Mixed-Use Development with
499 Essex Street # Right Side, Lawrence, MA 01840
For Sale
Contact for pricing
Retail space is planned within a six-story project that also includes residential units.
Property Size1,705 SF
Price / SF$1.88
Days on Market299
Property Features for 499 Essex Street # Right Side
General Information
Standard status
Size
Property subtype
Zoning
Lease Type
Building Details
Building Size
Year Built
Listing Agency:
Empire Real EstateTM
(978) 662-1981
Listed By:
George Silva · License MA #9506309
(978) 965-3554
Source:
Churchillprop
Added: Jan 21
Changed: Nov 9
Last Checked: Nov 14 at 3:37AM
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 Empire Real EstateTM
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A six-story mixed-use development is planned at 499 Essex Street, with retail boutiques and residential living spaces. Retail spaces are being offered in varying sizes, with plans for completion in late fall 2027.
The property is on Essex Street in Lawrence, Massachusetts. Retail space is described as suitable for retail or medical use.
The property is on Essex Street in Lawrence, Massachusetts. Retail space is described as suitable for retail or medical use.
Key Highlights
- Planned six‑story development with retail and residential components
- Retail spaces offered in various sizes
- Completion planned for late fall 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,014
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,280
$560.3K
Cap Rate 7%
$400,200
$400.2K
Cap Rate 9%
$311,267
$311.3K
Market Conditions
NOI Build-Up for 1,705 SF
Gross rent
$40.9K $24.00/SF
− Vacancy
−$900 −$0.53/SF
EGI
$40.0K $23.47/SF
− OpEx
−$12.0K −$7.04/SF
NOI
$28.0K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,280
Cap Rate 7%
$400,200
Cap Rate 9%
$311,267
Alternative Uses
Best Use
Mixed Use
$493.2K
$431.6K – $575.4K
NOI $34,526 @ 7.0% cap
Second Best
Retail
$400.2K
$350.2K – $466.9K
NOI $28,014 @ 7.0% cap
Theoretical Best
Office A
$1.01M
$883.2K – $1.18M
NOI $70,655 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,931
Businesses Nearby
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
$1,174
Median Rent
Market
Average Price Trend$/SF for Mixed-use properties in Essex County, MA
Properties on Market for Mixed-use properties in Essex County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space is planned within a six-story project that also includes residential units.
Where is this mixed-use property located?
The property is located at 499 Essex Street # Right Side Lawrence, MA.
What are key features of this property?
This property features: Planned six‑story development with retail and residential components; Retail spaces offered in various sizes; Completion planned for late fall 2027
