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Prepared for : Jul-24-2017 08:42:33 am

101 Main Street
Rowley, MA. 01969
MLS # 71939344
Comm./Ind. Commercial
Status Sold
County Essex
Directions 101 Main Street Is Route 1a In Rowley
List Price $1,600,000 Zoning Central
List Date   Days on Market  
Sale Price $1,400,000 Est. Street Front 0
Sold Date 3/21/17 Depth 0
Assessed Value $1,353,500 Waterfront  
Lot Size 3.80A Parking Spaces 25
Square Footage 12,168 # Units 26
Taxes $19,436.26 Tax Year 2016
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Popular, profitable North Shore inn and spa business opportunity. Price includes the real estate, furniture, fixtures, supplies, systems and procedures used to market and operate this successful motel business. Property consists of 3.8 acres, 25 parking spaces, in-ground pool, spa and 8 buildings with office + 23 rental units + a 2,948 sf, 6 room, 3 bed & 2 bath rental single family home built in 1994 + resident manager's 3 room apartment located above the office. Grounds are professionally landscaped with an extensive irrigation system. All buildings have been updated over the past 5 years. Owners will transfer their engineering plans to add an additional 4 unit building whose sewer lines tie into building #8's septic system which was designed to accommodate this new building . Capitalization rate (return on investment) for this property is an attractive 9.9%. This Country Inn is a unique combination of lodging options in a quiet setting in the heart of Boston's North Shore.

Construction : Frame
Driving Doors : 0
Easements : 0
Elevator : No
Expandable : Yes
Loading Docks : 0
Location : Suburban
Parking : Assigned
Railroad Siding : No
Roof : Asphalt/Composition Shingles
Traffic Count : 0
Utilities : Public Water, Private Water, Private Sewer, Natural Gas

Building Assessed Value : $873,900
Gross Annual Exp. : $213,276
Gross Annual Income : $372,000
Land Assessed Value : $479,600
Net Oper. Income : $158,788

21E on File : No
Association Info : Association Available?: No
Deed : Book: 24238, Page: 93
Disclosure Declaration : No
Disclosures : This is an on-going business. Financial information provided to qualified buyers upon execution of non-disclosure agreement.
Exchange : No
Foreclosure : No
Lease : No
Lien and Encumb : No
Off Market Date : 11/4/16
Short Sale : No
Site Condition : Level
Space Available : For Sale
Sublet : No
Year Built Source : OW
Zone Desc. : Legal Conforming

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The information in this listing was gathered from third party resources including the seller and public records. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.