Flex Space with Garage
For Sale
$499,000
6 Old Essex Rd., Ipswich, MA 01938
Commercial Sale, Ipswich, MA
Property Size1,628 SF
Lot Size2.40 Acres
Price / SF$306.51
Days on Market281
Property Features for 6 Old Essex Rd.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RRA
Zoning description
Legal Non-Conforming
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Directions
RTE 133 to Northgate Rd. to Old Essex Rd.
Standard status
Active
APN
06400136,3995734
Size
1,628 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2048
HOA Fee
$160 Monthly
Building Details
Year built
1990
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
Added: Jan 12
Changed: Oct 16
Last Checked: Oct 20 at 12:06PM
MLS# 73467382
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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.
Unit 6 is a 1,628-square-foot flex property within the Ipswich Dairy Condominium Association. Built in 1990, the unit combines two garage bays with open work and warehouse area, office space, and two newer electric overhead doors. A separate man door provides additional entry, while modern overhead LED lighting supports the interior workspace. Bathroom facilities are also included.
The property is located at 6 Old Essex Rd. in Ipswich, Massachusetts, with access to State Route 133 near the Ipswich-Essex line. RRA zoning is identified for the property, and three-phase electrical service and gas service are available at the building. The layout can accommodate open-space operations, office use, light manufacturing, logistics functions, trades, or a personal workshop, subject to applicable requirements.
The property is located at 6 Old Essex Rd. in Ipswich, Massachusetts, with access to State Route 133 near the Ipswich-Essex line. RRA zoning is identified for the property, and three-phase electrical service and gas service are available at the building. The layout can accommodate open-space operations, office use, light manufacturing, logistics functions, trades, or a personal workshop, subject to applicable requirements.
Key Highlights
- 1,628‑square‑foot flex unit with two garage bays
- Two newer electric overhead doors plus one pass‑through man door
- Open work and warehouse area with dedicated 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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Two-bay commercial unit with open work area, office space, modern LED lighting, and electric overhead doors.
Where is this flex space located?
The property is located at 6 Old Essex Rd. 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: 1,628‑square‑foot flex unit with two garage bays; Two newer electric overhead doors plus one pass‑through man door; Open work and warehouse area with dedicated office space
