109 Nichols AveWatertown, MA 02472

Property Details for 109 Nichols Ave

Year built

1921

Construction

FRAME

Lot size

0.13 AC

Property size (Sq ft)

5,760 SF

Zone code

NB

Property type

Investment properties

Property subtype

Live-work space

APN

WATE M:1226 B:0017 L:0061A

APU

WATEM1226B0017L0061A

Description

This exceptional mixed-use property at 109 Nichols Ave, Watertown, MA presents a compelling investment opportunity. The property sits on a 0.13-acre lot and is offered at $2,375,000. The building boasts approximately 3,500 square feet of ground-floor commercial space, currently fully occupied by four thriving businesses. These include a well-regarded grocery store, a popular restaurant, and two additional commercial tenants, generating a substantial income stream. The restaurant is known for its high customer traffic and appealing menu, while the grocery store is a community staple. Upstairs, the property features over 2,500 square feet of residential space, divided into two expansive units. One unit is a spacious three-bedroom, two-bathroom home with an open floor plan, modern kitchen with updated appliances, in-unit laundry, central air conditioning, and quality finishes throughout. All residential units have private second-floor entrances. The property also includes six parking spaces. The current net operating income (NOI) is approximately $130,000, offering significant potential for increased income through future rent adjustments and lease negotiations. This fully-rented property is ideally suited for investors seeking a diversified income stream and strong potential for appreciation in a highly desirable Watertown location. This property is perfect for a 1031 exchange.

• CAP approach

  CAP return

  Valuation

  6%

  $952,300

  6.5%

  $879,046

  7%

  $816,257

• Comparable approach

  Method

  Valuation

  Relative Method

  $752,602

  Geo Method

  $752,602

• Alternative Use

  Use

  Valuation

  Residential

  $1,090,017

  Hospitality

  $998,450

  Educational

  $830,699

  Medical

  $859,268

  Retail

  $1,292,198

Location Insight

City

Watertown

County

Middlesex

State

Massachusetts

Latitude

42.3686

Longitude

-71.1605

CBSA code

14460

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].