Industrial Flex Warehouse
5-6 Old Essex Rd Ipswich, MA 01938
5-6 Old Essex Rd, Ipswich, MA, 01938
$219,000
Pending
For Sale
$219,000
Pending
Condo warehouse unit with overhead door access, tailboard-height garage bay, and room for office and storage.
Property Size827 SF
Days on Market191
Property Features for 5-6 Old Essex Rd
General Information
- Standard status
- Pending
- Size
- 827 SF
Listing agency
Keller Williams Realty Evolution
(978) 375-6246
Listed by
Kevin Street
(978) 375-6246
Source
Exprealty
Added: Jan 12 Updated: Jul 21 at 10:57PM Checked: Jul 22 at 7:23AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
Unit 5 is located within the Ipswich Dairy Condominium Association and offers a flexible industrial layout designed for a range of contractor and trade uses. The unit includes one garage bay with tailboard height. Access is provided through a newer electric overhead door and also via a passthrough man door into the office area. A ramp could be built for garage access, and the unit includes a storage room and office space.
Convenient access is available to State Route 133 near the Ipswich/Essex line, supporting practical day-to-day operations.
The floor plan may be altered by removing interior walls to create more open, accommodating space for different trades, including light manufacturing and assembly, as well as office or personal workshop and related studio uses. The unit was previously occupied by a building contractor.
Convenient access is available to State Route 133 near the Ipswich/Essex line, supporting practical day-to-day operations.
The floor plan may be altered by removing interior walls to create more open, accommodating space for different trades, including light manufacturing and assembly, as well as office or personal workshop and related studio uses. The unit was previously occupied by a building contractor.
Key Highlights
- Condo warehouse unit in the Ipswich Dairy Condominium Association with convenient access to State Route 133 near the Ipswich/Essex line
- Tailboard‑height 1 garage bay with overhead door access, plus a passthrough man door into the office
- Access options include one newer electric opening overhead door or a man door into the office
Local Financial Insights For Flex RnD
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 | $23.8k | $28.80 |
| − Vacancy | −$1.6k | −$1.96 |
| EGI | $22.2k | $26.84 |
| − OpEx | −$7.8k | −$9.39 |
| NOI | $14.4k | $17.45 |
827 SF · lease $28.80/SF/yr · vacancy 6.80% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$206.1K
$180.4K – $240.5K
NOI $14,429 @ 7.0% cap · market cap 6.59%
Second Best
Warehouse
$152.6K
$133.5K – $178.0K
NOI $10,682 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$489.6K
$428.4K – $571.2K
NOI $34,271 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Condo warehouse unit with overhead door access, tailboard-height garage bay, and room for office and storage.
Where is this flex space located?
The property is located at 5-6 Old Essex Rd Ipswich, MA.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Condo warehouse unit in the Ipswich Dairy Condominium Association with convenient access to State Route 133 near the Ipswich/Essex line; Tailboard‑height 1 garage bay with overhead door access, plus a passthrough man door into the office; Access options include one newer electric opening overhead door or a man door into the office
