Medical Office Condominium
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 Market48
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: Oct 25
Last Checked: Oct 24 at 11:36PM
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
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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 / 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.
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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
Similar Off Market Nearby
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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
