Corner Office Suite with
For Sale
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118 Pleasant Street # 21B, Marblehead, MA 01945
Bright front-corner office suite in a mixed-use building on the bus line, with a sink and street-facing windows.
Property Size264 SF
Price / SF$3.11
Days on Market345
Property Features for 118 Pleasant Street # 21B
General Information
Standard status
Active
Size
264 SF
Property subtype
Commercial
Zoning
B1
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: Nov 14, 2025
Changed: Oct 6
Last Checked: Oct 24 at 1:59PM
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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Investment Insights
Based on property information with market context.
This front-corner office suite is located in a mixed-use building and includes a sink. The space features high ceilings and a bow-front window facing the street, complemented by two oversized windows on the adjacent wall for a bright interior.
Positioned on the bus line in downtown Marblehead, the suite is close to historic Old Town and situated across from the Warwick Theater. Restaurants and stores are nearby, supporting a walkable day-to-day environment for office users.
The suite’s primary frontage is oriented to the street, with additional windowing along the adjacent wall, creating strong natural light throughout the day.
Positioned on the bus line in downtown Marblehead, the suite is close to historic Old Town and situated across from the Warwick Theater. Restaurants and stores are nearby, supporting a walkable day-to-day environment for office users.
The suite’s primary frontage is oriented to the street, with additional windowing along the adjacent wall, creating strong natural light throughout the day.
Key Highlights
- 264 sq.ft. front‑corner office suite in a mixed‑use building
- On the bus line and close to historic Old Town in downtown Marblehead
- Street‑facing bow front window plus two oversized adjacent‑wall windows for strong natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,358
Suggested Prices Based on Cap Rates
Cap Rate 5%
$147,160
$147.2K
Cap Rate 7%
$105,114
$105.1K
Cap Rate 9%
$81,756
$81.8K
Market Conditions
NOI Build-Up for 264 SF
Gross rent
$12.0K $45.60/SF
− Vacancy
−$2.2K −$8.44/SF
EGI
$9.8K $37.16/SF
− OpEx
−$2.5K −$9.29/SF
NOI
$7.4K $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%
$147,160
Cap Rate 7%
$105,114
Cap Rate 9%
$81,756
Alternative Uses
Best Use
Office B
$105.1K
$92.0K – $122.6K
NOI $7,358 @ 7.0% cap · market cap 897.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$156.3K
$136.8K – $182.3K
NOI $10,940 @ 7.0% cap · market cap 1,334.15%
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 - Bright front-corner office suite in a mixed-use building on the bus line, with a sink and street-facing windows.
Where is this office unit located?
The property is located at 118 Pleasant Street # 21B Marblehead, MA.
What are key features of this property?
This property features: 264 sq.ft. front‑corner office suite in a mixed‑use building; On the bus line and close to historic Old Town in downtown Marblehead; Street‑facing bow front window plus two oversized adjacent‑wall windows for strong natural light
