Mixed-Use Restaurant and
57 East Street Ipswich, MA 01938
For Sale
$974,500
Two-level property with an operational kitchen and private-entry apartment above, plus an added storage outbuilding.
Property Size2,419 SF
Price / SF$402.85
Days on Market53
Property Features for 57 East Street
General Information
- Standard status
- Active
- Size
- 2,419 SF
Building Details
- Year Built
- 1909
Listing Agency:
eXp Realty
Listed By:
The North Shore Realty Group
Source:
413realestate
Added: Jun 5
Changed: Jul 6
Last Checked: Jul 27 at 12:26AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial food service setup with a second-floor residence. The first floor features a professional industrial kitchen that is currently configured as a bakery serving lunch and dinner. The second floor includes a two-bedroom, one-bath apartment with a large living room/dining area and a private entrance.
The building is located on East Street in Ipswich and is described as being a short distance to the Ipswich River. The Ipswich River boat launch and park are noted as moments away. The offering also includes an approximately 342 sq. ft. out-building, previously used as a bait shop and currently used for additional storage. Convenient parking and visibility are mentioned in the remarks.
For tenants, buyers, or operators looking for a property that can support food service and a residence in the same location, this configuration may fit a range of concepts consistent with its current use. The presence of the kitchen improvements and the separate apartment entrance can support owner-operator or multi-use operational planning, while the out-building provides practical supplemental storage space.
The building is located on East Street in Ipswich and is described as being a short distance to the Ipswich River. The Ipswich River boat launch and park are noted as moments away. The offering also includes an approximately 342 sq. ft. out-building, previously used as a bait shop and currently used for additional storage. Convenient parking and visibility are mentioned in the remarks.
For tenants, buyers, or operators looking for a property that can support food service and a residence in the same location, this configuration may fit a range of concepts consistent with its current use. The presence of the kitchen improvements and the separate apartment entrance can support owner-operator or multi-use operational planning, while the out-building provides practical supplemental storage space.
Key Highlights
- Two‑level property built in 1909 with a second‑floor 2BR, 1BA apartment with private entrance
- First floor includes a professional industrial kitchen currently set up for high‑volume food service (bakery serving lunch and dinner)
- Property offers multiple use possibilities, including neighborhood bakery/restaurant/convenience store/retail and a package store for wine and malt beverages
Financial Insights For Specialty Retail
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 | $61.0k | $25.20 |
| − Vacancy | −$1.3k | −$0.55 |
| EGI | $59.6k | $24.65 |
| − OpEx | −$14.9k | −$6.16 |
| NOI | $44.7k | $18.48 |
2,419 SF · lease $25.20/SF/yr · vacancy 2.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$638.8K
$558.9K – $745.2K
NOI $44,713 @ 7.0% cap · market cap 4.59%
Second Best
Retail
$567.8K
$496.8K – $662.4K
NOI $39,745 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,243 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ATM Machine at Little ...
Atm
Little River Store ...
Cafe & Coffee Shop
FAQs
What type of property is this?
Conventional restaurant - Two-level property with an operational kitchen and private-entry apartment above, plus an added storage outbuilding.
Where is this conventional restaurant located?
The property is located at 57 East Street Ipswich, MA.
What is the asking price?
The asking price for this property is $974,500.
What are key features of this property?
This property features: Two‑level property built in 1909 with a second‑floor 2BR, 1BA apartment with private entrance; First floor includes a professional industrial kitchen currently set up for high‑volume food service (bakery serving lunch and dinner); Property offers multiple use possibilities, including neighborhood bakery/restaurant/convenience store/retail and a package store for wine and malt beverages
