Highway Business Development
New
For Sale
$999,000
Pending
140 High Street, Ipswich, MA 01938
HB zoning allows a range of commercial and mixed-use development options, subject to site-plan review.
Property Size1,615 SF
Days on Market5
Property Features for 140 High Street
General Information
Standard status
Pending
Size
1,615 SF
Property subtype
Commercial
Zoning
HB
Taxes and HOA fees
Annual Taxes
$7,246
Building Details
Building Size
1,615 SF
Year Built
1955
Listing Agency:
Churchill Properties
(978) 998-4656
Listed By:
Linda C. Szydlo
(978) 828-1282
Source:
Isosrealty
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 3:26AM
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 Churchill Properties
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Investment Insights
Based on property information with market context.
This approximately 1-acre commercial land parcel at 140 High Street is zoned HB (Highway Business). The zoning allows uses that include medical and professional offices, restaurants with indoor seating, hotels and motels, mini-storage, and residential formats such as multifamily and condominiums. Specific site plans are subject to review by the Town Planning Board.
The property is on Route 133, between Ipswich High/Middle School and Ipswich Shopping Plaza. Route 1 and downtown Ipswich are accessible from the site. The parcel contains 43,400 square feet.
The property is on Route 133, between Ipswich High/Middle School and Ipswich Shopping Plaza. Route 1 and downtown Ipswich are accessible from the site. The parcel contains 43,400 square feet.
Key Highlights
- Approximately 1 acre, or 43,400 square feet
- HB (Highway Business) zoning
- On Route 133 between Ipswich High/Middle School and Ipswich Shopping Plaza
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,704
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,080
$654.1K
Cap Rate 7%
$467,200
$467.2K
Cap Rate 9%
$363,378
$363.4K
Market Conditions
NOI Build-Up for 1,615 SF
Gross rent
$58.1K $36.00/SF
− Vacancy
−$5.8K −$3.60/SF
EGI
$52.3K $32.40/SF
− OpEx
−$19.6K −$12.15/SF
NOI
$32.7K $20.25/SF
Area
Essex County, MA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,080
Cap Rate 7%
$467,200
Cap Rate 9%
$363,378
Alternative Uses
Best Use
Mixed Use
$467.2K
$408.8K – $545.1K
NOI $32,704 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$956.1K
$836.6K – $1.12M
NOI $66,925 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 01938, MA
13,785
Population
6,270
Households
2.2
Avg Household Size
51
Median Age
57%
College-Educated
98%
High-School Grad
32.1 sq mi
ZIP Area
429
Density / Sq Mi
$124,405
Median Household Income
$62,161
Median Earnings
$1,525
Median Rent
$701,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Commercial land - HB zoning allows a range of commercial and mixed-use development options, subject to site-plan review.
Where is this commercial land located?
The property is located at 140 High Street Ipswich, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Approximately 1 acre, or 43,400 square feet; HB (Highway Business) zoning; On Route 133 between Ipswich High/Middle School and Ipswich Shopping Plaza
