259 Essex StSaugus, MA 01906

Property Details for 259 Essex St

Year built

1991

Lot size

0.47 AC

Property size (Sq ft)

3,200 SF

Zone code

NA

Property type

Turn key restaurants

APN

SAUG M:007-D B:0005 L:0005

APU

SAUGM007DB0005L0005

Description

This exceptional 3,200 square foot restaurant building in Saugus, Massachusetts presents a rare opportunity. Located at 259 Essex Street, this single-tenancy property boasts a highly visible pad site with direct sightlines from Route 1, ensuring maximum exposure to the substantial daily traffic volume exceeding 120,000 vehicles. Its strategic location offers convenient access from both the northbound and southbound lanes of Route 1, maximizing accessibility for customers. The property is a second-generation restaurant space, presenting the potential for a drive-thru addition, further enhancing its operational capabilities. This location benefits from its proximity to the Square One Mall, a significant retail center anchored by major brands such as Dick's Sporting Goods, Best Buy, Macy's, and T.J. Maxx, drawing a large customer base. The property sits within a super regional trade area encompassing over 470,000 people, boasting an average household income of $114,350 within a five-mile radius, indicating strong consumer spending power. A proposed new pylon sign will further increase visibility and brand recognition. Situated in Essex County, this property offers a compelling investment opportunity in a high-traffic, densely populated area with strong retail synergy. The property's address is 259 Essex Street, Saugus, MA 01906.

• CAP approach

  CAP return

  Valuation

  6%

  $777,712

  6.5%

  $717,888

  7%

  $666,610

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,053,642

  Geo Method

  $1,053,642

• Alternative Use

  Use

  Valuation

  Residential

  $605,565

  Hospitality

  $554,694

  Educational

  $461,499

  Medical

  $477,371

  Retail

  $717,888

Location Insight

City

Saugus

County

Essex

State

Massachusetts

Latitude

42.4581

Longitude

-71.023

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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