Neighborhood Bakery with
57 East Street Ipswich Ipswich, MA 01938
57 East Street Ipswich, Ipswich, MA, 01938
$974,500
For Sale
$974,500
Two-level food service and retail setup includes a professional kitchen and a private-entry two-bedroom apartment.
Property Size2,419 SF
Price / SF$402.85
Days on Market303
Property Features for 57 East Street Ipswich
General Information
- Standard status
- Active
- Size
- 2,419 SF
Building Details
- Year Built
- 1909
Listing agency
(508) 643-8166
Listed by
Amanda Lucido Hodges
(508) 643-8166
Source
Bournetosellrealestate
Added: Sep 23, 2025 Updated: Jul 6 at 2:43PM Checked: Jul 21 at 3:36AM
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 Amanda Lucido Hodges
Investment Insights
Based on property information with market context.
This property combines a neighborhood-focused food and retail operation with residential space. The first floor includes a professional industrial kitchen that is currently set up as a bakery serving lunch and dinner, along with retail convenience components described in the listing. The second floor offers a two-bedroom, one-bath apartment with a large living room/dining room and a private entrance. An out-building of 342 square feet, previously used as a bait shop and currently used for extra storage, adds additional operational flexibility.
The property is located on East Street in Ipswich and is described as being a short distance to the Ipswich River. The Ipswich River boat launch and park are noted as moments away. Convenient parking and visibility are also highlighted in the remarks, supporting day-to-day customer access for the retail and food service uses.
For operators and buyers seeking an income-producing live-work arrangement, the configuration allows the food service and retail operation to run on the main level while the separate apartment provides an additional use within the same building. The presence of a fully equipped kitchen and on-site storage supports ongoing food preparation and service, while the private entrance to the apartment offers practical separation between commercial and residential access.
The property is located on East Street in Ipswich and is described as being a short distance to the Ipswich River. The Ipswich River boat launch and park are noted as moments away. Convenient parking and visibility are also highlighted in the remarks, supporting day-to-day customer access for the retail and food service uses.
For operators and buyers seeking an income-producing live-work arrangement, the configuration allows the food service and retail operation to run on the main level while the separate apartment provides an additional use within the same building. The presence of a fully equipped kitchen and on-site storage supports ongoing food preparation and service, while the private entrance to the apartment offers practical separation between commercial and residential access.
Key Highlights
- 1909 two‑level property with food service/retail setup and a private‑entry 2‑bedroom, 1‑bath apartment on the second floor
- First floor includes a professional industrial kitchen set up for high‑volume food service (currently a bakery serving lunch and dinner)
- Continued use described for neighborhood bakery/restaurant/convenience store/retail package store with wine and malt beverages
Local Financial Insights For Specialty 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 | $61.0k | $25.20 |
| − Vacancy | −$1.3k | −$0.55 |
| EGI | $59.6k | $24.65 |
| − OpEx | −$14.9k | −$6.16 |
| NOI | $44.7k | $18.48 |
2,419 SF · lease $25.20/SF/yr · vacancy 2.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$638.8K
$558.9K – $745.2K
NOI $44,713 @ 7.0% cap · market cap 4.59%
Second Best
Retail
$567.8K
$496.8K – $662.4K
NOI $39,745 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,243 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ATM Machine at Little ...
Atm
Little River Store ...
Cafe & Coffee Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two-level food service and retail setup includes a professional kitchen and a private-entry two-bedroom apartment.
Where is this conventional restaurant located?
The property is located at 57 East Street Ipswich Ipswich, MA.
What is the asking price?
The asking price for this property is $974,500.
What are key features of this property?
This property features: 1909 two‑level property with food service/retail setup and a private‑entry 2‑bedroom, 1‑bath apartment on the second floor; First floor includes a professional industrial kitchen set up for high‑volume food service (currently a bakery serving lunch and dinner); Continued use described for neighborhood bakery/restaurant/convenience store/retail package store with wine and malt beverages
