Mixed-Use Property Along
For Sale
$575,000
33-37 S Main St, Ipswich, MA 01938
Two commercial suites and a residential apartment occupy a flexible downtown building with Central Business zoning.
Property Size2,125 SF
Price / SF$270.59
Days on Market48
Property Features for 33-37 S Main St
General Information
Standard status
Active
Size
2,125 SF
Zoning
CB
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,560
Building Details
Building Size
2,125 SF
Year Built
1900
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Realty One Group Nest
Listed By:
Vincent Forzese · License #456010970
(978) 273-1063
Source:
Insightrealtygroup
Added: Sep 8
Changed: Oct 11
Last Checked: Oct 24 at 1:25PM
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 Realty One Group Nest
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1900, this approximately 2,125-square-foot mixed-use property combines commercial and residential space in a two-story configuration. The ground level contains two commercial areas totaling approximately 1,233 square feet, while the upper level includes an approximately 892-square-foot apartment with two to three bedrooms. Central Business zoning is in place, and the layout supports a range of commercial formats alongside an on-site residential component.
The property is situated in downtown Ipswich along South Main Street, with the rear facing the Ipswich River. Commuter rail service, the Riverwalk, shops, restaurants, and parks are located nearby. Its storefront presentation and established separation between commercial and residential areas provide a practical framework for continued mixed-use occupancy or future repositioning, subject to due diligence regarding permitted uses, zoning, and improvements.
The property is situated in downtown Ipswich along South Main Street, with the rear facing the Ipswich River. Commuter rail service, the Riverwalk, shops, restaurants, and parks are located nearby. Its storefront presentation and established separation between commercial and residential areas provide a practical framework for continued mixed-use occupancy or future repositioning, subject to due diligence regarding permitted uses, zoning, and improvements.
Key Highlights
- Approximately 2,125 SF of total mixed‑use space
- Two first‑floor commercial suites totaling approximately 1,233 SF
- Second‑floor apartment measures approximately 892 SF with 2 to 3 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,031
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,620
$860.6K
Cap Rate 7%
$614,729
$614.7K
Cap Rate 9%
$478,122
$478.1K
Market Conditions
NOI Build-Up for 2,125 SF
Gross rent
$76.5K $36.00/SF
− Vacancy
−$7.7K −$3.60/SF
EGI
$68.9K $32.40/SF
− OpEx
−$25.8K −$12.15/SF
NOI
$43.0K $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%
$860,620
Cap Rate 7%
$614,729
Cap Rate 9%
$478,122
Alternative Uses
Best Use
Mixed Use
$614.7K
$537.9K – $717.2K
NOI $43,031 @ 7.0% cap · market cap 7.48%
Second Best
Retail
$498.8K
$436.4K – $581.9K
NOI $34,915 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,059 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Home Improvements & Furnishings 10%
Cumberland Farms
Shops & Services
6,870 visits/mo
0.3 miles
TD Bank
Shops & Services
2,321 visits/mo
0.3 miles
Napa Auto Parts
Shops & Services
1,313 visits/mo
0.3 miles
Tedford's Building Materials And Hardware
Home Improvements & Furnishings
1,136 visits/mo
0.4 miles
Demographics for 01938, MA
13,785
Population
6,270
Households
2.2
Avg Household Size
51
Median Age
57%
College-Educated
98%
High-School Grad
32.1 sq mi
ZIP Area
429
Density / Sq Mi
$124,405
Median Household Income
$62,161
Median Earnings
$1,525
Median Rent
$701,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial suites and a residential apartment occupy a flexible downtown building with Central Business zoning.
Where is this mixed-use property located?
The property is located at 33-37 S Main St Ipswich, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Approximately 2,125 SF of total mixed‑use space; Two first‑floor commercial suites totaling approximately 1,233 SF; Second‑floor apartment measures approximately 892 SF with 2 to 3 bedrooms
