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    Neighborhood Bakery with Apartment Title is generated by Realmo AI

    57 East Street Ipswich, Ipswich, MA 01938

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    For Sale
    $974,500

    Two-level food service and retail setup includes a professional kitchen and a private-entry two-bedroom apartment.

    Property size:
    2,419 SF
    Price / SF:
    $402/SF
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 6 at 5:31 am

    Property Features for 57 East Street Ipswich

    General Information

    Standard status
    Active
    Size
    2,419 SF

    Building Details

    Year Built
    1909

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    Listing Contact
    Amanda Lucido Hodges

    Listing agent Amanda Lucido Hodges

    Listing office

    Listing date Jun 4, 2026

    Source Bournetosellrealestate

    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

    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
    • Includes a 342 sq. ft. out‑building used as extra storage (formerly a bait shop)
    • Convenient parking and close proximity to the Ipswich River boat launch and park

    Overview

    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.
    Location Intelligence

    Current Use by Public Records

    ATM Machine at Little ... Atm Little River Store ... Cafe & Coffee Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ipswich
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8291612
    Latitude
    42.6834117

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    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
    (508) 643-8166
    We can help!
    Listing Contact
    Amanda Lucido Hodges
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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