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Beachfront Condo Development Opportunity 706 Shore Rd 42 Unit Apartment Building $21,999,000 ($523,786/Unit) North Truro, MA 02652
INVESTMENT HIGHLIGHTS
- Redevelopment Opportunity
- Location Location Location
- Beach Access
EXECUTIVE SUMMARY
This 2.3-acre beachfront property has been operated as a resort for decades ( and still can be)and includes 44 units totaling 17,602 square feet. The owners have started construction on the "BeachFront" wing for 9 new condo units. On the east side of the property is a new 2,200 square foot wood-framed recreation building connected to 15 seasonal units that require a full gut renovation. The complex features 2 pools—1 indoor and 1 outdoor—a garage, and direct beach access. It is located near the National Seashore, approximately 2 miles from the center of Provincetown, with the nearby Provincetown Marina recently upgraded to world-class standards. Complete the site and rent or sell each unit individually. The property, excluding the west wing, is available for $14,000,000. There is a significant opportunity for redevelopment. Contact us for a tour.
PROPERTY FACTS
| Price | $21,999,000 | Apartment Style | Garden |
| Price Per Unit | $523,786 | Building Class | B |
| Sale Type | Investment | Lot Size | 2.30 AC |
| Sale Condition | Redevelopment Project | Building Size | 39,710 SF |
| No. Units | 42 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | ||
| Zoning | LB BEA - Commercial | ||
| Price | $21,999,000 |
| Price Per Unit | $523,786 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.30 AC |
| Building Size | 39,710 SF |
| No. Stories | 2 |
| Year Built | 1950 |
| Zoning | LB BEA - Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Pool
PROPERTY TAXES
| Parcel Number | TRUR-000001-000000-000005 | Improvements Assessment | $4,150,700 |
| Land Assessment | $0 | Total Assessment | $4,150,700 |
PROPERTY TAXES
Parcel Number
TRUR-000001-000000-000005
Land Assessment
$0
Improvements Assessment
$4,150,700
Total Assessment
$4,150,700
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Beachfront Condo Development Opportunity | 706 Shore Rd
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