266 Slades Ferry AveSomerset, MA 02726

Property Details for 266 Slades Ferry Ave

Year built

1948

Lot size

0.21 AC

Property size (Sq ft)

1,196 SF

Zone code

C

Property type

Gas stations

APN

SOME M:0B4 L:0229

APU

SOMEM0B4L0229

Description

This exceptional 0.52-acre commercial lot at 266 Slades Ferry Ave, Somerset, MA, presents a remarkable opportunity for high-impact business development. Situated on a major intersection with a four-way traffic light on Route 6, this property boasts unparalleled visibility and accessibility. The site has already been graded and prepared for immediate construction, eliminating significant upfront development costs. Currently zoned as limited business, the property is also subject to the Slades Ferry District by-law 9.5.5 use regulations (reviewable on the Town of Somerset website). This by-law allows for mixed-use development, potentially incorporating commercial space on the lower levels and residential units above, as illustrated in a provided concept plan. Alternatively, a zoning change application could revert the property to a standard business zone. The lot features four existing curb cuts, along with readily available town water, sewer, and gas services. While public parking is located approximately 600 feet away, the property's strategic location within a thriving commercial area, surrounded by established businesses such as Starbucks, Home Depot, Dunkin' Donuts, Kentucky Fried Chicken, Sonic, hotels, and Stop & Shop, ensures high foot and vehicle traffic. The owner is open to both outright sale at $799,000 or a land lease arrangement, offering flexibility to suit various investment strategies.

• CAP approach

  CAP return

  Valuation

  6%

  $290,670

  6.5%

  $268,311

  7%

  $249,146

• Comparable approach

  Method

  Valuation

  Relative Method

  $393,799

  Geo Method

  $393,799

• Alternative Use

  Use

  Valuation

  Residential

  $226,330

  Hospitality

  $207,317

  Educational

  $172,485

  Medical

  $178,417

  Retail

  $268,311

Location Insight

City

Somerset

County

Bristol

State

Massachusetts

Latitude

41.7281

Longitude

-71.161

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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