Flexible Storefront
For Sale
$195,000
1-2-58 Central St, Ipswich, MA 01938
Open-plan commercial condominium with updated electrical service and a private restroom.
Property Size462 SF
Price / SF$422.08
Days on Market14
Property Features for 1-2-58 Central St
General Information
Standard status
Active
Size
462 SF
Additional Details
Utilities to Site
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$2,235
Amenities
updated electrical service
private restroom
flexible open layout
Listing Agency:
Aluxety
(978) 580-1932
Listed By:
Jennifer Baraiolo
(978) 580-1932
Source:
Exprealty
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 11 at 12:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Aluxety
Investment Insights
Based on property information with market context.
This 462-square-foot commercial condominium at 1-2-58 Central St offers an open interior that can be arranged for professional, retail, wellness, creative, or service-oriented operations. Updated electrical service and a private restroom are included within the unit, providing practical features for a range of business configurations.
The property is situated in downtown Ipswich near local shops, restaurants, and community amenities. Nearby public parking is available for customers and employees, while the location provides access to the surrounding downtown business environment.
The property is situated in downtown Ipswich near local shops, restaurants, and community amenities. Nearby public parking is available for customers and employees, while the location provides access to the surrounding downtown business environment.
Key Highlights
- 462 square feet of commercial condominium space
- Open layout suitable for professional, retail, wellness, creative, or service‑oriented uses
- Updated electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,877
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$257,540
$257.5K
Cap Rate 7%
$183,957
$184.0K
Cap Rate 9%
$143,078
$143.1K
Market Conditions
NOI Build-Up for 462 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.1K $45.60/SF
− Vacancy
−$3.9K −$8.44/SF
EGI
$17.2K $37.16/SF
− OpEx
−$4.3K −$9.29/SF
NOI
$12.9K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$257,540
Cap Rate 7%
$183,957
Cap Rate 9%
$143,078
Alternative Uses
Best Use
Office B
$184.0K
$161.0K – $214.6K
NOI $12,877 @ 7.0% cap · market cap 6.60%
Second Best
Retail
$108.4K
$94.9K – $126.5K
NOI $7,591 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$273.5K
$239.3K – $319.1K
NOI $19,145 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 01938, MA
13,785
Population
6,270
Households
2.2
Avg Household Size
51
Median Age
57%
College-Educated
98%
High-School Grad
32.1 sq mi
ZIP Area
429
Density / Sq Mi
$124,405
Median Household Income
$62,161
Median Earnings
$1,525
Median Rent
$701,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Open-plan commercial condominium with updated electrical service and a private restroom.
Where is this storefront property located?
The property is located at 1-2-58 Central St Ipswich, MA.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 462 square feet of commercial condominium space; Open layout suitable for professional, retail, wellness, creative, or service‑oriented uses; Updated electrical service
