Building Details

Buildings 1

Construction steel frame

Tenancy Multi

Listing Agency: Four Points Real Estate, LLC Show Phone

Listed By: Chapman Real Estate Group Show Phone

Source: Exprealty

Added: May 27 Changed: Oct 2 Last Checked: Oct 4 at 2:10PM

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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.

This new steel flex property is organized as eight condominium units, with each unit measuring 2,442 square feet. The layout includes 23-foot ceilings, a 14-foot overhead door, and a 600-square-foot mezzanine, providing substantial vertical storage and workspace. Each unit also includes a first-floor half bath with slop sink and a gas Modine heating system. Interior build-outs can be customized to suit individual operational requirements.

The building is equipped with a sprinkler system and fire alarms. Each bay includes five deeded outdoor parking spaces, with additional vehicle storage possible inside the unit. The property is approximately 1 mile from Plaistow shopping and 2 miles from Route 495.

Key Highlights

• Eight condominium units, each measuring 2,442 sf
• 23 ft ceilings and 14 ft overhead doors
• 600 sf mezzanine in each unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,606

Cap Rate

7.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$852,120 $852.1K

Cap Rate 7%

$608,657 $608.7K

Cap Rate 9%

$473,400 $473.4K

Market Conditions

NOI Build-Up for 2,442 SF

Gross rent

$70.3K $28.80/SF

− Vacancy

−$4.8K −$1.96/SF

EGI

$65.5K $26.84/SF

− OpEx

−$22.9K −$9.39/SF

NOI

$42.6K $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 Rate 5%

$852,120

Cap Rate 7%

$608,657

Cap Rate 9%

$473,400

Alternative Uses

Best Use

Flex RnD

$608.7K

$532.6K – $710.1K (±1% cap)

NOI $42,606 @ 7.0% cap · market cap 7.75%

Second Best

Warehouse

$450.6K

$394.3K – $525.7K (±1% cap)

NOI $31,542 @ 7.0% cap · market cap 5.74%

Theoretical Best

Office A

$1.45M

$1.26M – $1.69M (±1% cap)

NOI $101,196 @ 7.0% cap · market cap 18.40%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Garden Center Locksmith (Bike/Boat/Book/etc) Store Hotel & Motel Florist Pet Grooming Service

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

Lease Details

23 ft

Clear height

1

Drive-in doors

Multi-tenant

Tenancy

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

1,219

Businesses Nearby

Under-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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - New steel flex units offer customizable interiors, overhead access, heating, and dedicated outdoor parking.

Where is this flex space located?

The property is located at 2-1431 Hilldale Ave 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: Eight condominium units, each measuring 2,442 sf; 23 ft ceilings and 14 ft overhead doors; 600 sf mezzanine in each unit