Corner Office
39 Cross Street #207, Peabody, MA 01960
For Sale
New
Contact for pricing
The layout combines three enclosed offices with a larger open work area and high ceilings.
Property Size1,904 SF
Price / SF$0.01
Days on Market4
Property Features for 39 Cross Street #207
General Information
Standard status
Size
Elevators
Property subtype
Site & Location
Highway Access
Road Access
Additional Details
Property Use
Medical Specialty
Amenities
handicap accessible
Building Details
Year Built
Listing Agency:
Carney & Company
Listed By:
Cynthia C. Carney · License #121421
(978) 531-3630
Source:
Lockandkeyre
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 6 at 9:16AM
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 Carney & Company
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Investment Insights
Based on property information with market context.
This corner office suite at 39 Cross Street includes three private offices, a substantial open area, high ceilings, and large windows that open. The building provides elevator access, handicap accessibility, plentiful parking, and a private garage space beneath the property. Build-to-suit work is available.
The property sits near the junction of Route 114 and Routes 128 and 95, beside North Shore Shopping Center. Nearby businesses and services include Macy’s, Legal Sea Foods, Eastern Bank, the Peabody Post Office, Barnes & Noble, a coffee bistro, and Marriott. The building was constructed in 1994.
The property sits near the junction of Route 114 and Routes 128 and 95, beside North Shore Shopping Center. Nearby businesses and services include Macy’s, Legal Sea Foods, Eastern Bank, the Peabody Post Office, Barnes & Noble, a coffee bistro, and Marriott. The building was constructed in 1994.
Key Highlights
- Three offices plus a large open area
- Operable windows and high ceilings
- Private garage space beneath the building, accessible by elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,122
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,440
$702.4K
Cap Rate 7%
$501,743
$501.7K
Cap Rate 9%
$390,244
$390.2K
Market Conditions
NOI Build-Up for 1,904 SF
Gross rent
$64.0K $33.60/SF
− Vacancy
−$5.4K −$2.86/SF
EGI
$58.5K $30.74/SF
− OpEx
−$23.4K −$12.30/SF
NOI
$35.1K $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%
$702,440
Cap Rate 7%
$501,743
Cap Rate 9%
$390,244
Alternative Uses
Best Use
Office B
$758.1K
$663.4K – $884.5K
NOI $53,070 @ 7.0% cap · market cap 294,833.33%
Second Best
Healthcare Medical
$501.7K
$439.0K – $585.4K
NOI $35,122 @ 7.0% cap · market cap 195,122.22%
Theoretical Best
Office A
$1.13M
$986.3K – $1.32M
NOI $78,901 @ 7.0% cap · market cap 438,338.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,699
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Essex County, MA
Properties on Market for Office Units in Essex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The layout combines three enclosed offices with a larger open work area and high ceilings.
Where is this office unit located?
The property is located at 39 Cross Street #207 Peabody, MA.
What are key features of this property?
This property features: Three offices plus a large open area; Operable windows and high ceilings; Private garage space beneath the building, accessible by elevator
