Industrial Condo
For Sale
$425,000
51 S Canal St Unit 2, Lawrence, MA 01843
A 2,623-square-foot industrial condominium offers commercial space for sale or lease.
Property Size2,623 SF
Price / SF$162.03
Days on Market48
Property Features for 51 S Canal St Unit 2
General Information
Standard status
Active
Size
2,623 SF
Building Details
Year Built
1966
Listing Agency:
The Stubblebine Company
Listed By:
Alex Smith · License ##9631563
(631) 459-2193
Source:
Gooddeedsrealtypartners
Added: Sep 5
Changed: Oct 12
Last Checked: Oct 7 at 2:09PM
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 The Stubblebine Company
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Investment Insights
Based on property information with market context.
This industrial condominium provides approximately 2,623 square feet of commercial space in a building constructed in 1966. The property is identified as Unit 2 and is offered for sale or lease.
The space is located at 51 S Canal St in Lawrence, Massachusetts, within the 01843 ZIP code. Its industrial classification and condominium format provide a defined commercial unit for occupancy or ownership.
The space is located at 51 S Canal St in Lawrence, Massachusetts, within the 01843 ZIP code. Its industrial classification and condominium format provide a defined commercial unit for occupancy or ownership.
Key Highlights
- 2,623 SF industrial condo space
- Unit 2 at 51 S Canal St
- Built in 1966
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,901
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$558,020
$558.0K
Cap Rate 7%
$398,586
$398.6K
Cap Rate 9%
$310,011
$310.0K
Market Conditions
NOI Build-Up for 2,623 SF
Gross rent
$42.2K $16.08/SF
− Vacancy
−$2.3K −$0.88/SF
EGI
$39.9K $15.20/SF
− OpEx
−$12.0K −$4.56/SF
NOI
$27.9K $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 Rate 5%
$558,020
Cap Rate 7%
$398,586
Cap Rate 9%
$310,011
Alternative Uses
Best Use
Industrial
$398.6K
$348.8K – $465.0K
NOI $27,901 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,696 @ 7.0% cap · market cap 25.58%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,951
Businesses Nearby
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Business Placement
Demographics for 01843, MA
28,346
Population
10,968
Households
2.6
Avg Household Size
34
Median Age
20%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
8,337
Density / Sq Mi
$72,163
Median Household Income
$38,957
Median Earnings
$1,703
Median Rent
$393,700
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Manufacturing property - A 2,623-square-foot industrial condominium offers commercial space for sale or lease.
Where is this manufacturing property located?
The property is located at 51 S Canal St Unit 2 Lawrence, MA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,623 SF industrial condo space; Unit 2 at 51 S Canal St; Built in 1966
