5 Pleasant St, Methuen, MA 01844



Type of Comm.
Lot Size
We are pleased to present for sale this Investment or Redevelopment opportunity in the heart of the Methuen, MA business district, widely known as the Historic Red Tavern. Over 20,000sf of office and restaurant space in the current building, situated on a .4 acre city lot. The opportunity that exists is for either redevelopment of this parcel, or the current investment use, which features an established tenant roster, with the anchor tenant being Mi Mexico Lindo restaurant. Conveniently located in close proximity to I-93 and I-495. Significant vehicle and pedestrian traffic. This complex has 3 stories and over 40 parking spots. There is a common kitchen. There are 5 common restrooms as well as 3 private full baths. The building is currently over 85% occupied and grosses over $155,000 in annual income. This parcel can be combined the adjacent property at 275 Broadway.
Open House
No scheduled Open Houses
Lot Size: 18,305.00
Acres: 0.42
List Price: $1,549,000
Type: Commercial
Type of Comm.: Commercial
Status: Active
Restrooms: 11
Stories: 3
Buildings: 1
Total Units: 13
Total Sq. Ft.: 20,974
Year Built: 1900
Approx. GLA: 20,974
MLS#: 72194100
Acres: 0.42
Lot Size: 18,305.00
Parking Spaces: 40
Parking Features: 11-20 Spaces
Construction: Frame
Roof Material: Asphalt/Composition Shingles
Location: Downtown, Historic, Free Standing, Interstate, Highway Access, Public Transportation, Central Business District
Utilities: Public Water, Public Sewer, Natural Gas, 110 Volts, 220 Volts
Short Sale Lender Approval: No
Lender Owned: No
21E On File: No
Assessed Building Value: $756,400
Assessed Land Value: $114,900
Exchange: No
Taxes: $23,673
Tax Year: 2017
Book/Page: 11040/294
Sublet: No
Total Assesed Value: $871,300
Zone Description: Legal Conforming
Office Sq. Ft.: 15,974
Office Units: 12
Retail Sq. Ft.: 5,000
Retail Units: 1
Disclosure Declaration: No
For Lease: No
Space Available: For Sale
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The listing office is Keller Williams Realty and the listing agent is Faulkner & Associates. The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and it's subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein. The data was last modified on 10/20/2017 8:05:00 AM.
Marianne Avila
Marianne Avila
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