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$1,999,999
Est. payment /mo
4,500 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,500 sqft
Price per Sqft $444
MLS Listing ID 73380153
HOA Y/N false
Year Built 1920
Annual Tax Amount $24,365
Tax Year 2025
Lot Size 3,920 Sqft
Acres 0.09
Property Description
Fully-tenanted mixed-use corner portfolio consisting of 262 Adams St and 40 Middle St—two separate buildings situated on one lot—offering an exceptional opportunity in Newton's BU2 zoning district. The portfolio includes four residential units and one commercial office space, with gross rental income of $11,650/month. There is potential to expand into a sixth residential unit, subject to city approvals. The commercial tenant is leased through August 2027, while all residential units are Tenant-at-Will, providing flexibility for future rent adjustments or repositioning. All current rents are well below market, offering considerable upside. The properties feature Queen Anne Colonial and Victorian architecture, separate utilities, off-street parking, and close proximity to the Mass Pike, Rt. 95, Whole Foods, YMCA, and public transit—ideal for investors, 1031 exchange buyers, long-term hold strategies, or future development opportunities.
Location
State MA
County Middlesex
Area Nonantum
Zoning BU2
Direction On the corner of Middle St. and Adams St. GPS Friendly.
Exterior
Utilities Available Public Water, Public Sewer
Roof Type Asphalt/Composition Shingles
Total Parking Spaces 4
Others
Senior Community false
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Listed by Shilalis Real Estate
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