5 & 11 Washington Street
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 1, 2023 | Sold | ||
| Sold | |||
| Jan 19, 2021 | Listed by WC Residential Realty, LLC | $1,500,000 | |
| Listed by WC Residential Realty, LLC | |||
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Existing car wash w/ retail unit represents 3,800 sf footprint on 29,020 sf lot w/ adjacent 6,030 sf vacant lot within Ipswich’s General Business zoning district. Combined offers 0.80 acres (35,050sf lot) w/ approximately 383 ft frontage. Table of use regulations allows both “multi-family residential development” and “residential mixed-use” with Planning Board Special Permit and additional noted requirements. Upon town approval, a minimum of nine (9) residential rental or condo units; or fourteen (14) mixed units representing both residential and business use. Centrally located in desirable historic downtown Ipswich, only 0.3 miles from MBTA Commuter Rail & steps to fine dining, retail shops, parks, schools, etc. 21E & updated survey in process. Car wash owned/operated by seller. Financials available upon signing NDA. Second commercial unit fully occupied w/ Detail Car Business & interested in continuing long-term lease. Offer Deadline: Tuesday, Jan. 26, 2021 @ 5pm.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017