Flex Warehouse with Office
For Sale
$499,000
6 Old Essex Rd. # 6, Ipswich, MA 01938
Clean flex unit with two overhead garage bays and office space for a range of trades and light manufacturing uses.
Property Size1,628 SF
Price / SF$306.51
Days on Market279
Property Features for 6 Old Essex Rd. # 6
General Information
Standard status
Active
Size
1,628 SF
Property subtype
Commercial
Zoning
RRA
Additional Details
Highway Access
Yes
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$2,048
Building Details
Building Size
1,628 SF
Year Built
1990
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Kevin Street
(978) 375-6246
Source:
Churchillprop
Added: Jan 12
Changed: Oct 6
Last Checked: Oct 16 at 6:47AM
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
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Investment Insights
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Unit 6 in the Ipswich Dairy Condominium Association offers a flexible layout with two garage bays, open work/warehouse space, and an office area. The unit has modern overhead LED lighting and is described as fresh and clean. Interior unit plan walls were removed, with the office space kept as the exception, creating a more open configuration for practical day-to-day operations. Access is provided by two newer electric overhead doors plus a separate passthrough man door.
The unit is located with convenient access to State Route 133 near the Ipswich/Essex line. This setting supports frequent business trips and service access, and the condominium format provides a defined unit offering within the larger property.
For tenants, buyers, or operators, the combination of overhead-door access, open warehouse/work area, and a dedicated office suits contractors, electricians, mechanical services, light manufacturing, and other trades needing both workspace and administrative space. The unit’s open interior configuration and multiple entry points also make it workable as a personal workshop, warehouse, or art studio, depending on use needs. Additional space is available for acquisition through the purchase of common wall Unit 5, allowing expansion within the condominium arrangement.
The unit is located with convenient access to State Route 133 near the Ipswich/Essex line. This setting supports frequent business trips and service access, and the condominium format provides a defined unit offering within the larger property.
For tenants, buyers, or operators, the combination of overhead-door access, open warehouse/work area, and a dedicated office suits contractors, electricians, mechanical services, light manufacturing, and other trades needing both workspace and administrative space. The unit’s open interior configuration and multiple entry points also make it workable as a personal workshop, warehouse, or art studio, depending on use needs. Additional space is available for acquisition through the purchase of common wall Unit 5, allowing expansion within the condominium arrangement.
Key Highlights
- 1990‑built flex unit in the Ipswich Dairy Condominium Association near State Route 133
- Includes 2 garage bays plus open work/warehouse space and office area
- Modern overhead LED lighting and office space
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
Warehouse
$300.4K
$262.9K – $350.5K
NOI $21,028 @ 7.0% cap · market cap 4.21%
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.
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Open Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Well-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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Clean flex unit with two overhead garage bays and office space for a range of trades and light manufacturing 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: 1990‑built flex unit in the Ipswich Dairy Condominium Association near State Route 133; Includes 2 garage bays plus open work/warehouse space and office area; Modern overhead LED lighting and office space
