Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    36 Manchester St Lawrence, MA 1841

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $889,000

    Three-story multifamily property in Lawrence, MA with income growth potential.

    Type:Investment
    Property size:
    5,072 SF
    Price / SF:
    $175/SF
    Added:
    Apr 24, 2026
    Days on Market:
    8
    Last Refresh:
    Apr 24 at 6:10 pm

    Property Features for 36 Manchester St

    General Information

    Standard status
    Active
    Size
    5,072 SF
    Property subtype
    Investment

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Angel Boria

    Listing agent Angel Boria

    Listing office

    Listing date Apr 24, 2026

    Source Elliman

    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 Angel Boria

    Overview

    Lawrence Multifamily Investment Opportunity

    Located at 36 Manchester Street in Lawrence, Massachusetts, this three-story multi-family property offers approximately 5,072 square feet of interior living space. The property features long-term tenants-at-will currently paying below-market rents, presenting an opportunity for income growth over time. The residence is within walking distance to many local amenities. The location has a bike score of 60, indicating it is bikeable, a walk score of 86, indicating it is very walkable, and a transit score of 38, indicating some transit options are available.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1760551
    Latitude
    42.7129669

    Nearby Similar for Sale

    • $849,900
      3,936 SF

      Tower Hill Multifamily Investment

      Four units with value-add potential in Lawrence's Tower Hill.
      923-925 Essex St, Lawrence, MA 01841
      View Details
    • $850,000
      4,671 SF

      Well-Maintained Multi-Family in Lawrence

      Well-maintained three-family property with updated systems and ample storage.
      22-24 Cedar St., Lawrence, MA 01841
      View Details
    • $799,900
      2,074 SF

      Updated Duplex in Lawrence, MA

      Updated two-family duplex with modern amenities and strong income potential.
      110-112 Everett St, Lawrence, MA 01843
      View Details
    • $1,250,000
      4,828 SF

      Mixed-Use Building in Lawrence, MA

      Three-story mixed-use building with commercial and residential units.
      324-326 Broadway, Lawrence, MA 01841
      View Details
    • $749,000
      2,725 SF

      Top-Floor Medical Suite with River Views

      Turnkey medical suite near Lawrence General Hospital and I-495.
      25 Marston St #402, Lawrence, MA 01841
      View Details
    • $360,000
      1,201 SF

      Lawrence Commercial Property For Sale

      Versatile commercial property in Lawrence, ideal for retail or office.
      34 Brookfield St, Lawrence, MA 01843
      View Details
    • $710,000

      Commercial Property in High-Traffic Area

      Fully equipped commercial space in a prime Lawrence location.
      139 Water St, Lawrence, MA 01841
      View Details
    • $710,000

      Equipped Commercial Space in Lawrence

      Fully operational commercial space in a prime Lawrence location.
      139 Water St, Lawrence, MA 01841
      View Details
    • $165,000

      Restaurant and Grocery Store Opportunity

      Fully operational Spanish restaurant and grocery store for sale.
      205 South Union Street, Lawrence, MA 01843
      View Details
    • $120,000

      Profitable Restaurant & Taqueria Opportunity

      Turnkey restaurant business with high traffic and loyal customer base.
      277 Merrimack Street, Lawrence, MA 01843
      View Details
    • $975,000
      4,500 SF

      Renovated Flex Building For Sale

      4,500 SF flex building renovated in 2019 on half acre.
      Lawrence, MA 01841
      View Details
    • $850,000
      4,671 SF

      Well-Maintained Three-Family Property

      Three-family property with updated systems and ample storage.
      22-24 Cedar St., Lawrence, MA 01841
      View Details

    FAQs

    What type of property is this?
    Apartment building - Three-story multifamily property in Lawrence, MA with income growth potential.
    Where is this apartment building located?
    The property is located at 36 Manchester St Lawrence, MA.
    What is the asking price?
    The asking price for this property is $889,000.
    What are key features of this property?
    This property features: Multi‑family property with approximately 5,072 square feet of interior living space.; **Very Walkable location (Walk Score: 86).**; Opportunity for income growth through rent increases.
    (978) 885-6228
    We can help!
    Listing Contact
    Angel Boria
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!