One of the best-known properties in Jamaica Plain is on the market. The multi-family property at 378 Centre St., which has The Brendan Behan Pub, was put up for sale in early January, according to a listing by Coldwell Banker. The asking price? A cool $2,995,000.
The property is in the heart of Hyde Square. It also is home to the first location of Tails, a locally-owned pet supply and services business that has also expanded across the street. Pikalo, which serves fusion empanadas, also rents a corner of the building that has hosted several different restaurants in recent years.
The listing for the property touts not only its location but also the building’s tenants good record of paying rent.
“Strong commercial tenants with strong rental history paying net rents with multiple years remaining on leases,” read the listing. “(Tenants pay most of the real estate tax bill, insurance and water/sewer bill for the building keeping landlord expenses low).”
The property includes not only the commercial spaces but also residential units.
The prospect of a new owner being able to raise rents is part of the pitch made in the listing.
“Combines strong retail with great residential and prime location and room for increased rents (plus automatic increases in commercial leases over time!),” reads the listing.
We’ve reached out to several stakeholders and are contacting more. We’ll update this story once we know more. Meanwhile, the listing is worth a close read.