345 Nahatan StNorwood, MA 02062

Property Details for 345 Nahatan St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.05 AC

Property size (Sq ft)

1,686 SF

Property type

Retail space

APN

NORW M:00005 B:00011 L:0025A

APU

NORWM00005B00011L0025A

Description

345 Nahatan Street, Norwood, MA offers a fantastic retail investment opportunity. This well-maintained commercial building, totaling 3,441 square feet according to public records, is ideally situated on a 0.05-acre lot at the highly visible corner of Nahatan and Fulton Streets. Built in 1920, the property is currently occupied by a dry cleaning business, but its versatile zoning allows for a variety of commercial uses. The building boasts ample display windows and a convenient parking space, maximizing its appeal to potential customers. Its prime location benefits from significant foot and vehicle traffic, ensuring high visibility for any business. The surrounding area is rich with amenities, including Oldham Elementary School, the Norwood Council on Aging, and the Morrill Memorial Library, contributing to a thriving and active community. This property presents a unique chance to acquire a well-established commercial space in a desirable location, offering the potential for continued success as a dry cleaner or adaptation to a new retail venture. The asking price is $430,000.

• CAP approach

  CAP return

  Valuation

  6%

  $409,757

  6.5%

  $378,237

  7%

  $351,220

• Comparable approach

  Method

  Valuation

  Relative Method

  $555,138

  Geo Method

  $555,138

• Alternative Use

  Use

  Valuation

  Residential

  $319,057

  Hospitality

  $292,255

  Educational

  $243,152

  Medical

  $251,515

  Retail

  $378,237

Location Insight

City

Norwood

County

Norfolk

State

Massachusetts

Latitude

42.1989

Longitude

-71.2044

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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