Mixed-Use Property with
New
For Sale
Contact for pricing
601 South Union Street Unit 3, Lawrence, MA 01843
A two-level layout pairs ground-floor retail space with substantial office area upstairs.
Property Size2,128 SF
Price / SF$1.79
Days on Market4
Property Features for 601 South Union Street Unit 3
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
Empire Real EstateTM
(978) 662-1981
Listed By:
George Silva · License #9506309
(978) 965-3554
Source:
Lockandkeyre
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 2:44PM
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
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Investment Insights
Based on property information with market context.
This mixed-use property contains 2,128 square feet across two floors, with retail space at street level and a large office component on the second floor. The building dates to 1900.
The property is at 601 South Union Street, Unit 3, in Lawrence, Massachusetts. Street-level exposure and signage are noted as features of the site.
The property is at 601 South Union Street, Unit 3, in Lawrence, Massachusetts. Street-level exposure and signage are noted as features of the site.
Key Highlights
- 2,128 square feet of mixed‑use space
- Street‑level retail with a large second‑floor office component
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,964
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,280
$699.3K
Cap Rate 7%
$499,486
$499.5K
Cap Rate 9%
$388,489
$388.5K
Market Conditions
NOI Build-Up for 2,128 SF
Gross rent
$51.1K $24.00/SF
− Vacancy
−$1.1K −$0.53/SF
EGI
$49.9K $23.47/SF
− OpEx
−$15.0K −$7.04/SF
NOI
$35.0K $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%
$699,280
Cap Rate 7%
$499,486
Cap Rate 9%
$388,489
Alternative Uses
Best Use
Mixed Use
$615.6K
$538.7K – $718.2K
NOI $43,092 @ 7.0% cap · market cap 1,134.00%
Second Best
Retail
$499.5K
$437.1K – $582.7K
NOI $34,964 @ 7.0% cap · market cap 920.11%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,184 @ 7.0% cap · market cap 2,320.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
149k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 33%
Apparel 18%
Marshalls
Apparel
23,227 visits/mo
0.3 miles
Wendy's
Dining
21,391 visits/mo
0.3 miles
Taco Bell
Dining
16,440 visits/mo
0.3 miles
Starbucks
Dining
15,854 visits/mo
0.3 miles
Cumberland Farms
Shops & Services
15,508 visits/mo
0.4 miles
Demographics for 01843, MA
28,346
Population
10,968
Households
2.6
Avg Household Size
34
Median Age
20%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
8,337
Density / Sq Mi
$72,163
Median Household Income
$38,957
Median Earnings
$1,703
Median Rent
$393,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A two-level layout pairs ground-floor retail space with substantial office area upstairs.
Where is this mixed-use property located?
The property is located at 601 South Union Street Unit 3 Lawrence, MA.
What are key features of this property?
This property features: 2,128 square feet of mixed‑use space; Street‑level retail with a large second‑floor office component; Built in 1900
