Mixed-Use Building with Retail
New
For Sale
$2,190,000
265 Essex St, Lawrence, MA 01840
A four-floor property combines residential apartments with a ground-floor commercial component and tenant coin-operated laundry.
Property Size7,175 SF
Days on Market3
Property Features for 265 Essex St
General Information
Standard status
Active
Size
7,175 SF
Property subtype
Investment
Site & Location
Public Transit
Yes
Mixed-Use Components
retail, residential
Additional Details
Sprinkler System
Yes
Multifamily Units
6
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$10,103
Amenities
coin op laundry
Building Details
Building Size
7,175 SF
Year Built
1900
Year Renovated
2020
Buildings
1
Stories
4
Units
7
Tenancy
Multi
Listing Agency:
NorthEast Private Client Group Newton
Listed By:
Patrick Wheeler · License #9552789
(978) 935-8527
Source:
Elliman
Added: Oct 23
Last Checked: Oct 24 at 5:14PM
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 NorthEast Private Client Group Newton
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Investment Insights
Based on property information with market context.
This mixed-use building contains one retail unit and six residential units across four floors. A 2020 gut renovation replaced electrical, plumbing, and heating systems. The building is fully sprinklered and includes coin-operated laundry for residents. Tenants pay their own utilities.
Located at 265 Essex St in Lawrence, Massachusetts, the property has a Walk Score of 86, a Transit Score of 53, and a Bike Score of 50.
Located at 265 Essex St in Lawrence, Massachusetts, the property has a Walk Score of 86, a Transit Score of 53, and a Bike Score of 50.
Key Highlights
- One retail unit and six residential units across four floors
- Gut renovation completed in 2020, including electrical, plumbing, and heating systems
- Fully sprinklered building with coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,294
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,905,880
$2.9M
Cap Rate 7%
$2,075,629
$2.1M
Cap Rate 9%
$1,614,378
$1.6M
Market Conditions
NOI Build-Up for 7,175 SF
Gross rent
$258.3K $36.00/SF
− Vacancy
−$25.8K −$3.60/SF
EGI
$232.5K $32.40/SF
− OpEx
−$87.2K −$12.15/SF
NOI
$145.3K $20.25/SF
Area
Essex County, MA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,905,880
Cap Rate 7%
$2,075,629
Cap Rate 9%
$1,614,378
Alternative Uses
Best Use
Mixed Use
$2.08M
$1.82M – $2.42M
NOI $145,294 @ 7.0% cap · market cap 6.63%
Second Best
Retail
$1.68M
$1.47M – $1.96M
NOI $117,888 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$4.25M
$3.72M – $4.96M
NOI $297,330 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,931
Businesses Nearby
Explore this area
Business Placement
Demographics for 01840, MA
7,121
Population
3,415
Households
2.1
Avg Household Size
36
Median Age
13%
College-Educated
69%
High-School Grad
0.5 sq mi
ZIP Area
14,242
Density / Sq Mi
$34,630
Median Household Income
$31,930
Median Earnings
$1,174
Median Rent
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A four-floor property combines residential apartments with a ground-floor commercial component and tenant coin-operated laundry.
Where is this mixed-use property located?
The property is located at 265 Essex St Lawrence, MA.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: One retail unit and six residential units across four floors; Gut renovation completed in 2020, including electrical, plumbing, and heating systems; Fully sprinklered building with coin‑operated laundry
