Flex Space with Spray
For Sale
$1,150,000
Pending
341 S Broadway, Lawrence, MA 01843
Manufacturing, warehouse, and office areas support autobody and light industrial operations.
Property Size5,220 SF
Days on Market166
Property Features for 341 S Broadway
General Information
Standard status
Pending
Size
5,220 SF
Total Parking Spaces
22
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
4,878 SF
Office Build-Out
342 SF
Taxes and HOA fees
Annual Taxes
$9,479
Amenities
spray booths
Building Details
Buildings
1
Building Size
5,220 SF
Listing Agency:
DiPietro Group Real Estate
(978) 788-4184
Listed By:
Linda Byers
(978) 788-4184
Source:
Exprealty
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 30 at 11:27AM
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 DiPietro Group Real Estate
Investment Insights
Based on property information with market context.
This approximately 5,220 SF flex property is configured for autobody and light industrial use. The building includes 4,878 SF of manufacturing and warehouse area alongside 342 SF of office space, with two spray booths integrated into the current layout. Parking is provided for approximately 22 vehicles.
Located at 341 S Broadway in Lawrence, MA, the property offers exposure along South Broadway with access to major highways and nearby retail and commercial amenities. The existing configuration supports autobody, contractor, service, light manufacturing, warehouse, and other flex-oriented operations.
Located at 341 S Broadway in Lawrence, MA, the property offers exposure along South Broadway with access to major highways and nearby retail and commercial amenities. The existing configuration supports autobody, contractor, service, light manufacturing, warehouse, and other flex-oriented operations.
Key Highlights
- Approximately 5,220 SF flex building
- 4,878 SF of manufacturing and warehouse space
- 342 SF of office space
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
$91,074
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
7.92%
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%
$1,821,480
$1.8M
Cap Rate 7%
$1,301,057
$1.3M
Cap Rate 9%
$1,011,933
$1.0M
Market Conditions
NOI Build-Up for 5,220 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
$150.3K $28.80/SF
− Vacancy
−$10.2K −$1.96/SF
EGI
$140.1K $26.84/SF
− OpEx
−$49.0K −$9.39/SF
NOI
$91.1K $17.45/SF
Area
Essex County, MA
Vacancy
6.80%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,821,480
Cap Rate 7%
$1,301,057
Cap Rate 9%
$1,011,933
Alternative Uses
Best Use
Flex RnD
$1.30M
$1.14M – $1.52M
NOI $91,074 @ 7.0% cap · market cap 7.92%
Second Best
Retail
$1.23M
$1.07M – $1.43M
NOI $85,767 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$3.09M
$2.70M – $3.61M
NOI $216,315 @ 7.0% cap · market cap 18.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,143
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01843, MA
28,346
Population
10,968
Households
2.6
Avg Household Size
34
Median Age
20%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
8,337
Density / Sq Mi
$72,163
Median Household Income
$38,957
Median Earnings
$1,703
Median Rent
$393,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Manufacturing, warehouse, and office areas support autobody and light industrial operations.
Where is this flex space located?
The property is located at 341 S Broadway Lawrence, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Approximately 5,220 SF flex building; 4,878 SF of manufacturing and warehouse space; 342 SF of office space
