Flex Space With Drive-In
New
For Sale
Contact for pricing
72R Holten St, Danvers, MA 01923
The rear-building unit has private offices above and four off-street spaces reserved for commercial tenants.
Property Size2,213 SF
Price / SF$1.58
Days on Market4
Property Features for 72R Holten St
General Information
Standard status
Active
Size
2,213 SF
Total Parking Spaces
4
Property subtype
Commercial
Additional Details
Drive-In Doors
2
Building Details
Year Built
1985
Listing Agency:
The Mega Group
(978) 762-9771
Listed By:
Brian DApice · License #9538300
(978) 922-6400
Source:
Lockandkeyre
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 24 at 3:10PM
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 The Mega Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex space occupies the rear building of a mixed-use property, with residential use at the front and industrial use behind. The unit has two drive-in doors measuring approximately 18 by 10 feet, along with two private offices on the upper level and access to a common bathroom. Four off-street parking spaces are reserved for commercial tenants. The lease is structured on standard NNN terms. Automobile repair, auto body, and granite countertop uses are excluded.
The property is just off Danvers Square, with access to Routes 95 and 1 to the west and Route 128 to the east. Liberty Tree Mall and Route 114 are also accessible from the site.
The property is just off Danvers Square, with access to Routes 95 and 1 to the west and Route 128 to the east. Liberty Tree Mall and Route 114 are also accessible from the site.
Key Highlights
- Two drive‑in doors, each approximately 18 x 10 feet
- Two private offices located above the main space
- Four exclusive off‑street parking spaces for commercial tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,540
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,800
$470.8K
Cap Rate 7%
$336,286
$336.3K
Cap Rate 9%
$261,556
$261.6K
Market Conditions
NOI Build-Up for 2,213 SF
Gross rent
$35.6K $16.08/SF
− Vacancy
−$2.0K −$0.88/SF
EGI
$33.6K $15.20/SF
− OpEx
−$10.1K −$4.56/SF
NOI
$23.5K $10.64/SF
Area
Essex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,800
Cap Rate 7%
$336,286
Cap Rate 9%
$261,556
Alternative Uses
Best Use
Flex RnD
$551.6K
$482.6K – $643.5K
NOI $38,610 @ 7.0% cap · market cap 1,103.14%
Second Best
Industrial
$336.3K
$294.3K – $392.3K
NOI $23,540 @ 7.0% cap · market cap 672.57%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,706 @ 7.0% cap · market cap 2,620.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01923, MA
27,987
Population
11,405
Households
2.5
Avg Household Size
46
Median Age
47%
College-Educated
95%
High-School Grad
13.2 sq mi
ZIP Area
2,120
Density / Sq Mi
$117,072
Median Household Income
$59,916
Median Earnings
$2,004
Median Rent
$611,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Luther Witham Inc — 10 Pillsbury Ave, Danvers, MA 01923
Frequently Asked Questions
What type of property is this?
Flex space - The rear-building unit has private offices above and four off-street spaces reserved for commercial tenants.
Where is this flex space located?
The property is located at 72R Holten St Danvers, MA.
What are key features of this property?
This property features: Two drive‑in doors, each approximately 18 x 10 feet; Two private offices located above the main space; Four exclusive off‑street parking spaces for commercial tenants
