Medical Office Condominium with River
For Sale
$250,000
303-25 Marston St, Lawrence, MA 01841
Third-floor professional suite with upper-level parking access in a restored medical office building.
Property Size1,166 SF
Price / SF$214.41
Days on Market52
Property Features for 303-25 Marston St
General Information
Standard status
Active
Size
1,166 SF
Additional Details
Floor
3
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,223
Building Details
Tenancy
Multi
Listing Agency:
Team Zingales Realty, LLC
Listed By:
Team Zingales
(888) 832-6910
Source:
Exprealty
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 28 at 10:29AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 303 is a 1,166-square-foot commercial condominium on the third floor of a restored mill building converted for professional use. The suite is currently configured as an ophthalmology office and may support continued medical use or another professional practice. Modern functionality is paired with the building’s historic mill character, while views toward the Merrimack River add a distinctive setting for patients, clients, and staff.
Direct access from the upper-level parking area supports convenient arrival, and on-site parking is available. The building includes medical and healthcare professionals, creating an established professional environment. The property is near Lawrence General Hospital and provides access to Route 495 and surrounding communities. The sale is subject to lender and third-party approval and is offered in its existing condition.
Direct access from the upper-level parking area supports convenient arrival, and on-site parking is available. The building includes medical and healthcare professionals, creating an established professional environment. The property is near Lawrence General Hospital and provides access to Route 495 and surrounding communities. The sale is subject to lender and third-party approval and is offered in its existing condition.
Key Highlights
- 1,166 SF commercial condominium identified as Unit 303
- Currently configured as an ophthalmology office
- Third‑floor suite with direct access from the upper‑level parking area
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
424
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
Frequently Asked Questions
What type of property is this?
Medical Office Space - Third-floor professional suite with upper-level parking access in a restored medical office building.
Where is this medical office space located?
The property is located at 303-25 Marston St 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 identified as Unit 303; Currently configured as an ophthalmology office; Third‑floor suite with direct access from the upper‑level parking area
