15 Mechanics St Active

Tisbury,MA 02575

$ 729000

- Bed

- Bath

- SqFt


Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 73302006

HOA Y/N false

Year Built 1989

Annual Tax Amount $5,134

Tax Year 2024

Lot Size 6,098 Sqft

Acres 0.14

Property Description

Tri Town Commercial Advisors is pleased to present a single-tenant, net-leased cannabis dispensary in the highly sought-after market of Martha’s Vineyard, located in the bustling State Road commercial district, anchored by Cronig’s grocery store. This flagship location features a thriving dispensary tenant who signed a 10-year lease in 2021, with 2.5% annual rent escalations throughout the primary term and option periods, providing steady income growth.The property boasts a prime location in one of New England’s most iconic coastal destinations, drawing in a diverse customer base of both locals and tourists. It’s also within walking distance from the ferry terminal and is situated outside of the flood plain, further enhancing its desirability.The Town of Tisbury is currently installing a sewer line along this stretch of State Road and is in the process of re-writing its zoning by-laws, creating more options for future redevelopment of this property.

Location

State MA

County Dukes

Zoning bus

Direction Google Maps

Exterior

Total Parking Spaces 10

Others

Senior Community false

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