401 Upham Street, Melrose, MA, Massachusetts, property flyer

401 Upham Street, Melrose, MA, 02176 | $1,500,000

CLEAN 21E IN NOVEMBER 2024! This well respected and profitable gas and service station has been a fixture in Melrose since 1929. This is a turn key business that comes with two fully equipped service bays that are presently leased to an established mechanic. Office space with private bath as well as public bath accessible from outside. Additional storage/parking behind the building. Double wall steel tanks installed in 1987 wrapped in between walls with sensor and on the outside of tanks with sensors. 5000 gal regular, 4000 gal regular and 6000 gal super. Buyer to assume Gulf contract with their approval. High profit margin per gallon, great visibility and a loyal clientele is a winning combo.

Features

Utilities: Public Water, Public Sewer
Parking: 10-car
Zoning: SRB

Year Built: 1929
Acreage: 0.18
Est. Taxes: $10,153

MLS#: 73316491
Website: https://www.raveis.com
/prop/73316491/401uphamstreet_melrose_ma?source=qrflyer

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
Listing by The Kim Perrotti Team courtesy of Leading Edge Real Estate

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888.699.8876

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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 81725

203.980.8025

Frank.Kolb@raveis.com

Our Executive Mortgage Banker:

Is available to meet with you in our office, your home or office, evenings or weekends
Offers you pre-approval in minutes!
Provides a guaranteed closing date that meets your needs
Has access to hundreds of loan programs, all at competitive rates
Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction

Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance

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Our Insurance Division:

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401 Upham Street, Melrose, MA, 02176

$1,500,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Kolb

Senior Vice President - Coaching & Strategic

William Raveis Mortgage, LLC

Phone: 203.980.8025

Frank.Kolb@raveis.com

NMLS Mortgage Loan Originator ID 81725

	5/6 (30 Yr) Adjustable Rate Jumbo*	30 Year Fixed-Rate Jumbo	15 Year Fixed-Rate Jumbo
Loan Amount	$1,200,000	$1,200,000	$1,200,000
Term	360 months	360 months	180 months
Initial Interest Rate**	5.500%	6.375%	5.875%
Interest Rate based on Index + Margin	8.125%
Annual Percentage Rate	6.748%	6.474%	6.036%
Monthly Tax Payment	$846	$846	$846
H/O Insurance Payment	$125	$125	$125
Initial Principal & Interest Pmt	$6,813	$7,486	$10,045
Total Monthly Payment	$7,784	$8,457	$11,016

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.