Restaurant Condo with Kitchen
For Sale
$469,900
Pending
46 Amesbury St 1C, Lawrence, MA 01840
Restaurant condo unit currently occupied by a long-term tenant and includes owner-owned kitchen equipment.
Property Size2,655 SF
Days on Market74
Property Features for 46 Amesbury St 1C
General Information
Standard status
Pending
Size
2,655 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$4,557
Building Details
Building Size
2,655 SF
Year Built
1953
Listed By:
Neily Soto
(978) 423-9447
Source:
Elliman
Added: Jun 23
Changed: Aug 23
Last Checked: Sep 4 at 12:04PM
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 Neily Soto
Investment Insights
Based on property information with market context.
This restaurant condo unit is currently occupied under a long-term tenancy. The space includes all owner-owned kitchen equipment, providing a turnkey foundation for an operator looking to continue restaurant use.
Located at 46 Amesbury St in downtown Lawrence, the area scores highly for walkability (walkScore: 93). Bikeability is moderate (bikeScore: 59), and transit access is described as some transit (transitScore: 47).
For sale as a commercial condo, the offering includes the existing kitchen equipment and an in-place tenant, subject to the terms of the current occupancy.
Located at 46 Amesbury St in downtown Lawrence, the area scores highly for walkability (walkScore: 93). Bikeability is moderate (bikeScore: 59), and transit access is described as some transit (transitScore: 47).
For sale as a commercial condo, the offering includes the existing kitchen equipment and an in-place tenant, subject to the terms of the current occupancy.
Key Highlights
- Commercial condo unit built in 1953, currently occupied by a long‑term tenant
- Restaurant condo unit includes owner‑owned kitchen equipment
- WalkScore: 93 (Walker’s Paradise)
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
$28,241
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
6.01%
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%
$564,820
$564.8K
Cap Rate 7%
$403,443
$403.4K
Cap Rate 9%
$313,789
$313.8K
Market Conditions
NOI Build-Up for 2,655 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
$42.7K $16.08/SF
− Vacancy
−$2.3K −$0.88/SF
EGI
$40.3K $15.20/SF
− OpEx
−$12.1K −$4.56/SF
NOI
$28.2K $10.64/SF
Area
Essex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
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%
$564,820
Cap Rate 7%
$403,443
Cap Rate 9%
$313,789
Alternative Uses
Best Use
Specialty Retail
$701.1K
$613.5K – $817.9K
NOI $49,076 @ 7.0% cap · market cap 10.44%
Second Best
Industrial
$403.4K
$353.0K – $470.7K
NOI $28,241 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$1.57M
$1.38M – $1.83M
NOI $110,023 @ 7.0% cap · market cap 23.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,931
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01840, MA
7,121
Population
3,415
Households
2.1
Avg Household Size
36
Median Age
13%
College-Educated
69%
High-School Grad
0.5 sq mi
ZIP Area
14,242
Density / Sq Mi
$34,630
Median Household Income
$31,930
Median Earnings
$1,174
Median Rent
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant condo unit currently occupied by a long-term tenant and includes owner-owned kitchen equipment.
Where is this conventional restaurant located?
The property is located at 46 Amesbury St 1C Lawrence, MA.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Commercial condo unit built in 1953, currently occupied by a long‑term tenant; Restaurant condo unit includes owner‑owned kitchen equipment; WalkScore: 93 (Walker’s Paradise)
