Lawrence Mixed-Use Multifamily
82 South Broadway Lawrence, MA 01843
82 South Broadway, Lawrence, MA, 01843
$2,995,000
For Sale
$2,995,000
41-unit mixed-use property with commercial and SRO units.
Property Size17,706 SF
Price / SF$169.15
Days on Market238
Property Features for 82 South Broadway
General Information
- Standard status
- Active
- Size
- 17,706 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing Agency
New England Realty Advisors LLC
(781) 334-8044
Listed by
Brad Carlson · License #MA #9584876
Source
Nerealtyadvisors
Added: Nov 25, 2025 Updated: Jul 6 at 10:53 am Checked: Jul 19 at 3:42 am
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 New England Realty Advisors LLC
Investment Insights
Based on property information with market context.
The South Broadway Rooms, located at 82 S Broadway in Lawrence, MA, is a mixed-use multifamily property available for purchase. The property includes 3 commercial units and 38 SRO (single room occupancy) units. Situated on 0.16 acres, the building has 17,706 square feet of living area within a 24,502 square foot gross area. The property has been well-maintained, with a new roof, a new heating system, and a state-of-the-art security system. All upgrades to the building have been completed within the past 3 years. The property is located on the south side of Lawrence, providing access to Boston via Interstates 93 and 495, MA Route 28, and The Lawrence Train Station with service on the MBTA’s Haverhill Line, located 0.6 miles away. Local retail establishments, eateries, grocery stores, and parks are within walking distance. Lawrence, Massachusetts, is known for its industrial heritage and multicultural environment. The city's former mill buildings have been converted into residential lofts, commercial spaces, and educational centers. The area is a dense, walkable urban environment. This property presents a value-add opportunity in a high-demand and supply-constrained market with below-market rents.
Key Highlights
- New roof, new heating system, and state‑of‑the‑art security system recently upgraded.
- Mixed‑use multifamily property featuring 41 units (3 commercial, 38 SRO).
- Well‑positioned with direct access to Boston via multiple routes and the Lawrence Train Station.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $509.9k | $28.80 |
| − Vacancy | −$20.4k | −$1.15 |
| EGI | $489.5k | $27.65 |
| − OpEx | −$220.3k | −$12.44 |
| NOI | $269.2k | $15.21 |
17,706 SF · lease $28.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Retail
$4.16M
$3.64M – $4.85M
NOI $290,917 @ 7.0% cap · market cap 9.71%
Second Best
Apartment 5plus
$3.85M
$3.37M – $4.49M
NOI $269,245 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$10.48M
$9.17M – $12.23M
NOI $733,732 @ 7.0% cap · market cap 24.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Committee To Elect David ...
Advocacy Group
Rinconcito ecuatorian market
Grocery & Convenience Store
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FAQs
What type of property is this?
Apartment building - 41-unit mixed-use property with commercial and SRO units.
Where is this apartment building located?
The property is located at 82 South Broadway Lawrence, MA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: New roof, new heating system, and state‑of‑the‑art security system recently upgraded.; Mixed‑use multifamily property featuring 41 units (3 commercial, 38 SRO).; Well‑positioned with direct access to Boston via multiple routes and the Lawrence Train Station.
