Freestanding Bank
For Sale
$2,000,000
1995 Lakeview Ave, Dracut, MA 01826
B3-zoned commercial property with dedicated parking, strong avenue exposure, and water views.
Property Size3,366 SF
Lot Size0.87 Acres
Price / SF$594.18
Days on Market254
Property Features for 1995 Lakeview Ave
General Information
Standard status
Active
Size
3,366 SF
Total Parking Spaces
22
Lot size
0.87 Acres
Property subtype
Commercial
Zoning
B3
Site & Location
Traffic Count
25,000 vehicles/day
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,596
Amenities
Water Views
Building Details
Building Size
3,366 SF
Year Built
1970
Buildings
1
Listing Agency:
Atlantic Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Dec 19, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:42PM
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 Atlantic Properties
Investment Insights
Based on property information with market context.
This freestanding former Santander branch contains 3,366 SF of retail and office space on approximately 0.87 acres. The property includes a large parking area with 22 on-site spaces and was built in 1970. B3 zoning designates the site for General Business use.
Positioned on Lakeview Avenue, the property benefits from reported exposure to approximately 25,000± VPD. Nearby national retailers include CVS, Dunkin’, and Enterprise, providing an established commercial setting. Water views are also noted. The property is offered for sale or lease and is scheduled to be available July 1st, 2026.
Positioned on Lakeview Avenue, the property benefits from reported exposure to approximately 25,000± VPD. Nearby national retailers include CVS, Dunkin’, and Enterprise, providing an established commercial setting. Water views are also noted. The property is offered for sale or lease and is scheduled to be available July 1st, 2026.
Key Highlights
- Freestanding former Santander bank branch with 3,366 SF
- Approximately 0.87 acres with 22 on‑site parking spaces
- B3 – General Business zoning
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
$63,049
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
3.15%
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%
$1,260,980
$1.3M
Cap Rate 7%
$900,700
$900.7K
Cap Rate 9%
$700,544
$700.5K
Market Conditions
NOI Build-Up for 3,366 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
$90.9K $27.00/SF
− Vacancy
−$6.8K −$2.03/SF
EGI
$84.1K $24.98/SF
− OpEx
−$21.0K −$6.24/SF
NOI
$63.0K $18.73/SF
Area
Middlesex County, MA
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,260,980
Cap Rate 7%
$900,700
Cap Rate 9%
$700,544
Alternative Uses
Best Use
Specialty Retail
$900.7K
$788.1K – $1.05M
NOI $63,049 @ 7.0% cap · market cap 3.15%
Second Best
Retail
$691.1K
$604.7K – $806.3K
NOI $48,379 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,486 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 36%
Dunkin' Donuts
Dining
17,791 visits/mo
0.1 miles
7-Eleven
Shops & Services
9,945 visits/mo
0.0 miles
Demographics for 01826, MA
32,689
Population
12,480
Households
2.6
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,572
Density / Sq Mi
$111,451
Median Household Income
$58,361
Median Earnings
$1,740
Median Rent
$466,200
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?
Bank - B3-zoned commercial property with dedicated parking, strong avenue exposure, and water views.
Where is this bank located?
The property is located at 1995 Lakeview Ave Dracut, MA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Freestanding former Santander bank branch with 3,366 SF; Approximately 0.87 acres with 22 on‑site parking spaces; B3 – General Business zoning
