116 Central StIpswich, MA 01938

Property Details for 116 Central St

Year built

1969

Construction

FRAME

Lot size

0.19 AC

Property size (Sq ft)

3,224 SF

Zone code

GB

Property type

Banks

APN

IPSW M:30D B:077A L:0

APU

IPSWM30DB077AL0

Description

This 1,724 square foot, single-story, Class B building is situated on an 8,188 square foot lot in the heart of downtown Ipswich, Massachusetts, at 116 Central St, 01938. Built in 1969, this vacant property offers a unique opportunity for owner-users. The building features a full, usable basement and a convenient drive-thru, making it ideal for a variety of uses including, but not limited to, a bank, convenience store, or restaurant. Its prime location next to CVS ensures high visibility and accessibility. The property is zoned for business use and presents a rare chance to acquire a freestanding building in a thriving downtown area. The asking price is $700,000. This is a single-unit property with one building.

• CAP approach

  CAP return

  Valuation

  6%

  $783,545

  6.5%

  $723,272

  7%

  $671,610

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,061,544

  Geo Method

  $1,061,544

• Alternative Use

  Use

  Valuation

  Residential

  $610,107

  Hospitality

  $558,855

  Educational

  $464,960

  Medical

  $480,951

  Retail

  $723,272

Location Insight

City

Ipswich

County

Essex

State

Massachusetts

Latitude

42.6837

Longitude

-70.8443

CBSA code

14460

CBSA name

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

Property Tax & Assessments

FAQs

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