Ipswich Flex Space with
For Sale
$499,000
6 Old Essex Rd. 6, Ipswich, MA 01938
Flex space with office, suitable for various business uses.
Property Size1,628 SF
Days on Market172
Property Features for 6 Old Essex Rd. 6
General Information
Standard status
Active
Size
1,628 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,048
Building Details
Building Size
1,628 SF
Year Built
1990
Listing Agency:
Keller Williams Realty Evolution
Listed By:
Kevin Street
(978) 375-6246
Source:
Elliman
Added: Apr 27
Changed: Oct 11
Last Checked: Oct 15 at 2:26AM
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 6 is located in the Ipswich Dairy Condominium Association, offering convenient access to State Route 133 near the Ipswich Essex line. The unit features two garage bays, an open work/warehouse space, and an office area, all illuminated by modern overhead LED lighting. Access is facilitated by two newer electric opening overhead doors and one passthrough man door. The interior is fresh and clean, with original unit plan interior walls removed, except for the office space. This space can accommodate a variety of trades, including contractors, electricians, mechanical services, light manufacturing, or serve as an office, personal workshop, warehouse, or art studio. An additional 827 square feet of space can be acquired with the purchase of common wall Unit 5. The location has a bike score of 24, indicating it is somewhat bikeable, and a walk score of 6, suggesting car dependence.
Key Highlights
- Convenient access to State Route 133 near the Ipswich Essex line.
- Two garage bays with newer electric opening overhead doors.
- Open work/warehouse space and office with modern overhead LED lighting.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,404
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,080
$568.1K
Cap Rate 7%
$405,771
$405.8K
Cap Rate 9%
$315,600
$315.6K
Market Conditions
NOI Build-Up for 1,628 SF
Gross rent
$46.9K $28.80/SF
− Vacancy
−$3.2K −$1.96/SF
EGI
$43.7K $26.84/SF
− OpEx
−$15.3K −$9.39/SF
NOI
$28.4K $17.45/SF
Area
Essex County, MA
Vacancy
6.80%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,080
Cap Rate 7%
$405,771
Cap Rate 9%
$315,600
Alternative Uses
Best Use
Flex RnD
$405.8K
$355.1K – $473.4K
NOI $28,404 @ 7.0% cap · market cap 5.69%
Second Best
Industrial
$247.4K
$216.5K – $288.6K
NOI $17,317 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$963.8K
$843.3K – $1.12M
NOI $67,464 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01938, MA
13,785
Population
6,270
Households
2.2
Avg Household Size
51
Median Age
57%
College-Educated
98%
High-School Grad
32.1 sq mi
ZIP Area
429
Density / Sq Mi
$124,405
Median Household Income
$62,161
Median Earnings
$1,525
Median Rent
$701,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Chrissi's Cafe & Fine Catering — 8 Hayward St, Ipswich, MA 01938
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with office, suitable for various business uses.
Where is this flex space located?
The property is located at 6 Old Essex Rd. 6 Ipswich, MA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Convenient access to State Route 133 near the Ipswich Essex line.; Two garage bays with newer electric opening overhead doors.; Open work/warehouse space and office with modern overhead LED lighting.**
