Downtown Creative Mixed-Use
464-468 Essex Street Lawrence, MA 01840
464-468 Essex Street, Lawrence, MA, 01840
$1,149,900
For Sale
$1,149,900
Former TV station with above-grade office and retail plus a fully built-out production basement.
Property Size5,500 SF
Price / SF$209.07
Days on Market132
Property Features for 464-468 Essex Street
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing agency
Liriano Realty
Listed by
The Liriano Team
(617) 846-8000
Source
Highlandre
Added: Mar 13 Updated: Jul 22 at 2:09AM Checked: Jul 22 at 2:09AM
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 Liriano Realty
Investment Insights
Based on property information with market context.
This downtown Lawrence commercial building was formerly used as a TV station and recording studio, with a mix of retail, office, and production space. The layout includes approximately 5,500 square feet above grade, comprised of about 3,500 square feet of office area and about 2,000 square feet of retail. A fully built-out lower level is currently used for studio and production space.
The property is located in the Central Business District on Essex Street, with access to public transportation. Improvements and operational features include two restrooms, handicap access, 10-foot ceilings, 220V power, public utilities, and natural gas. Fire and life safety is described as fully compliant with wet sprinkler and new smoke detection. The roof and HVAC have been updated, and the interior has fresh paint throughout.
On-site parking is available with seven spaces. The building is described as having no deferred maintenance and is positioned for office, retail, or creative use.
The property is located in the Central Business District on Essex Street, with access to public transportation. Improvements and operational features include two restrooms, handicap access, 10-foot ceilings, 220V power, public utilities, and natural gas. Fire and life safety is described as fully compliant with wet sprinkler and new smoke detection. The roof and HVAC have been updated, and the interior has fresh paint throughout.
On-site parking is available with seven spaces. The building is described as having no deferred maintenance and is positioned for office, retail, or creative use.
Key Highlights
- 10,000 SF downtown Lawrence commercial building (approx. 5,500 SF above grade office/retail plus fully built‑out production basement)
- Former TV station setup with built‑out studio/production lower level and 2 restrooms
- Layout includes approx. 3,500 SF office and 2,000 SF retail above grade
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.0k | $24.00 |
| − Vacancy | −$2.9k | −$0.53 |
| EGI | $129.1k | $23.47 |
| − OpEx | −$38.7k | −$7.04 |
| NOI | $90.4k | $16.43 |
5,500 SF · lease $24.00/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Office B
$2.19M
$1.92M – $2.56M
NOI $153,302 @ 7.0% cap · market cap 13.33%
Second Best
Retail
$1.29M
$1.13M – $1.51M
NOI $90,367 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $227,919 @ 7.0% cap · market cap 19.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Creative space
Similar For Sale Nearby
FAQs
What type of property is this?
Creative space - Former TV station with above-grade office and retail plus a fully built-out production basement.
Where is this creative space located?
The property is located at 464-468 Essex Street Lawrence, MA.
What is the asking price?
The asking price for this property is $1,149,900.
What are key features of this property?
This property features: 10,000 SF downtown Lawrence commercial building (approx. 5,500 SF above grade office/retail plus fully built‑out production basement); Former TV station setup with built‑out studio/production lower level and 2 restrooms; Layout includes approx. 3,500 SF office and 2,000 SF retail above grade
