Medical Office Condominium
New
For Sale
$250,000
25 Marston St # 303, Lawrence, MA 01841
Third-floor suite with direct access from upper-level parking.
Property Size1,166 SF
Price / SF$214.41
Days on Market3
Property Features for 25 Marston St # 303
General Information
Standard status
Active
Size
1,166 SF
Property subtype
COMMERCIAL
Additional Details
Floor
3
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,223
Amenities
Merrimack River views
Building Details
Year Built
1920
Construction
mill
Tenancy
Multi
Listing Agency:
Team Zingales Realty, LLC
Listed By:
Team Zingales
(888) 832-6910
Source:
Kevinfruh
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 1:59PM
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, LLC
Investment Insights
Based on property information with market context.
Unit 303 is a ±1,166 SF commercial condominium on the third floor of a medical office building at 25 Marston St. in Lawrence. The space is currently configured for ophthalmology use and can support medical, healthcare, or other professional practice needs. The building dates to 1920 and has been restored with a blend of mill-era character and updated functionality.
Upper-level parking provides direct access to the suite for patients, clients, and staff. The property overlooks the Merrimack River, includes on-site parking, and is located near Lawrence General Hospital with access to Route 495 and surrounding communities. I2 zoning applies to the property.
Upper-level parking provides direct access to the suite for patients, clients, and staff. The property overlooks the Merrimack River, includes on-site parking, and is located near Lawrence General Hospital with access to Route 495 and surrounding communities. I2 zoning applies to the property.
Key Highlights
- ±1,166 SF commercial condominium, Unit 303
- Currently configured as an ophthalmology office
- Third‑floor location with direct access from upper‑level parking
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
$21,509
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
8.60%
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%
$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
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
$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 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%
$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.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 suite with direct access from upper-level parking.
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, Unit 303; Currently configured as an ophthalmology office; Third‑floor location with direct access from upper‑level parking
