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SOLD and closed
On Premises at 289-291 Essex St. Lawrence MA
Monday October 15th 10am

4 Story Attached Commercial Building
Zoned B-3 Mixed Use :
Retail - Light Commercial -Office - Apartment

SHOWINGS BY APPOINTMENT:
603-887-6688

Click here for door to door directions to
289-291 Essex St.
 


2 % Cooperative Broker’s Commission

Click Here For Full Terms of Sale and Property Information Package
 

Number of Units: 6-10
Type of Building: 4 Story attached as part of a city block, built in 1940

Gross Building Area: 11,375 sq. ft

Rentable sq. ft. 2,250 +/- sq. ft per floor
4 floors = 9,000 sq. ft.

Types of Units: Retail (1), residential apartments (4), Office (8), Light commercial (3), Private function space (1)

Zoning: B-3 Mixed Use allows all options above

Roof: Flat tar/gravel

Exterior: Solid Masonry (brick) with heavy timber/steel frame

Street, monthly permit garage within one block

Water & Sewer: Public

Heating: Forced hot air
 

Terms of sale: a $10,000 deposit by cashier’s check or certified check with photo identification is required to bid.  (Unsuccessful bidders’ deposits will be returned at the conclusion of the auction.) Closing within 45 days of the Auction.  The property is sold “As Is” subject to all terms of sale.  Sale is subject to a minimum bid of $125,000.  Buyer Broker participation welcome. Please download the bidder’s “Property Information Package” for complete terms of sale, sales contracts and buyer broker registration form.


Description: Please view downloadable “Property Information Package” for details. This is a perfect opportunity for investors and end users alike!

Attend the live auction October 15th and place your bid!
 

Auctioneers Note:  This is a perfect opportunity for investors and end users alike!  The property is currently in stages of renovation and offers the new owner the opportunity to finish to their liking.

The property sits in the City Hall block of Essex Street and in the heat of the Renewal Community Program District, one of 40 national urban areas selected by HUD. Some of the benefits of this program are wage credits, work opportunity credits, welfare to work credits, commercial revitalization deductions, section 179 deductions, 0% capital gains and bond financing and the Storefront Improvement Program that provides up to 75% if the funding on a grant basis to the facade of the building up to a maximum of $40,000.  The program also offers free architectural design assistance. 
 
Bidder Registration: Prospective bidders for the real estate must register with the required deposit between the hours of 9:00 a.m. and 10:00 a.m. on the morning of the auction.
Buyers being represented by a buyer’s agent must register no later than 24 hours prior to the auction.
 

CLICK HERE  for downloadable information describing the Storefront Improvement Grant Program

CLICK HERE to link to the government incentive programs


For detailed program information contact:  Economic Development project manager: Sharon Dubois  (978) 683-4894



 
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