Property is located in an “Opportunity one” allowing tax benefits to investors.
7,980 sq. ft. Free-Standing Multi-Tenanted Building Adjacent to the Cape Cod Mall. Centrally located, approximately 1/10 of a mile off of Route 132 (Iyannough Road), and less than 1/2 mile off of Route 28 (Falmouth Road). Building is adjacent to Michael’s craft store.
This is a wood framed, truss style building that is connected to town water & sewer. There are 34 marked parking spaces in the front & south side, and there is additional, barely used, parking in the back (north) lot. Many recent improvements.
The building is currently divided in to five spaces that are all currently leased. *One of the tenants is going to be vacating and new tenants are currently being vetted. If a buyer gets the property under agreement and requests that the space not be filled, it’s possible that could be worked out. Whereas the units are 800 sq. ft. to 2,500 sq. ft., they are in demand and fairly easy to fill.
Tenants include: Evoke Yoga, Unique Salon & Spa, Dancer’s Place and Crystal Garden Children’s Childcare Center . The space formerly occupied by the cycle business is available for lease and there have been regular showings.
Currently there is gross income of approx. $140,000. and total expenses or (+/-) $26,000. All leases have built in annual increases.
Zoning is (B) Business, which allows for, by right, uses including but not limited to:
Retail trade service or shop, wholesale store/ salesroom, restaurant, office and bank, hair, nail and skin salon, and any other business use of a similar nature.
According to the town of Barnstable GIS system, the property is in a (GP)Groundwater Protection overlay (not a WP), and it is not in a flood zone.
Hyannis is the commercial and transportation hub of Cape Cod.
Enterprise Road is a main connector between Hyannis’s two busiest roads,
Near Enterprise Road, traffic counts on Route 132 range from 26,000 to 35,000 daily.
Traffic counts near Enterprise Road on Route 28 range from 16,500 to 22,000 daily. Traffic counts are from the Cape Cod Commission.
Property has been well maintained over the years. Even with leases that are not NNN this is a money maker. NOI is currently $117,851. Details on financials available only to qualified buyers with signed non-disclosure agreements.