Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Brick Office and Retail Building Title is generated by Realmo AI

    29 N Main St Ipswich, Ipswich, MA 01938

    View on Map
    Claim this Listing
    New
    For Sale
    $795,000

    Downtown brick building with multiple professional offices, an operating retail bakery, and two off-street parking spaces.

    Property size:
    3,531 SF
    Price / SF:
    $225/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 1:48 am

    Property Features for 29 N Main St Ipswich

    General Information

    Standard status
    Active
    Size
    3,531 SF

    Building Details

    Year Built
    1850

    We can help!

    Listing Contact
    Amanda Lucido Hodges

    Listing agent Amanda Lucido Hodges

    Listing office

    Listing date Jun 3, 2026

    Source Bournetosellrealestate

    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 Amanda Lucido Hodges

    HighLights

    • Built in 1850, this brick downtown building was originally the Essex County Probate Court and Registry
    • Currently includes several professional offices plus an operating retail bakery with leases in place
    • Leased bakery provides current income, per listing remarks
    • Recent building updates include a gas furnace (2025), new AC units (all new in last 5 years), and new windows on the rear and west side
    • Includes 2 off‑street parking spaces
    • Located at 29 North Main Street in Ipswich’s downtown district near the MBTA

    Overview

    The Odd Fellows Hall at 29 North Main Street is an iconic brick building with a long history in Ipswich’s downtown. The property includes several professional office spaces and a very popular retail bakery with leases in place. Recent building system updates include a gas furnace installed in 2025, new AC units installed within the last five years, and new windows on the rear and west side of the building. The offering also includes two off-street parking spaces.

    The building is located in Ipswich’s downtown district near the MBTA and is surrounded by retail and residential buildings, the public library, and several churches.

    With a mix of professional office space and an income-producing retail tenant, this property can fit buyers and operators looking for a downtown, multi-use commercial building with documented in-place leases and defined off-street parking.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Ipswich
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8357783
    Latitude
    42.6808172

    Nearby Similar for Sale

    • $820,000

      Historic Mixed-Use Building in Ipswich

      Iconic building with retail and office space in vibrant downtown.
      29 N Main St, Ipswich, MA 01938
      View Details
    • $950,000
      8,623 SF

      Ipswich Mixed-Use Investment Opportunity

      Mixed-use property in downtown Ipswich with retail and office spaces.
      47 S Main St, Ipswich, MA 01938
      View Details
    • $835,000
      6,480 SF

      Ipswich Retail Investment Opportunity

      Downtown Ipswich retail property with three units and investment potential.
      41 S Main St, Ipswich, MA 01938
      View Details
    • $219,000

      Ipswich Flex Space Condo Unit

      Flex condo unit suitable for various business or personal uses.
      6 Old Essex Rd. #5, Ipswich, MA 01938
      View Details
    • $950,000
      8,623 SF

      Downtown Mixed-Use Retail and Offices

      Ground-floor retail with four office units above, offering a combined owner-user or investment configuration in downtown Ipswich.
      47 S Main St, Ipswich, MA, MA 01938
      View Details
    • $835,000
      6,480 SF

      Ipswich Retail Investment Opportunity

      Downtown Ipswich retail property with three units and income potential.
      41 S Main St, Ipswich, MA, MA 01938
      View Details
    • $595,000
      1,628 SF

      Ipswich Flex Space with Office

      Flex space with office, suitable for various trades.
      6 Old Essex Rd. #6, Ipswich, MA 01938
      View Details
    • $545,000

      Ipswich Flex Space with Office

      Flex space with office, suitable for various business uses.
      6 Old Essex Rd. 6, Ipswich, MA 01938
      View Details
    • $195,000
      462 SF

      Commercial Condo in Downtown Ipswich

      462 sq ft commercial condo with private entrance and parking.
      58 Central St #1-2, Ipswich, MA 01938
      View Details
    • $820,000
      3,531 SF

      Historic Mixed-Use Building in Ipswich

      Iconic building with retail and office space in downtown Ipswich.
      29 N Main St, Ipswich, MA 01938
      View Details
    • $820,000
      3,531 SF

      Historic Mixed-Use Building in Ipswich

      Iconic building with retail and office space in downtown Ipswich.
      29 N Main Street, Ipswich, MA 01938
      View Details
    • $235,000
      827 SF

      Ipswich Flex Space Unit

      Flex space unit with garage bay, storage, and office.
      6 Old Essex Rd. #5, Ipswich, MA 01938
      View Details

    FAQs

    What type of property is this?
    Office building - Downtown brick building with multiple professional offices, an operating retail bakery, and two off-street parking spaces.
    Where is this office building located?
    The property is located at 29 N Main St Ipswich Ipswich, MA.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: Built in 1850, this brick downtown building was originally the Essex County Probate Court and Registry; Currently includes several professional offices plus an operating retail bakery with leases in place; Leased bakery provides current income, per listing remarks
    (508) 643-8166
    We can help!
    Listing Contact
    Amanda Lucido Hodges
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    29 N Main St, Ipswich, MA, MA 01938
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!