residential units and one two-bedroom unit, providing a substantial rental income stream. In total, there are seven bedrooms and seven bathrooms across the residential units. The property offers ample parking with space for eleven vehicles. Its convenient location near the bus line and the vibrant shops and restaurants of Woburn Center ensures high visibility and accessibility for both the commercial and residential aspects of the property. The attached floor plan provides detailed information on the layout and configuration of the units. This is a rare chance to acquire a property with both established commercial income and significant residential rental potential in a highly sought-after location. The asking price is $1,399,000. Don't miss this chance to own a piece of Woburn's thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $713,233

  6.5%

  $658,369

  7%

  $611,343

• Comparable approach

  Method

  Valuation

  Relative Method

  $563,667

  Geo Method

  $563,667

• Alternative Use

  Use

  Valuation

  Residential

  $816,378

  Hospitality

  $747,797

  Educational

  $622,159

  Medical

  $643,556

  Retail

  $967,802

Location Insight

City

Woburn

County

Middlesex

State

Massachusetts

Latitude

42.4787

Longitude

-71.1499

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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