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Ideally located in the vibrant commercial district of Orleans and overlooking scenic Town Cove, this 4, 400+ square foot mixed-use building presents a rare opportunity for investors, developers, or business owners seeking a high-visibility location with tremendous potential. Built in 1840, this property features over 1, 500 SF of street-level retail space, two residential apartments, and generous off-street parking for up to 12 vehicles. With its central location on Route 28, this property benefits from excellent exposure to both foot and vehicle traffic and is just steps from the Orleans Yacht Club, Town Cove, shops and restaurants. The first floor includes a large retail storefront, a half bath, and two sizable rooms in the rear, ideal for office use or additional storage. Upstairs, two separate apartments offer rental income potential or housing flexibility. The front unit includes two bedrooms, a full bath, kitchen, living area, and bonus room; the rear unit features one bedroom, a full bath, kitchen, living room, and a spacious rooftop deck with water views. The walk-out basement includes an additional 600+ SF of finished space, perfect for storage or future expansion. Ample parking is available at both the front and rear of the property. Please note that the property is being sold in as-is condition, there is deferred maintenance and will likely need repairs to bring it up to code.
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,499,999
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 508.740.5922
Frank.Merola@raveis.com
NMLS Mortgage Loan Originator ID 1020051
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,999,999 | $1,999,999 | $1,999,999 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.625% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.739% | 6.183% |
Monthly Tax Payment | $636 | $636 | $636 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $11,356 | $12,806 | $16,877 |
Total Monthly Payment | $12,117 | $13,567 | $17,638 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.