Lawrence Mixed-Use Multifamily
For Sale
$2,995,000
82 South Broadway, Lawrence, MA 01843
41-unit mixed-use property with commercial and SRO units.
Property Size17,706 SF
Price / SF$169.15
Days on Market314
Property Features for 82 South Broadway
General Information
Standard status
Active
Size
17,706 SF
Property subtype
Multifamily
Building Details
Building Size
17,706 SF
Year Built
1900
Listing Agency:
New England Realty Advisors LLC
Listed By:
Brad Carlson · License #MA #9584876
(781) 334-8044
Source:
Nerealtyadvisors
Added: Nov 25, 2025
Changed: Oct 3
Last Checked: Oct 4 at 8:33AM
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 New England Realty Advisors LLC
Investment Insights
Based on property information with market context.
The South Broadway Rooms, located at 82 S Broadway in Lawrence, MA, is a mixed-use multifamily property available for purchase. The property includes 3 commercial units and 38 SRO (single room occupancy) units. Situated on 0.16 acres, the building has 17,706 square feet of living area within a 24,502 square foot gross area. The property has been well-maintained, with a new roof, a new heating system, and a state-of-the-art security system. All upgrades to the building have been completed within the past 3 years. The property is located on the south side of Lawrence, providing access to Boston via Interstates 93 and 495, MA Route 28, and The Lawrence Train Station with service on the MBTA’s Haverhill Line, located 0.6 miles away. Local retail establishments, eateries, grocery stores, and parks are within walking distance. Lawrence, Massachusetts, is known for its industrial heritage and multicultural environment. The city's former mill buildings have been converted into residential lofts, commercial spaces, and educational centers. The area is a dense, walkable urban environment. This property presents a value-add opportunity in a high-demand and supply-constrained market with below-market rents.
Key Highlights
- New roof, new heating system, and state‑of‑the‑art security system recently upgraded.
- Mixed‑use multifamily property featuring 41 units (3 commercial, 38 SRO).
- Well‑positioned with direct access to Boston via multiple routes and the Lawrence Train Station.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$269,245
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,384,900
$5.4M
Cap Rate 7%
$3,846,357
$3.8M
Cap Rate 9%
$2,991,611
$3.0M
Market Conditions
NOI Build-Up for 17,706 SF
Gross rent
$509.9K $28.80/SF
− Vacancy
−$20.4K −$1.15/SF
EGI
$489.5K $27.65/SF
− OpEx
−$220.3K −$12.44/SF
NOI
$269.2K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,384,900
Cap Rate 7%
$3,846,357
Cap Rate 9%
$2,991,611
Alternative Uses
Best Use
Retail
$4.16M
$3.64M – $4.85M
NOI $290,917 @ 7.0% cap · market cap 9.71%
Second Best
Apartment 5plus
$3.85M
$3.37M – $4.49M
NOI $269,245 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$10.48M
$9.17M – $12.23M
NOI $733,732 @ 7.0% cap · market cap 24.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,388
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - 41-unit mixed-use property with commercial and SRO units.
Where is this apartment building located?
The property is located at 82 South Broadway Lawrence, MA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: New roof, new heating system, and state‑of‑the‑art security system recently upgraded.; Mixed‑use multifamily property featuring 41 units (3 commercial, 38 SRO).; Well‑positioned with direct access to Boston via multiple routes and the Lawrence Train Station.
