Corner Retail
582 Essex Street 6 R, Lawrence, MA 01841
For Sale
Contact for pricing
A storefront unit offers access from both the adjoining parking lot and the street.
Property Size800 SF
Price / SF$3.38
Days on Market45
Property Features for 582 Essex Street 6 R
General Information
Standard status
Size
Site & Location
Corner Location
Road Access
Building Details
Year Built
Listing Agency:
Empire Real EstateTM
(978) 662-1981
Listed By:
George Silva · License MA #9506309
(978) 965-3554
Source:
Lockandkeyre
Added: Sep 30
Changed: Nov 12
Last Checked: Nov 12 at 8:19AM
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.
This 800-square-foot retail space is configured as a storefront unit within a building constructed in 1976. Its corner position at Broadway and Essex Street provides two access points: from the adjoining parking lot and from the street. Storefront windows and permitted signage offer additional ways to identify the space to passersby.
Key Highlights
- 800 square feet of retail space
- Corner location at Broadway and Essex Street
- Access from the adjoining parking lot or the street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,144
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,880
$262.9K
Cap Rate 7%
$187,771
$187.8K
Cap Rate 9%
$146,044
$146.0K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$19.2K $24.00/SF
− Vacancy
−$422 −$0.53/SF
EGI
$18.8K $23.47/SF
− OpEx
−$5.6K −$7.04/SF
NOI
$13.1K $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%
$262,880
Cap Rate 7%
$187,771
Cap Rate 9%
$146,044
Alternative Uses
Best Use
Retail
$187.8K
$164.3K – $219.1K
NOI $13,144 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$473.6K
$414.4K – $552.5K
NOI $33,152 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,644
Businesses Nearby
Explore this area
Business Placement
Demographics for 01841, MA
53,654
Population
17,546
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
3.0 sq mi
ZIP Area
17,885
Density / Sq Mi
$54,525
Median Household Income
$34,741
Median Earnings
$1,565
Median Rent
$393,800
Median Home Value
Market
Average Price Trend$/SF for Retail space in Essex County, MA
Properties on Market for Retail space in Essex County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - A storefront unit offers access from both the adjoining parking lot and the street.
Where is this retail space located?
The property is located at 582 Essex Street 6 R Lawrence, MA.
What are key features of this property?
This property features: 800 square feet of retail space; Corner location at Broadway and Essex Street; Access from the adjoining parking lot or the street
