38 Center Street, Nantucket, MA 02554 (MLS# 21804237)

38 Center Street, Nantucket, MA 02554

$2,500,000
Property Type: Commercial Square Footage: 2,881 Lot Size (sq. ft.): 1,307 Status: Closed
Current Price: $2,500,000 List Date: 1/02/2019 Last Modified: 9/28/2024

Description

CENTER STAGE! This elegant blue building is perched prominently on Center Street in the heart of Nantucket's core retail/commercial district. Comprised of two retail units through three floors of commercial space, this landmark property also boasts one of downtown's most unique residences overlooking Town and Nantucket Harbor. With enormous display windows and excellent pedestrian and vehicular visibility, this property is ideal for retail use and offers a residential component for staff or separate rental. Each retail unit enjoys its own entrance and oversized display windows fronting on Center Street. The main commercial space is presently leased to Nathan Coe and Illya Kagan's photography and studio; two additional leases are in place so advanced notice is required for showings.

Supplements: Call for more details or to schedule an appointment. First Floor The main floor consists of a large, open retail space with tall ceilings and an enormous 10' X 8' picture window fronting on Center Street, as well as two additional display windows near the spacious front entry. The main floor includes a 16' X 12' show room, several additional display areas, a reception space for a desk/checkout area or additional display, and a separate 11' X 8' work/storage room. The first floor enjoys tremendous ambient light and tall ceilings and is open to the second floor above. Current lease income is $80,000 but has been as high as $110,000 per year. (Owner pays heat and taxes) Second Floor A wide, split staircase, leads to the second floor retail space which is also bright and airy, with several retail display areas. This floor has a half bathroom and a separate storage room with sink and refrigerator. (Same lease as first floor). Third Floor The third floor apartment is one of the most unique pied-a-terres in Town as it has a spacious outdoor deck overlooking all of Town and Nantucket Harbor. The apartment is accessed by a separate set of stairs with front entry on Center Street. It consists of a one bedroom apartment with an open living room with skylight. The living room opens to the spacious outdoor deck with room for an outdoor seating/dining area. There is a small kitchen, full bath and bedroom. The apartment currently generates $26,400 in annual income. Basement The lower level retail space is hardly what you might think of for a lower level as it includes a sizable 3' X 6' picture window and front entry right on Center Street, perfect for inviting passersby. The main show room is approximately 19' X 18' and there is a separate, 21' X 10' office/storage area. Current lease provides annual income of $30,000.

More Information MLS# 21804237

Contract Info

Lease Terms: Year List Price/SqFt: 1058.66 Status: Closed Original List Price: 3250000 Sold Price: $2,500,000 Current Price: $2,500,000 List Date: 2018-06-11

Legal and Taxes

Town: Nantucket Village: Nantucket Estimated Annual Taxes: 9628 Building Assessments: 697200 Other Assessments: 915600 Total Assessment: 1612800 Title Reference - Book: C0016 Title Reference - Page: 976 Flood Ins Required: Not Verified Lead Base Paint: Unknown Mass Use Code: 32 - Multiple Use Property Street #: 38 Street Name: Center Street Suffix: Street County: Nantucket State: MA Zip Code: 02554 Tax ID: 4231-66 Tax Year: 2018

General Property Info

Region: Nantucket Primary Sub-Type: Retail School District: Nantucket Zoning: RCDT Renovated: Yes # of Buildings: 1 Year Renovated: 1984 Stories: 2 Condo: No Business w/Real Estate: Yes Lot Size SqFt: 1307 Lot Size Source: Assessor Acres: 0.03 Waterfront: No Waterview: Yes Residential Units: Yes Commercial Units: Yes Industrial Units: No Total Finished Space: 2881 Year Built: 1860

Remarks & Misc

Public Remarks: CENTER STAGE! This elegant blue building is perched prominently on Center Street in the heart of Nantucket's core retail/commercial district. Comprised of two retail units through three floors of commercial space, this landmark property also boasts one of downtown's most unique residences overlooking Town and Nantucket Harbor. With enormous display windows and excellent pedestrian and vehicular visibility, this property is ideal for retail use and offers a residential component for staff or separate rental. Each retail unit enjoys its own entrance and oversized display windows fronting on Center Street. The main commercial space is presently leased to Nathan Coe and Illya Kagan's photography and studio; two additional leases are in place so advanced notice is required for showings. Directions to Property: From Fisher Real Estate, head up Main Street and take a right on Center Street. It will be on the left.

Status Change Info

Concessions: No Estimated Selling Date: 2019-01-31 Sold Price/SqFt: 867.75 SP/AV: 1.55 Under Contract Date: 2019-01-15 Sold Date: 2019-02-04 Sold Price: $2,500,000

Special Listing Cond

Broker-Agent/Owner: 1

Basement Description

Finished: 1

Foundation Details

Other: 1

Beach Description

None: 1

Beach Ownership

None: 1

Floors

Carpet: 1 Hardwood: 1

Walls

Plaster: 1 Sheet Rock: 1

Sewer

Public Sewer: 1

Exterior Features

Display Window: 1

Roof Description

Asphalt: 1

Siding Description

Clapboard: 1

Heating

Hot Water: 1

Cooling

None: 1

Fuel Type

Oil: 1

Water

Public: 1

Hot Water

Tankless Water Heater: 1

Hot Water Source

Propane Gas: 1

Property Features

Special Listing Cond: Broker-Agent/Owner Beach Description: None Beach Ownership: None Floors: Carpet; Hardwood Walls: Plaster; Sheet Rock Foundation Details: Other Basement Description: Finished Roof Description: Asphalt Siding Description: Clapboard Heating: Hot Water Cooling: None Fuel Type: Oil Water: Public Hot Water: Tankless Water Heater Hot Water Source: Propane Gas Sewer: Public Sewer

Documents

Listing Office: Fisher Real Estate
Listing Agent: Jen C Shalley Allen
IDX
Last Updated: September - 28 - 2024
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