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Renovated Office Building in Wakefield

45 Albion St, Wakefield, MA 01880

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For Sale

$1,695,000

Turn-key office building with recent renovations and expansion.

Type:Commercial

Property size:

2,700 SF

Price / SF:

$627/SF

Listing Contact

Christopher Barrett

Real Estate License ID: 9533397

HighLights

Completely renovated in 2024 with new 2nd floor addition.
Prime location in Wakefield Business District, close to downtown and commuter rail.
Move‑in ready condition with new Hardie board siding, PVC trim, windows, roof, Trex decking, plumbing, wiring, mini splits, and LifeProof vinyl floors.
Off‑street parking for 10/11 cars.
Versatile space suitable for single or multi‑tenant use.
Executive corner office with private lav and 22‑foot open‑air porch.

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For Sale

$1,695,000

Turn-key office building with recent renovations and expansion.

Type:Commercial

Property size:

2,700 SF

Price / SF:

$627/SF

Added:: Apr 23, 2026
Days on Market:: 50
Last Refresh:: Apr 23 at 10:35 am

Property Features for 45 Albion St

General Information

Standard status: Active
Size: 2,700 SF
Property subtype: Commercial

Building Details

Year Built: 1900

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Listing Contact

Christopher Barrett

Listing agent Christopher Barrett License #9533397

Listing office Barrett, Chris. J., REALTORSÂ

Listing date Apr 23, 2026

Source Alliancepartnersre

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 Barrett, Chris. J., REALTORSÂ

HighLights

Completely renovated in 2024 with new 2nd floor addition.
Prime location in Wakefield Business District, close to downtown and commuter rail.
Move‑in ready condition with new Hardie board siding, PVC trim, windows, roof, Trex decking, plumbing, wiring, mini splits, and LifeProof vinyl floors.
Off‑street parking for 10/11 cars.
Versatile space suitable for single or multi‑tenant use.
Executive corner office with private lav and 22‑foot open‑air porch.

Overview

Located in the Albion St., Wakefield Business district, this office building offers close proximity to downtown and commuter rail. The property has been completely renovated, including a new 2nd-floor addition in 2024. Exterior features include new Hardie board siding, PVC trim, windows, roof, and Trex decking. Interior upgrades consist of new plumbing, wiring, mini splits, life-proof vinyl floors, and motion-controlled security lighting. The 1,500 square-foot first floor features a two-story open-concept entry foyer with a winding staircase, a reception area, five offices, and two lavatories, one with exclusive office access. The 1,200 square-foot second floor includes four offices, two lavatories including one executive corner office with a private lavatory, and a 22-foot open-air porch. The finished lower level contains a 25x14 conference room/kitchenette, an office, and a utility room. An outside employee patio and seating area are also available. The building is suited for a single-use tenant but could be adapted for multi-tenant use. Off-street parking is available for 10 or 11 cars.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$146.4k	$54.24
− Vacancy	−$32.2k	−$11.93
EGI	$114.2k	$42.31
− OpEx	−$28.6k	−$10.58
NOI	$85.7k	$31.73

2,700 SF · lease $54.24/SF/yr · vacancy 22.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,672 @ 7.0% cap · market cap 5.05%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.60M

$1.40M – $1.86M (±1% cap)

NOI $111,887 @ 7.0% cap · market cap 6.60%

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

Location Intelligence

Current Use by Public Records

Best Home Care Home Health Care Service

Suggested Use

Location Insight

Map
Local Demand

City: Wakefield
County: Middlesex
State: Massachusetts
Longitude: -71.0724282
Latitude: 42.5032407

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For sale
Office buildings
MA
Wakefield
01880
45 Albion St

What type of property is this?

Office building - Turn-key office building with recent renovations and expansion.

Where is this office building located?

The property is located at 45 Albion St Wakefield, MA.

What is the asking price?

The asking price for this property is $1,695,000.

What are key features of this property?

This property features: Completely renovated in 2024 with new 2nd floor addition.; Prime location in Wakefield Business District, close to downtown and commuter rail.; Move‑in ready condition with **new Hardie board siding, PVC trim, windows, roof, Trex decking, plumbing, wiring, mini splits, and LifeProof vinyl floors.**