Commercial for Sale: 108-122 Lafayette, Salem, MA 01970 SOLD

$6,000,000
$6,000,000
108-122 Lafayette, Salem, MA 01970 SOLD
$6,000,000
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Selling Price: $6,000,000
Original List Price: $6,500,000
Sold at 92.3% of list price
Sold Date: 12/06/2024

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Type Commercial
Lot Size 0.18 acres
Year Built 1915
City Salem
County Essex
MLS 73264543
Status Closed
DOM 144 days
Looking for cash flow? This mixed-use property is a rare gem, boasting not only six (6) commercial spaces but also a thriving fifty seven (57) room rooming house. The rooming house consists of thirty three (33) rooms with private baths and twenty four (24) with shared baths. Using 2023 income this property is being offered at a 9.7% cap rate with projected rents for 2024 bringing to a 10.8% cap rate. A 5% vacancy has already been factored into the gross revenue. The first floor office and laundromat are currently being run by the owners and are included in the sale. The Landlord is responsible for all utilities for the rooming house and heat/hw and water/sewer for the commercial spaces. **THIS PROPERTY IS TO BE SOLD WITH 286 WASHINGTON ST MLS# 73264544**. Seller is open to exploring a seller financing deal for the right buyer. See attached for income/expenses and a rent roll of the commercial space. Rooming house rent rolls change weekly but can be provided upon request.

Lot & Building Features

Tax Year 2022
Taxes Paid $48,417
Roof Rubber

Price History of 108-122 Lafayette, Salem, MA

Date Name Price Difference
07/15/2024 Listing Price $6,000,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Photo of Trilogy Realty Group
Direct: 866-874-0093
Office
PO Box 101
Merrimack, NH 03054
603-787-3155
Listed by Little & Co., REALTORS®, Francesca Little
Sold by Little & Co., REALTORS®, Francesca Little
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Listing information courtesy of: Little & Co., REALTORS®

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