Top-Floor Medical Suite with River
For Sale
$689,000
25 Marston Street Unit 402, Lawrence, MA 01841
Turnkey medical suite near Lawrence General Hospital and I-495.
Property Size2,725 SF
Price / SF$252.84
Days on Market174
Property Features for 25 Marston Street Unit 402
General Information
Standard status
Active
Size
2,725 SF
Property subtype
Commercial
Building Details
Year Built
2011
Listing Agency:
Compass
(850) 554-3142
Listed By:
The Lush Group · License #BK3153120
Source:
Elevatedboston
Added: Mar 3
Changed: Aug 23
Last Checked: Aug 23 at 5:43AM
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 Compass
Investment Insights
Based on property information with market context.
This top-floor suite at Marston Medical Center offers views of the Merrimack River and the historic mill district. The property features 13-foot ceilings, exposed brick, and oversized windows. The layout includes a reception area, multiple exam rooms and offices, a full kitchen, and three bathrooms. The property also features hardwood and retro checkered flooring. Ample garage parking is available. The property is located near Lawrence General Hospital and I-495. The property size is 2725 square feet. This property is suitable for medical office space and other commercial real estate purposes.
Key Highlights
- Top‑floor suite in Marston Medical Center with sweeping views.
- Turnkey property ideally located steps from Lawrence General Hospital and seconds from I‑495.
- Pristine space with soaring 13‑foot ceilings, exposed brick, and oversized windows.
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
$50,266
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
7.30%
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%
$1,005,320
$1.0M
Cap Rate 7%
$718,086
$718.1K
Cap Rate 9%
$558,511
$558.5K
Market Conditions
NOI Build-Up for 2,725 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
$91.6K $33.60/SF
− Vacancy
−$7.8K −$2.86/SF
EGI
$83.8K $30.74/SF
− OpEx
−$33.5K −$12.30/SF
NOI
$50.3K $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%
$1,005,320
Cap Rate 7%
$718,086
Cap Rate 9%
$558,511
Alternative Uses
Best Use
Office B
$1.09M
$949.4K – $1.27M
NOI $75,954 @ 7.0% cap · market cap 11.02%
Second Best
Healthcare Medical
$718.1K
$628.3K – $837.8K
NOI $50,266 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,923 @ 7.0% cap · market cap 16.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Good Dog Aquatic Fitness — 29 N Main St, North Andover, MA 01845
- Alternative Veterinary Services: Lindsay David DVM — 9 Hodges St, North Andover, MA 01845
- Martha C. Lindsay DVM, MS, CVH — 9 Hodges St, North Andover, MA 01845
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical suite near Lawrence General Hospital and I-495.
Where is this medical office space located?
The property is located at 25 Marston Street Unit 402 Lawrence, MA.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Top‑floor suite in Marston Medical Center with sweeping views.; Turnkey property ideally located steps from Lawrence General Hospital and seconds from I‑495.; Pristine space with soaring 13‑foot ceilings, exposed brick, and oversized windows.
