Downtown Office
For Sale
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118 Pleasant Street # 21-E, Marblehead, MA 01945
Interior office unit in a renovated mixed-use building with two means of egress.
Property Size120 SF
Price / SF$3.13
Days on Market417
Property Features for 118 Pleasant Street # 21-E
General Information
Standard status
Active
Size
120 SF
Property subtype
Commercial
Zoning
B-1
Lease Type
Net
Building Details
Year Built
1940
Listing Agency:
William Raveis R.E. & Home Services
(781) 631-1199
Listed By:
Debra Goldberg
(781) 771-8189
Source:
Churchillprop
Added: Sep 4, 2025
Changed: Oct 6
Last Checked: Oct 24 at 3:08PM
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 William Raveis R.E. & Home Services
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This interior office unit is located in an established, renovated mixed-use building with professional offices on the first floor. The suite includes two means of egress.
The space is in downtown Marblehead on the bus line, with restaurants and shops nearby and convenient access to historic Old Town.
The unit is approximately 120 square feet and is available beginning January 1, 2026.
The space is in downtown Marblehead on the bus line, with restaurants and shops nearby and convenient access to historic Old Town.
The unit is approximately 120 square feet and is available beginning January 1, 2026.
Key Highlights
- Interior office unit in a renovated mixed‑use building built in 1940
- 120 SF office unit available January 1, 2026
- Two means of egress
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,345
Suggested Prices Based on Cap Rates
Cap Rate 5%
$66,900
$66.9K
Cap Rate 7%
$47,786
$47.8K
Cap Rate 9%
$37,167
$37.2K
Market Conditions
NOI Build-Up for 120 SF
Gross rent
$5.5K $45.60/SF
− Vacancy
−$1.0K −$8.44/SF
EGI
$4.5K $37.16/SF
− OpEx
−$1.1K −$9.29/SF
NOI
$3.3K $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 Rate 5%
$66,900
Cap Rate 7%
$47,786
Cap Rate 9%
$37,167
Alternative Uses
Best Use
Office B
$47.8K
$41.8K – $55.8K
NOI $3,345 @ 7.0% cap · market cap 892.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$71.0K
$62.2K – $82.9K
NOI $4,973 @ 7.0% cap · market cap 1,326.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,316
Businesses Nearby
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Business Placement
Demographics for 01945, MA
20,462
Population
8,899
Households
2.3
Avg Household Size
49
Median Age
77%
College-Educated
99%
High-School Grad
4.4 sq mi
ZIP Area
4,650
Density / Sq Mi
$164,325
Median Household Income
$83,539
Median Earnings
$1,769
Median Rent
$904,700
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Interior office unit in a renovated mixed-use building with two means of egress.
Where is this office unit located?
The property is located at 118 Pleasant Street # 21-E Marblehead, MA.
What are key features of this property?
This property features: Interior office unit in a renovated mixed‑use building built in 1940; 120 SF office unit available January 1, 2026; Two means of egress
