Turnkey Restaurant
For Sale
$1,000,000
226 Essex St, Lawrence, MA 01843
Fully operational restaurant sale includes the business and FF&E, with lease transfer subject to landlord approval.
Property Size2,024 SF
Days on Market98
Property Features for 226 Essex St
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Building Size
2,024 SF
Year Built
2024
Listing Agency:
Cameron Prestige, LLC
(857) 331-5127
Listed By:
Leo Nikolouzos · License #449598580
(781) 808-7485
Source:
Iverty
Added: Jul 17
Changed: Oct 21
Last Checked: Oct 20 at 10:55PM
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 Cameron Prestige, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale opportunity offers a fully operational, upscale turnkey restaurant. The sale includes the established business along with furniture, fixtures, and equipment (FF&E), as well as branding and other business assets.
The property is located at 226 Essex St in Lawrence, MA, and any transfer of the lease is subject to landlord approval. Showings are by appointment only.
The seller will consider multiple acquisition structures, including cash purchase, seller financing for qualified buyers under mutually agreeable terms, or acquisition by an experienced restaurant operator or restaurant group. Financial information is available to qualified buyers.
The property is located at 226 Essex St in Lawrence, MA, and any transfer of the lease is subject to landlord approval. Showings are by appointment only.
The seller will consider multiple acquisition structures, including cash purchase, seller financing for qualified buyers under mutually agreeable terms, or acquisition by an experienced restaurant operator or restaurant group. Financial information is available to qualified buyers.
Key Highlights
- Fully operational restaurant for sale including the established business and FF&E (furniture, fixtures, and equipment)
- Sale includes branding and other business assets
- Lease transfer is subject to landlord approval
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,412
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$748,240
$748.2K
Cap Rate 7%
$534,457
$534.5K
Cap Rate 9%
$415,689
$415.7K
Market Conditions
NOI Build-Up for 2,024 SF
Gross rent
$51.0K $25.20/SF
− Vacancy
−$1.1K −$0.55/SF
EGI
$49.9K $24.65/SF
− OpEx
−$12.5K −$6.16/SF
NOI
$37.4K $18.48/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$748,240
Cap Rate 7%
$534,457
Cap Rate 9%
$415,689
Alternative Uses
Best Use
Specialty Retail
$534.5K
$467.7K – $623.5K
NOI $37,412 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,874 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,006
Businesses Nearby
Under-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
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully operational restaurant sale includes the business and FF&E, with lease transfer subject to landlord approval.
Where is this conventional restaurant located?
The property is located at 226 Essex St Lawrence, MA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Fully operational restaurant for sale including the established business and FF&E (furniture, fixtures, and equipment); Sale includes branding and other business assets; Lease transfer is subject to landlord approval
