Medical Office Condominium with River
For Sale
$250,000
25 Marston St 303, Lawrence, MA 01841
Third-floor professional suite with direct upper-level parking access in a restored medical office building.
Property Size1,166 SF
Price / SF$214.41
Days on Market50
Property Features for 25 Marston St 303
General Information
Standard status
Active
Size
1,166 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
3
Taxes and HOA fees
Annual Taxes
$8,223
Amenities
Merrimack River views
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Team Zingales Realty
Listed By:
Joe Zingales · License #9058568
(978) 547-9068
Source:
Elliman
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 28 at 9:38AM
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 Team Zingales Realty
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Investment Insights
Based on property information with market context.
Unit 303 is a 1,166-square-foot commercial condominium on the third floor of a medical office building. The suite is currently configured for ophthalmology use and may accommodate continued healthcare operations or another professional practice. Direct entry from the upper parking level supports convenient access for patients, clients, and staff.
The property occupies a restored 1920 mill building updated for contemporary functionality, with views toward the Merrimack River and on-site parking. The building includes medical and healthcare practices and is located near Lawrence General Hospital, with access to Route 495 and surrounding communities. Walk Score is 86, Transit Score is 53, and Bike Score is 50.
The property occupies a restored 1920 mill building updated for contemporary functionality, with views toward the Merrimack River and on-site parking. The building includes medical and healthcare practices and is located near Lawrence General Hospital, with access to Route 495 and surrounding communities. Walk Score is 86, Transit Score is 53, and Bike Score is 50.
Key Highlights
- 1,166 SF commercial condominium identified as Unit 303
- Current ophthalmology office configuration
- Third‑floor suite with direct access from upper‑level parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,509
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,180
$430.2K
Cap Rate 7%
$307,271
$307.3K
Cap Rate 9%
$238,989
$239.0K
Market Conditions
NOI Build-Up for 1,166 SF
Gross rent
$39.2K $33.60/SF
− Vacancy
−$3.3K −$2.86/SF
EGI
$35.8K $30.74/SF
− OpEx
−$14.3K −$12.30/SF
NOI
$21.5K $18.45/SF
Area
Essex County, MA
Vacancy
8.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,180
Cap Rate 7%
$307,271
Cap Rate 9%
$238,989
Alternative Uses
Best Use
Office B
$464.3K
$406.3K – $541.7K
NOI $32,500 @ 7.0% cap · market cap 13.00%
Second Best
Healthcare Medical
$307.3K
$268.9K – $358.5K
NOI $21,509 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$690.3K
$604.0K – $805.3K
NOI $48,319 @ 7.0% cap · market cap 19.33%
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
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,035
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01841, MA
53,654
Population
17,546
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
3.0 sq mi
ZIP Area
17,885
Density / Sq Mi
$54,525
Median Household Income
$34,741
Median Earnings
$1,565
Median Rent
$393,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Third-floor professional suite with direct upper-level parking access in a restored medical office building.
Where is this medical office space located?
The property is located at 25 Marston St 303 Lawrence, MA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,166 SF commercial condominium identified as Unit 303; Current ophthalmology office configuration; Third‑floor suite with direct access from upper‑level parking
