185 South Broadway, Lawrence, MA 01843

Building Details

Building Size 1,696 SF More

Year Built 1900 More

Buildings 1 More

Construction stucco More

Listing Agency: Empire Real Estateâ„¢ Show Phone

Listed By: Milagros Castillo · License #456011091 Show Phone

Source: Clementsrealty

Added: Nov 6 Last Checked: Nov 7 at 7:44AM

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Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,696-square-foot freestanding stucco building dates to 1900 and sits on more than half an acre. Its current use combines an automotive garage with used-car sales, and the property has a car dealer license.

The site is at 185 South Broadway in Lawrence, along the Route 28 corridor. Legal conforming zoning is in place, with a rezoning request for mixed-use classification currently in the approval process.

Key Highlights

• Freestanding stucco building with 1,696 square feet
• More than half an acre
• Currently used as an automotive garage and used‑car dealership

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,866

Cap Rate

2.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$557,320 $557.3K

Cap Rate 7%

$398,086 $398.1K

Cap Rate 9%

$309,622 $309.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,696 SF

Gross rent

$40.7K $24.00/SF

− Vacancy

−$895 −$0.53/SF

EGI

$39.8K $23.47/SF

− OpEx

−$11.9K −$7.04/SF

NOI

$27.9K $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 Rate 5%

$557,320

Cap Rate 7%

$398,086

Cap Rate 9%

$309,622

Alternative Uses

Best Use

Retail

$398.1K

$348.3K – $464.4K (±1% cap)

NOI $27,866 @ 7.0% cap · market cap 2.80%

Second Best

Industrial

$257.7K

$225.5K – $300.7K (±1% cap)

NOI $18,040 @ 7.0% cap · market cap 1.81%

Theoretical Best

Office A

$1.00M

$878.5K – $1.17M (±1% cap)

NOI $70,282 @ 7.0% cap · market cap 7.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Bellmores Auto Center Auto Repair Shop Bellmore's Used Tire ... Auto Parts Store

Suggested Use

Top Pick Real Estate Agency Acupuncture Skin Care Clinic Pet Grooming Service (Bike/Boat/Book/etc) Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,403

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 01843, MA

28,346

Population

10,968

Households

2.6

Avg Household Size

34

Median Age

20%

College-Educated

79%

High-School Grad

3.4 sq mi

ZIP Area

8,337

Density / Sq Mi

$72,163

Median Household Income

$38,957

Median Earnings

$1,703

Median Rent

$393,700

Median Home Value

Market

Average Price Trend$/SF for Auto shops in Essex County, MA

$219 Jul

$189 Aug

$208 Sep

$179 Oct

Properties on Market for Auto shops in Essex County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Similar Off Market Nearby

• C V Joints & Auto Repair — 192 Water St, Lawrence, MA 01841
• CG AUTO & TRUCK REPAIR — 188 Water St, Lawrence, MA 01841
• JDM Auto Collision — 63 S Broadway, Lawrence, MA 01843
• Papa Rims & Tires — 33 S Broadway, Lawrence, MA 01843
• United Auto Body — 29 Carver St, Lawrence, MA 01843

Frequently Asked Questions

What type of property is this?

Auto shop - The freestanding stucco property is currently used for automotive service and used-car sales.

Where is this auto shop located?

The property is located at 185 South Broadway Lawrence, MA.

What is the asking price?

The asking price for this property is $994,900.

What are key features of this property?

This property features: Freestanding stucco building with 1,696 square feet; More than half an acre; Currently used as an automotive garage and used‑car dealership