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Town- 38 Center Street

Property ID : 83950
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$3,050,000
Total Rooms: 6
Total Beds: 1
Total Baths: 1
Lot Size: 0.03 acres
Year Built: 1860
Zoning: CDT
Secondary Dwelling: None
Water Views: Distant Harbor
Water Frontage: None

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. 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.

Listed By: Fisher Real Estate

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