Second-Floor Office
For Sale
Contact for pricing
Pending
24 Main Street Unit 306, Peabody, MA 01960
Compact office setting with updated finishes, natural light, and shared restrooms for occupants and visitors.
Property Size150 SF
Days on Market60
Property Features for 24 Main Street Unit 306
General Information
Standard status
Pending
Size
150 SF
Property subtype
Commercial
Additional Details
Floor
2
Building Details
Year Built
1900
Listing Agency:
Commonwealth Properties Residential, LLC
Listed By:
Prescott White
(617) 600-8415
Source:
Lockandkeyre
Added: Sep 3
Changed: Oct 31
Last Checked: Oct 30 at 3:48PM
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 Commonwealth Properties Residential, LLC
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Investment Insights
Based on property information with market context.
Unit 306 is a 150-square-foot office on the second floor of a downtown office building constructed in 1900. The 10-foot by 15-foot layout includes windows for natural light, new wood flooring, and white walls that provide a clean, adaptable setting for office, personal-service, or creative work. Shared restrooms are available on each floor for occupants and their clients.
Located at 24 Main Street in Peabody, the property offers access to major routes, shopping, and dining. The suite’s compact footprint and finished interior support a range of small-scale professional or studio applications, including use as a dedicated work-from-home alternative.
Located at 24 Main Street in Peabody, the property offers access to major routes, shopping, and dining. The suite’s compact footprint and finished interior support a range of small-scale professional or studio applications, including use as a dedicated work-from-home alternative.
Key Highlights
- 150 SF office unit with a 10’ x 15’ layout
- Second‑floor position in a downtown office building
- Windows provide natural lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,181
Suggested Prices Based on Cap Rates
Cap Rate 5%
$83,620
$83.6K
Cap Rate 7%
$59,729
$59.7K
Cap Rate 9%
$46,456
$46.5K
Market Conditions
NOI Build-Up for 150 SF
Gross rent
$6.8K $45.60/SF
− Vacancy
−$1.3K −$8.44/SF
EGI
$5.6K $37.16/SF
− OpEx
−$1.4K −$9.29/SF
NOI
$4.2K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$83,620
Cap Rate 7%
$59,729
Cap Rate 9%
$46,456
Alternative Uses
Best Use
Office B
$59.7K
$52.3K – $69.7K
NOI $4,181 @ 7.0% cap · market cap 727.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$88.8K
$77.7K – $103.6K
NOI $6,216 @ 7.0% cap · market cap 1,081.04%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,375
Businesses Nearby
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Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Compact office setting with updated finishes, natural light, and shared restrooms for occupants and visitors.
Where is this office unit located?
The property is located at 24 Main Street Unit 306 Peabody, MA.
What are key features of this property?
This property features: 150 SF office unit with a 10’ x 15’ layout; Second‑floor position in a downtown office building; Windows provide natural lighting
