Danvers Industrial Facility with Development
15 Water St Danvers, MA 01923
15 Water St, Danvers, MA, 01923
Contact for pricing
For Sale
Contact for pricing
10,752 SF industrial facility on 1.15 acres for sale.
Property Size10,752 SF
Lot Size1.15 Acres
Price / SF$372.02
Days on Market758
Property Features for 15 Water St
General Information
- Standard status
- Active
- Size
- 10,752 SF
- Lot size
- 1.15 Acres
- Property subtype
- Industrial
Listing agency
The Mega Group Commercial Real Estate
(978) 762-9771
Listed by
Brian DApice · License #MA 9538300
Source
Crexi
Added: Jun 25, 2024 Updated: Jul 10 at 3:44PM Checked: Jul 21 at 5:25AM
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 Commercial Real Estate
Investment Insights
Based on property information with market context.
This 10,752 square foot industrial facility is situated on 1.15 acres of land on Route 35, just off Route 128 in Danvers, Massachusetts. The property features eight drive-in doors. Currently operating as a car wash, auto-body, and detail shop, the property consists of two contiguous lots. The zoning for 15 Water Street is Commercial 1, allowing for various uses such as athletic and physical training facilities, drive-thrus, kennels, pet daycares, auto repair and filling stations, car washes, medical and professional offices, restaurants, fast food and take-out establishments, retail spaces, wholesale trade, assembly and processing facilities, municipal uses, performing arts venues, and educational facilities. 9 Water Street is zoned Residential 1, primarily for one or two family residences. The property offers development potential.
Key Highlights
- Existing car wash/auto‑body/detail shop with eight drive‑in doors.
- Located on Route 35, just off Route 128 in Danvers, Massachusetts.
- 10,752 +/- square foot industrial facility on 1.15 +/- acres.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $271.0k | $25.20 |
| − Vacancy | −$6.0k | −$0.55 |
| EGI | $265.0k | $24.65 |
| − OpEx | −$66.2k | −$6.16 |
| NOI | $198.7k | $18.48 |
10,752 SF · lease $25.20/SF/yr · vacancy 2.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.84M
$2.48M – $3.31M
NOI $198,742 @ 7.0% cap · market cap 4.97%
Second Best
Flex RnD
$2.68M
$2.34M – $3.13M
NOI $187,591 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,560 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Hartnett Auto Body ...
Auto Repair Shop
Hartnett Car Wash
Car Wash
Similar For Sale Nearby
Similar Off Market Nearby
- BJ's Wholesale Club — 6 Hutchinson Dr, Danvers, MA 01923
- Trailer Shop — 87 High St, Danvers, MA 01923
- Hartnett Auto Body Inc — 15 Water St, Danvers, MA 01923
- Dave I's Auto Repair — 101 Rear High St, Danvers, MA 01923
- E and K Inc — 112 Water St, Danvers, MA 01923
FAQs
What type of property is this?
Auto shop - 10,752 SF industrial facility on 1.15 acres for sale.
Where is this auto shop located?
The property is located at 15 Water St Danvers, MA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Existing car wash/auto‑body/detail shop with **eight drive‑in doors**.; Located on Route 35, just off Route 128 in Danvers, Massachusetts.; **10,752 +/- square foot industrial facility on 1.15 +/- acres**.
