Third-Floor Office Condominium
For Sale
Contact for pricing
491 Maple St # 206, Danvers, MA 01923
Well-maintained office condo with vaulted ceilings, private offices, elevator access, and assigned parking for clients.
Property Size1,000 SF
Price / SF$2.50
Days on Market204
Property Features for 491 Maple St # 206
General Information
Standard status
Active
Size
1,000 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
R3
Taxes and HOA fees
Annual Taxes
$2,302
Building Details
Building Size
1,000 SF
Year Built
1988
Listing Agency:
NextStep Properties, Inc.
Listed By:
Donna Conway · License #449540119
(617) 794-5447
Source:
Churchillprop
Added: Mar 31
Changed: Oct 12
Last Checked: Oct 19 at 4:49AM
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 NextStep Properties, Inc.
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Investment Insights
Based on property information with market context.
Located at 491 Maple Street, this well-maintained third-floor commercial condominium offers a professional office layout with vaulted ceilings. The suite includes a large private office, an additional open-concept area, and an eat-in kitchen with closet space. Two private bathrooms are provided within the unit, and elevator service supports convenient access to the third level.
The property is situated off Route 1 in Danvers, also listed on Route 62. The condominium includes two assigned parking spaces, plus plenty of visitor parking for clients. Common-area maintenance is handled through the association, including professional landscaping, snow removal, and trash service.
This space suits buyers looking for an office condominium with dedicated interior amenities and a straightforward floor plan for day-to-day operations. With private office space, open work areas, kitchen convenience, and two in-unit bathrooms, it can accommodate a range of professional uses. The building’s elevator access and on-site parking help support client visits and employee commuting, and the condo is ready for immediate occupancy.
The property is situated off Route 1 in Danvers, also listed on Route 62. The condominium includes two assigned parking spaces, plus plenty of visitor parking for clients. Common-area maintenance is handled through the association, including professional landscaping, snow removal, and trash service.
This space suits buyers looking for an office condominium with dedicated interior amenities and a straightforward floor plan for day-to-day operations. With private office space, open work areas, kitchen convenience, and two in-unit bathrooms, it can accommodate a range of professional uses. The building’s elevator access and on-site parking help support client visits and employee commuting, and the condo is ready for immediate occupancy.
Key Highlights
- Well‑maintained 3rd‑floor commercial condominium at 491 Maple Street (Rt 62) built in 1988
- Vaulted ceilings plus a large private office and remaining open‑concept space
- Separate eat‑in kitchen and closet space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,873
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,460
$557.5K
Cap Rate 7%
$398,186
$398.2K
Cap Rate 9%
$309,700
$309.7K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$45.6K $45.60/SF
− Vacancy
−$8.4K −$8.44/SF
EGI
$37.2K $37.16/SF
− OpEx
−$9.3K −$9.29/SF
NOI
$27.9K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,460
Cap Rate 7%
$398,186
Cap Rate 9%
$309,700
Alternative Uses
Best Use
Office B
$398.2K
$348.4K – $464.6K
NOI $27,873 @ 7.0% cap · market cap 1,114.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$592.0K
$518.0K – $690.7K
NOI $41,440 @ 7.0% cap · market cap 1,657.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 01923, MA
27,987
Population
11,405
Households
2.5
Avg Household Size
46
Median Age
47%
College-Educated
95%
High-School Grad
13.2 sq mi
ZIP Area
2,120
Density / Sq Mi
$117,072
Median Household Income
$59,916
Median Earnings
$2,004
Median Rent
$611,200
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Well-maintained office condo with vaulted ceilings, private offices, elevator access, and assigned parking for clients.
Where is this office unit located?
The property is located at 491 Maple St # 206 Danvers, MA.
What are key features of this property?
This property features: Well‑maintained 3rd‑floor commercial condominium at 491 Maple Street (Rt 62) built in 1988; Vaulted ceilings plus a large private office and remaining open‑concept space; Separate eat‑in kitchen and closet space
