Six-Unit Mixed-Use
149 Washington Street Peabody, MA 01960
149 Washington Street, Peabody, MA, 01960
$1,285,000
For Sale
$1,285,000
Includes four residential units and approximately 1,515 sf of commercial storefront space used as two retail spaces.
Property Size4,617 SF
Price / SF$278.32
Days on Market84
Property Features for 149 Washington Street
General Information
- Standard status
- Active
- Size
- 4,617 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1890
Listing agency
Century 21 Mario Real Estate
Listed by
Lisa Leonard
(617) 731-4644
Source
Hammondre
Added: Apr 29 Updated: Jul 21 at 12:34AM Checked: Jul 21 at 12:34AM
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 Century 21 Mario Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property offers six total units, with four residential apartments and approximately 1,515 sf of commercial storefront space. The residential component consists of four units with 4 rooms, 2 bedrooms, and 1 bathroom each. The commercial space is currently being used as two separate retail spaces.
Located in Peabody town center, just south of Peabody Sq., the property is described as being in a walkable mixed-use neighborhood district with a Walkscore of 86 out of 100. The listing states the building is steps from public transportation and within minutes of Main/Lowell/Boston/Lynnfield streets, with highway access to I-95/128 and Route 1.
Rents are stated to be below market value, supporting an income-focused ownership strategy.
Located in Peabody town center, just south of Peabody Sq., the property is described as being in a walkable mixed-use neighborhood district with a Walkscore of 86 out of 100. The listing states the building is steps from public transportation and within minutes of Main/Lowell/Boston/Lynnfield streets, with highway access to I-95/128 and Route 1.
Rents are stated to be below market value, supporting an income-focused ownership strategy.
Key Highlights
- 6‑unit mixed‑use property built in 1890 with 4 residential units plus approximately 1,515 SF commercial storefront space
- Residential mix: four 4‑room, 2‑bedroom, 1‑bath units
- Commercial space totals approximately 1,515 SF and is currently used as two separate retail spaces
Local Financial Insights For Mixed Use
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 | $166.2k | $36.00 |
| − Vacancy | −$16.6k | −$3.60 |
| EGI | $149.6k | $32.40 |
| − OpEx | −$56.1k | −$12.15 |
| NOI | $93.5k | $20.25 |
4,617 SF · lease $36.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.34M
$1.17M – $1.56M
NOI $93,494 @ 7.0% cap · market cap 7.28%
Second Best
Retail
$1.08M
$948.2K – $1.26M
NOI $75,859 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,327 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
COMPLETE NUTRITION
(Bike/Boat/Book/etc) Store
Transition
Social Service Agency
COMPLETE NUTRITION CENTER
(Bike/Boat/Book/etc) Store
Violet's Designer Consignment ...
Discount Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Includes four residential units and approximately 1,515 sf of commercial storefront space used as two retail spaces.
Where is this mixed-use property located?
The property is located at 149 Washington Street Peabody, MA.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: 6‑unit mixed‑use property built in 1890 with 4 residential units plus approximately 1,515 SF commercial storefront space; Residential mix: four 4‑room, 2‑bedroom, 1‑bath units; Commercial space totals approximately 1,515 SF and is currently used as two separate retail spaces
