680 Falmouth Rd.
Rte. 28 Mashpee, MA 02649

Phone:

508-989-1943


$2,500,000
38 Center Street
Nantucket, MA 02554
MLS# 21804237
Status: Closed
2881 sqft


38 Center Street
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Property Description
CENTER STAGE! This elegant blue building is perched prominently on Center Street in the heart of Nantucket's core retail/commercial district. Comprised of two retail units through three floors of commercial space, this landmark property also boasts one of downtown's most unique residences overlooking Town and Nantucket Harbor. With enormous display windows and excellent pedestrian and vehicular visibility, this property is ideal for retail use and offers a residential component for staff or separate rental. Each retail unit enjoys its own entrance and oversized display windows fronting on Center Street. The main commercial space is presently leased to Nathan Coe and Illya Kagan's photography and studio; two additional leases are in place so advanced notice is required for showings.

Details
Maps
Documents
Contract Info
Lease Terms: Year
List Price/SqFt: 1058.66
Status: Closed
Original List Price: 3250000
Sold Price: $2,500,000
Current Price: $2,500,000
List Date: 2018-06-11
Legal and Taxes
Town: Nantucket
Village: Nantucket
Estimated Annual Taxes: 9628
Building Assessments: 697200
Other Assessments: 915600
Total Assessment: 1612800
Title Reference - Book: C0016
Title Reference - Page: 976
Flood Ins Required: Not Verified
Lead Base Paint: Unknown
Mass Use Code: 32 - Multiple Use Property
Street #: 38
Street Name: Center
Street Suffix: Street
County: Nantucket
State: MA
Zip Code: 02554
Tax ID: 4231-66
Tax Year: 2018
General Property Info
Region: Nantucket
Primary Sub-Type: Retail
School District: Nantucket
Zoning: RCDT
Renovated: Yes
# of Buildings: 1
Year Renovated: 1984
Stories: 2
Condo: No
Business w/Real Estate: Yes
Lot Size SqFt: 1307
Lot Size Source: Assessor
Acres: 0.03
Waterfront: No
Waterview: Yes
Residential Units: Yes
Commercial Units: Yes
Industrial Units: No
Total Finished Space: 2881
Year Built: 1860
Remarks & Misc
Public Remarks: CENTER STAGE! This elegant blue building is perched prominently on Center Street in the heart of Nantucket's core retail/commercial district. Comprised of two retail units through three floors of commercial space, this landmark property also boasts one of downtown's most unique residences overlooking Town and Nantucket Harbor. With enormous display windows and excellent pedestrian and vehicular visibility, this property is ideal for retail use and offers a residential component for staff or separate rental. Each retail unit enjoys its own entrance and oversized display windows fronting on Center Street. The main commercial space is presently leased to Nathan Coe and Illya Kagan's photography and studio; two additional leases are in place so advanced notice is required for showings.
Directions to Property: From Fisher Real Estate, head up Main Street and take a right on Center Street. It will be on the left.
Status Change Info
Concessions: No
Estimated Selling Date: 2019-01-31
Sold Price/SqFt: 867.75
SP/AV: 1.55
Under Contract Date: 2019-01-15
Sold Date: 2019-02-04
Sold Price: $2,500,000
Special Listing Cond
Broker-Agent/Owner: 1
Basement Description
Finished: 1
Foundation Details
Other: 1
Beach Description
None: 1
Beach Ownership
None: 1
Floors
Carpet: 1
Hardwood: 1
Walls
Plaster: 1
Sheet Rock: 1
Sewer
Public Sewer: 1
Exterior Features
Display Window: 1
Roof Description
Asphalt: 1
Siding Description
Clapboard: 1
Heating
Hot Water: 1
Cooling
None: 1
Fuel Type
Oil: 1
Water
Public: 1
Hot Water
Tankless Water Heater: 1
Hot Water Source
Propane Gas: 1
Property Features
Special Listing Cond: Broker-Agent/Owner
Beach Description: None
Beach Ownership: None
Floors: Carpet; Hardwood
Walls: Plaster; Sheet Rock
Foundation Details: Other
Basement Description: Finished
Roof Description: Asphalt
Siding Description: Clapboard
Heating: Hot Water
Cooling: None
Fuel Type: Oil
Water: Public
Hot Water: Tankless Water Heater
Hot Water Source: Propane Gas
Sewer: Public Sewer
Supplements
Call for more details or to schedule an appointment. First Floor The main floor consists of a large, open retail space with tall ceilings and an enormous 10' X 8' picture window fronting on Center Street, as well as two additional display windows near the spacious front entry. The main floor includes a 16' X 12' show room, several additional display areas, a reception space for a desk/checkout area or additional display, and a separate 11' X 8' work/storage room. The first floor enjoys tremendous ambient light and tall ceilings and is open to the second floor above. Current lease income is $80,000 but has been as high as $110,000 per year. (Owner pays heat and taxes) Second Floor A wide, split staircase, leads to the second floor retail space which is also bright and airy, with several retail display areas. This floor has a half bathroom and a separate storage room with sink and refrigerator. (Same lease as first floor). Third Floor The third floor apartment is one of the most unique pied-a-terres in Town as it has a spacious outdoor deck overlooking all of Town and Nantucket Harbor. The apartment is accessed by a separate set of stairs with front entry on Center Street. It consists of a one bedroom apartment with an open living room with skylight. The living room opens to the spacious outdoor deck with room for an outdoor seating/dining area. There is a small kitchen, full bath and bedroom. The apartment currently generates $26,400 in annual income. Basement The lower level retail space is hardly what you might think of for a lower level as it includes a sizable 3' X 6' picture window and front entry right on Center Street, perfect for inviting passersby. The main show room is approximately 19' X 18' and there is a separate, 21' X 10' office/storage area. Current lease provides annual income of $30,000.

IDX
Listing Office: Fisher Real Estate
Listing Agent: Jen C Shalley Allen

Last Updated: September - 28 - 2024

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