Property profile

264 Broadway Lawrence, MA 01843

OFF-MARKET
Showrooms
Property ID
US38-0501358
5,835 SF 0.44 ac lot Built 1965
Entity Owned 13-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property, located at 264 South Broadway in Lawrence, MA, presents a unique investment opportunity. Situated on a desirable 0.44-acre corner lot in the sought-after Route 28 area, this single-story brick building boasts 18,000 square feet of space. The property features three large overhead doors, offering remarkable flexibility for a variety of uses and configurations. Currently, the layout includes two spacious garages, office space, and a retail storefront. The high hourly traffic count ensures excellent visibility and accessibility. This location benefits significantly from recent revitalization efforts in the surrounding area. The redevelopment of the former Ford dealership a short distance away has spurred significant positive changes, including the construction of a new Cumberland Farms and Family Dollar complex, which includes a retail store, gas station, and market. This development has transformed the South side corridor, creating a dynamic and attractive retail environment. The property's substantial size and versatile design offer incredible upside potential for savvy investors seeking to capitalize on this thriving commercial district. The asking price is $1,499,900.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1965
Construction STEEL FRAME
Total area 5,835 SF
Lot 0.44 ac (18,950 SF)
APN LAWR M:0119 B:0000 L:0102
UPID US38-0501358

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hair Salon Nail Salon
  • Auto Parts Store Discount Store
  • Auto Repair Shop
  • Restaurant Take-out & Catering

Location

264 Broadway Lawrence, MA 01843-2615
Lawrence metro Census 251500 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$300k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$300k

Owner & transaction history

since 2013
1 recorded transaction
2013
$500,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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