Freestanding Retail Property on
For Sale
Contact for pricing
144 Broadway, Saugus, MA 01906
Multi-tenant retail property in a high-traffic area.
Property Size1,517 SF
Lot Size0.15 Acres
Price / SF$524.06
Days on Market197
Property Features for 144 Broadway
General Information
Standard status
Active
Size
1,517 SF
Lot size
0.15 Acres
Property subtype
Retail
Net Operating Income
$55,723
Building Details
Year Built
1935
Listing Agency:
NorthEast Private Client Group Shelton
Listed By:
Anthony Rakuskas · License #9588289
Source:
Crexi
Added: Feb 4
Changed: Aug 8
Last Checked: Aug 8 at 6:37AM
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 NorthEast Private Client Group Shelton
Investment Insights
Based on property information with market context.
The Broadway Retail property is a freestanding, multi-tenant retail building located at 144 Broadway in Saugus, MA. Situated on a 0.15-acre corner lot along U.S. Route 1 (Broadway), the property benefits from high visibility and access within the Saugus/Lynn retail submarket. Constructed in 1935, the wood-frame building features approximately 55 feet of frontage on Broadway and a 24-foot building height. The building spans 2,273 square feet across two stories with 8-foot ceiling heights. The property is zoned Retail/Service, accommodating a range of commercial uses. A paved surface parking lot provides approximately 20 parking spaces, resulting in a parking ratio of 10.0 spaces per 1,000 square feet. The interior has been recently renovated and is configured for salon and service uses, making it suitable for retail, office, or personal service tenancy. Located along U.S. Route 1, the area experiences traffic counts exceeding 100,000 vehicles per day. The property is surrounded by national retailers, restaurants, and service businesses. It is located approximately 9 miles north of Downtown Boston, with access to Route 1, Route 129, I-95, and I-93. Logan International Airport is approximately 22 minutes away. The property size is 1,517 square feet.
Key Highlights
- High‑traffic location on U.S. Route 1 with over 100,000 vehicles per day, providing exceptional exposure.
- Ample parking with approximately 20 spaces, significantly exceeding market norms.
- Recently renovated interior, currently configured for salon and service uses, suitable for retail, office, or personal service tenancy.
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
$24,925
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
3.14%
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%
$498,500
$498.5K
Cap Rate 7%
$356,071
$356.1K
Cap Rate 9%
$276,944
$276.9K
Market Conditions
NOI Build-Up for 1,517 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
$36.4K $24.00/SF
− Vacancy
−$801 −$0.53/SF
EGI
$35.6K $23.47/SF
− OpEx
−$10.7K −$7.04/SF
NOI
$24.9K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$498,500
Cap Rate 7%
$356,071
Cap Rate 9%
$276,944
Alternative Uses
Best Use
Retail
$356.1K
$311.6K – $415.4K
NOI $24,925 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$898.1K
$785.8K – $1.05M
NOI $62,864 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
187k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 28%
Apparel 22%
Home Improvements & Furnishings 3%
Kohl's
Apparel
36,079 visits/mo
0.3 miles
McDonald's
Dining
33,731 visits/mo
0.2 miles
Applebee's
Dining
17,753 visits/mo
0.4 miles
The Paper Store
Shops & Services
15,243 visits/mo
0.4 miles
Dunkin' Donuts
Dining
14,366 visits/mo
0.2 miles
Demographics for 01906, MA
28,619
Population
11,259
Households
2.5
Avg Household Size
45
Median Age
31%
College-Educated
91%
High-School Grad
11.6 sq mi
ZIP Area
2,467
Density / Sq Mi
$100,819
Median Household Income
$52,189
Median Earnings
$1,982
Median Rent
$589,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Multi-tenant retail property in a high-traffic area.
Where is this retail space located?
The property is located at 144 Broadway Saugus, 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: High‑traffic location on U.S. Route 1 with over 100,000 vehicles per day, providing exceptional exposure.; Ample parking with approximately 20 spaces, significantly exceeding market norms.; Recently renovated interior, currently configured for salon and service uses, suitable for retail, office, or personal service tenancy.
