1010 Chestnut StNewton, MA 02464

Property Details for 1010 Chestnut St

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.16 AC

Property size (Sq ft)

1,310 SF

Zone code

BU1

Property type

Gas stations

APN

NEWT S:51 B:004 L:0003

APU

NEWTS51B004L0003

Description

This established auto repair shop in Newton Lower Falls, MA, offers a prime opportunity for a new owner. The 1,500 square foot, single-tenant property sits on 0.16 acres and includes a three-bay garage equipped with three lifts and a compressor. Built in 1948, the one-story building features six parking spaces and three-phase power. The property is zoned BU1 (buyer to verify zoning specifics). The APN is NEWT-000051-000004-000003. The lease assignment price is $55,000, and the landlord requires first month's rent, last month's rent, and a security deposit. The property is conveniently located adjacent to an unbranded gas station (lease does not include gas station). The driveway may be shared. Potential buyers are responsible for conducting their own due diligence to confirm square footage, boundary lines, and utilities. This includes verifying the property size and utilities with the seller. This is a fantastic opportunity to acquire a well-equipped auto repair business in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $318,376

  6.5%

  $293,885

  7%

  $272,893

• Comparable approach

  Method

  Valuation

  Relative Method

  $431,335

  Geo Method

  $431,335

• Alternative Use

  Use

  Valuation

  Residential

  $247,903

  Hospitality

  $227,078

  Educational

  $188,926

  Medical

  $195,424

  Retail

  $293,885

Location Insight

City

Newton

County

Middlesex

State

Massachusetts

Latitude

42.3148

Longitude

-71.2251

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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