393 Route 28, Dennis Port, MA 02639 (MLS# 22205983)

393 Route 28, Dennis Port, MA 02639

$3,000,000
Property Type: Commercial Square Footage: 10,727 Lot Size (sq. ft.): 55,321 Status: Closed
Current Price: $3,000,000 List Date: 10/06/2023 Last Modified: 9/29/2024

Overview

Description

This is a great opportunity to buy this 27 unit motel zoned mixed use in a great location with a NOI of $387K 12% CAP Rate. Just minutes away from the beach and activities and situated in the heart of Cape Cod. Opened in 1957 with 26 one bedroom units, conveniently located on the ground floor with easy access plus a separate 3 bedroom unit on the second floor above the office/sweet. All units are non smoking and contain one or two beds with a sleek modern décor, with a king or 2 queen beds. Seller is willing to do a lease back. A portion of Seller Financing may also be available.

Listing Details MLS# 22205983

Contract Info

Original List Price
3200000
List Price/SqFt
279.2

Legal and Taxes

Street #
393
Street Name
Route 28
County
Barnstable
Town
Dennis
Village
Dennis Port
State
MA
Zip Code
02639
Tax ID
73-14-0
Estimated Annual Taxes
6658
Tax Year
2022
Building Assessments
787500
Other Assessments
22600
Total Assessment
1189000
Title Reference - Book
(184077)
Lead Base Paint
Unknown
Flood Ins Required
No
Mass Use Code
10 - Multiple Use Property

General Property Info

Region
Mid-Cape
Primary Sub-Type
Hotel/Motel
School District
Dennis-Yarmouth
Zoning
LC Plan 27
# of Buildings
2
Stories
2
# of Units
27
Total Finished Space
10727
Field Card SqFt
9434
Additional Finished Space
1293
Additional SqFt Source
Public Records
Condo
No
Year Built
1947
Renovated
Yes
Year Renovated
2018
Business w/Real Estate
Yes
Lot Size SqFt
55321
Lot Size Source
Assessor
Acres
1.27
Waterfront
No
Waterview
No
Residential Units
No
Commercial Units
No
Industrial Units
No
Property Includes Recording Devices
No

Status Change Info

Concessions
No
Estimated Selling Date
2023-11-17
Under Contract Date
2023-11-10
Sold Date
2023-11-20
Sold Price/SqFt
279.67
SP/AV
2.52

Business Includes

Business Includes Comments
Land, Building and Interior decor
Business Name
Yes

Convenient To

Convenient to Water Body 1
South Vlg Rd Beach
Cape Cod Rail Trail
Yes
Conservation Area
Yes
Golf Course
Yes
House of Worship
Yes
In Town Location
Yes
Major Highway
Yes
Marina
Yes
Medical Facility
Yes
Public Tennis
Yes
School
Yes
Shopping
Yes

More Information

Remarks & Misc

Public Remarks
This is a great opportunity to buy this 27 unit motel zoned mixed use in a great location with a NOI of $387K 12% CAP Rate. Just minutes away from the beach and activities and situated in the heart of Cape Cod. Opened in 1957 with 26 one bedroom units, conveniently located on the ground floor with easy access plus a separate 3 bedroom unit on the second floor above the office/sweet. All units are non smoking and contain one or two beds with a sleek modern décor, with a king or 2 queen beds. Seller is willing to do a lease back. A portion of Seller Financing may also be available.
Directions to Property
Main St (RT28) Dennis Port

Special Listing Cond

Real Estate Owned
Yes

Security Features

Closed Circuit Camera(s)
Yes

Location Description

West of Route 6
Yes

Lot Features

Easements
Yes
Fenced/Enclosed
Yes
Level
Yes

Basement Description

Full
Yes

Building/Business

Years Established
1957

Present Use

Hotel/Motel
Yes

Parking Features

Driveway
Yes
Paved
Yes

Foundation Details

Slab
Yes

Beach Description

None
Yes

Beach Ownership

None
Yes

Floors

Carpet
Yes

Walls

Paneled
Yes
Sheet Rock
Yes

Utilities

Cable
Yes
Electricity
Yes
Gas
Yes
High Speed Internet
Yes

Sewer

Private Sewer
Yes

Building Const

Wood Frame
Yes

Fencing

Fenced
Yes

Roof Description

Asphalt
Yes

Siding Description

Aluminum Siding
Yes
Vinyl Siding
Yes

Heating

Electric
Yes

Cooling

Other
Yes

Fuel Type

Natural Gas
Yes
Oil
Yes

Water

Public
Yes

Hot Water

Water Heater
Yes

Hot Water Source

Oil
Yes

Seasonal

Year Round
Yes

Gas

On Site
Yes

Owner Living Qtrs

1 Bath
Yes
1 Bedroom
Yes

Property Features

Special Listing Cond: Real Estate Owned Security Features: Closed Circuit Camera(s) Location Description: West of Route 6 Present Use: Hotel/Motel Business Includes: Business Name Lot Features: Easements; Fenced/Enclosed; Level Parking Features: Driveway; Paved Beach Description: None Beach Ownership: None Convenient To: Cape Cod Rail Trail; Conservation Area; Golf Course; House of Worship; In Town Location; Major Highway; Marina; Medical Facility; Public Tennis; School; Shopping Floors: Carpet Walls: Paneled; Sheet Rock Foundation Details: Slab Basement Description: Full Building Const: Wood Frame Fencing: Fenced Roof Description: Asphalt Siding Description: Aluminum Siding; Vinyl Siding Heating: Electric Cooling: Other Fuel Type: Natural Gas; Oil Water: Public Hot Water: Water Heater Hot Water Source: Oil Seasonal: Year Round Utilities: Cable; Electricity; Gas; High Speed Internet Sewer: Private Sewer Gas: On Site Owner Living Qtrs: 1 Bath; 1 Bedroom
IDX
Listing Office: The Zenkin Realty Group, LLC
Listing Agent: Walter Zenkin
Last Updated: September - 29 - 2024
All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Cape Cod & Islands Multiple Listing Service, Inc. Detailed information about real estate listings held by brokerage firms other than CC&I Assoc. of REALTORS, Inc include the name of the listing company. Neither the listing company nor CC&I Assoc. of REALTORS, Inc shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. This site was last updated 02/14/2017. All properties are subject to prior sale, changes, or withdrawal. Copyright 2020© Cape Cod & Islands Multiple Listing Service, Inc. All rights reserved