1019 Iyannough Road Hyannis

$2,500,000
Sold
SQUARE FEET
29644

The space

  • Land Size: 1.47
  • Year Built: 1982
  • use / Zoning: Split HB/ B
  • Heat: Central Air Conditioning, Forced Hot-Air, Electric
  • Interior Features: Elevator, First Floor, Second Floor, High Speed Internet Available
  • Exterior Features: Ample Parking, Nicely Landscaped, Easy Access, Signage Available, Visibility

Amenities

  • Free Standing
  • Mixed Use
  • Multi-Tenanted
  • Office
  • Town Sewer
  • Town Water
  • Wood Frame

Description

SOLD BY ALI MALONEY! 29,644 sq.ft. mixed-use building. When fully leased this is a cash cow. Currently, 3,000 sf in the front is rented for retail. The rest of the space has historically been leased for professional offices. Many uses are allowed. Large, common foyer at main entrance provides access to units 3-5 and units 7-12. Unit 6 has its own entrance, as does the retail store in the front (units 1 + 2). Elevator access to second floor. 1,500 sq. ft. on first floor is owner occupied. Three adjoining units on the second floor were just recently vacated and are currently being marketed to new tenants. Currently, with more than 40% of the leasable space vacant, the NOI is $172,398. Once those vacancies are filled, NOI should grow to be $356,861. These leases are gross plus utilities. New owner will have the added option of, over time, converting leases to NNN which, based on current figures, could grow NOI to $462,861. Separate utility systems/ meters for all units. Well maintained building with town water and sewer. Outstanding visibility across from Hyannis Toyota and Whole Foods. Walk to Cape Cod Mall and all shopping. Property consists of two parcels totaling 1.47 acres (1019 Iyannough & 31 Pepper Lane- extra parking lot in rear). Possibility of converting the 9,000sf + to residential apartments.

Contact the Agent

Ali Maloney

Owner Broker

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