Flex Space with
For Sale
$549,900
1431 Hilldale Ave # 6, Haverhill, MA 01832
New-construction flex bay with overhead-door access, mezzanine space, and customizable interior build-out.
Property Size2,310 SF
Price / SF$238.05
Days on Market125
Property Features for 1431 Hilldale Ave # 6
General Information
Standard status
Active
Size
2,310 SF
Total Parking Spaces
5
Property subtype
COMMERCIAL
Warehouse & Industrial
Clear Height
23 ft
Mezzanine
600 SF
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
2026
Construction
steel
Listing Agency:
Four Points Real Estate, LLC
(617) 306-3926
Listed By:
Chapman Real Estate Group
Source:
Kevinfruh
Added: Apr 29
Changed: Aug 31
Last Checked: Aug 30 at 10:34PM
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 Four Points Real Estate, LLC
Investment Insights
Based on property information with market context.
Unit 6 is a 2,310 SF flex condominium bay within a steel industrial building completed in 2026. The space provides 23-foot ceilings, a 14-foot overhead door, and a 600 SF mezzanine, along with a first-floor half bath and slop sink. A gas Modine heating system supports the bay, while sprinklers and fire alarms are installed throughout the building.
Each condominium unit includes 5 deeded outdoor parking spaces, with additional vehicle storage available inside the bay. The property is approximately 1 mile from Plaistow shopping and 2 miles from Route 495. The interior can be configured and finished to suit the occupant’s requirements.
Each condominium unit includes 5 deeded outdoor parking spaces, with additional vehicle storage available inside the bay. The property is approximately 1 mile from Plaistow shopping and 2 miles from Route 495. The interior can be configured and finished to suit the occupant’s requirements.
Key Highlights
- 2,310 SF Unit 6 flex condominium bay
- 23‑foot ceilings with a 14‑foot overhead door
- 600 SF mezzanine included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,303
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$806,060
$806.1K
Cap Rate 7%
$575,757
$575.8K
Cap Rate 9%
$447,811
$447.8K
Market Conditions
NOI Build-Up for 2,310 SF
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.
Gross rent
$66.5K $28.80/SF
− Vacancy
−$4.5K −$1.96/SF
EGI
$62.0K $26.84/SF
− OpEx
−$21.7K −$9.39/SF
NOI
$40.3K $17.45/SF
Area
Essex County, MA
Vacancy
6.80%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$806,060
Cap Rate 7%
$575,757
Cap Rate 9%
$447,811
Alternative Uses
Best Use
Flex RnD
$575.8K
$503.8K – $671.7K
NOI $40,303 @ 7.0% cap · market cap 7.33%
Second Best
Warehouse
$426.2K
$373.0K – $497.3K
NOI $29,837 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,726 @ 7.0% cap · market cap 17.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23 ft
Clear height
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01832, MA
25,656
Population
10,735
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
11.4 sq mi
ZIP Area
2,251
Density / Sq Mi
$81,141
Median Household Income
$47,151
Median Earnings
$1,612
Median Rent
$410,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - New-construction flex bay with overhead-door access, mezzanine space, and customizable interior build-out.
Where is this flex space located?
The property is located at 1431 Hilldale Ave # 6 Haverhill, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,310 SF Unit 6 flex condominium bay; 23‑foot ceilings with a 14‑foot overhead door; 600 SF mezzanine included
