Top-Floor Medical Office
For Sale
$689,000
402-25 Marston St, Lawrence, MA 01841
Medical office suite with exam rooms, private offices, a kitchen, three bathrooms, and garage parking near Lawrence General Hospital.
Property Size2,725 SF
Price / SF$252.84
Days on Market132
Property Features for 402-25 Marston St
General Information
Standard status
Active
Size
2,725 SF
Additional Details
Floor
Top Floor
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,688
Listing Agency:
Compass
(978) 880-8095
Listed By:
The Lush Group
(978) 880-8095
Source:
Exprealty
Added: Mar 31
Changed: Aug 7
Last Checked: Aug 8 at 8:34AM
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 Compass
Investment Insights
Based on property information with market context.
This top-floor medical office suite at Marston Medical Center provides 2,725 square feet for a professional practice. The interior features 13-foot ceilings, exposed brick, oversized windows, hardwood and retro checkered flooring, and a reception area. Multiple exam rooms and offices are complemented by a full kitchen and three bathrooms.
The property includes garage parking for staff and patients. Its location is near Lawrence General Hospital and I-495, offering convenient access for the practice’s daily operations and visitors.
The property includes garage parking for staff and patients. Its location is near Lawrence General Hospital and I-495, offering convenient access for the practice’s daily operations and visitors.
Key Highlights
- 2,725‑square‑foot top‑floor suite at Marston Medical Center
- 13‑foot ceilings, exposed brick, and oversized windows
- Multiple exam rooms and private offices
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
$50,266
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
7.30%
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%
$1,005,320
$1.0M
Cap Rate 7%
$718,086
$718.1K
Cap Rate 9%
$558,511
$558.5K
Market Conditions
NOI Build-Up for 2,725 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
$91.6K $33.60/SF
− Vacancy
−$7.8K −$2.86/SF
EGI
$83.8K $30.74/SF
− OpEx
−$33.5K −$12.30/SF
NOI
$50.3K $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 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%
$1,005,320
Cap Rate 7%
$718,086
Cap Rate 9%
$558,511
Alternative Uses
Best Use
Office B
$1.09M
$949.4K – $1.27M
NOI $75,954 @ 7.0% cap · market cap 11.02%
Second Best
Healthcare Medical
$718.1K
$628.3K – $837.8K
NOI $50,266 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,923 @ 7.0% cap · market cap 16.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office suite with exam rooms, private offices, a kitchen, three bathrooms, and garage parking near Lawrence General Hospital.
Where is this medical office space located?
The property is located at 402-25 Marston St Lawrence, MA.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: 2,725‑square‑foot top‑floor suite at Marston Medical Center; 13‑foot ceilings, exposed brick, and oversized windows; Multiple exam rooms and private offices
