Property Description

Rare opportunity to own a retail/office condominium in the heart of downtown Watertown! Unit #106 at 51 Depot Street is a 588 SF commercial condo located within Depot Square Mall - a thriving mixed-use center situated between Route 63 (Main Street) and Route 6, carrying a combined 24,300 vehicles per day. Offered at $69,900, carrying costs are exceptionally low with annual taxes of just $1,504 and condo fees of $179.10/month. Investment Highlights: At $20/SF market rent, this unit projects a 9.91% cap rate and a 15.70% cash-on-cash return at 25% down (7.0%, 30-year financing) - an exceptional return profile at this price point. One of the only units in Depot Square Mall with a private in-unit bathroom - a significant advantage for any service or wellness-based business. Formerly operated as a hair salon, the space is ideally suited for a variety of owner-occupant uses including hair/nail salon, barbershop, massage or skincare studio, tattoo studio, chiropractic or counseling office, photography studio, or any professional service office use. Flexible commercial zoning supports office, retail, and business uses. Frame and brick construction (1985), concrete foundation and flooring. Business not included. For full financial analysis, demographics, traffic counts, and market data, see the attached Offering Memorandum. Buyer to verify all information and conduct independent due diligence including review of condo association documents.

Property Features