Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    99 Conifer Hill Dr Danvers, MA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Up to 22,000 SF available near Interstate 95.

    Type:OFFICE
    Property size:
    18,838 SF
    Lot size:
    3.68 Acres
    Added:
    Jan 25, 2023
    Days on Market:
    1191
    Last Refresh:
    Apr 5 at 8:57 pm

    Property Features for 99 Conifer Hill Dr

    General Information

    Standard status
    Active
    Size
    18,838 SF
    Lot size
    3.68 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 99 Conifer Hill Dr Contact us

    We can help!

    Listing Contact
    Greg Klemmer
    Greg Klemmer

    Listing agent Greg Klemmer

    Listing office Colliers | Boston

    Listing date Jan 25, 2023

    Source Moodyscre

    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 Colliers | Boston

    Overview

    Danvers Boutique Office Space Available

    A boutique office building offering up to 22,000 square feet of space is available for rent. The three-story property is located on Route 1, adjacent to the Interstate 95 interchange at 99 Conifer Hill Drive in Danvers, Massachusetts. The property presents an opportunity for conversion to medical or lab use. Numerous restaurants, hotels, and retail options are located nearby. The property size is 18,838 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    benefactor Consultant Haley Norrgard, Counselor Family Counselor Teddie Hunt, Counselor Physician Gabriel Merlin, M.D. Physician Mortgage Network Loan Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Danvers
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9649
    Latitude
    42.5879

    Nearby Similar for Lease

    • $1.00 SF/Yr

      High-Profile Retail Space on Route 114

      6,950 SF retail space in a high-traffic location.
      120 Andover St unit: 3, Danvers, MA 01923
      View Details
    • $3,500/Mo

      Danvers Commercial Garage Condo

      2,000 SF commercial garage condo near Route 1 and I-95.
      100 Ferncroft Rd 204, Danvers, MA 01923
      View Details
    • Contact for pricing

      High-Profile Retail Space on Route 114

      Prime retail location with high traffic and excellent visibility.
      120 Andover St 3, Danvers, MA 01923
      View Details
    • Contact for pricing

      Furnished Office Space in Danvers

      Turnkey office space in downtown Danvers with high visibility.
      20 Conant St 1A&1B, Danvers, MA 01923
      View Details
    • $3,000/Mo

      Modern Office Suite For Rent

      Pristine office suite in a modern condo park.
      491 Maple St 206, Danvers, MA 01923
      View Details
    • Contact for pricing

      High-Profile Retail Space on Route 114

      Prime retail space in a high-traffic, desirable location.
      120 Andover St #3, Danvers, MA 01923
      View Details
    • $1,922/Mo

      Danvers Office Suite For Rent

      Six-room office suite in a high-traffic location.
      435 Newbury St 210-212, Danvers, MA 01923
      View Details
    • Contact for pricing

      Retail Space in Danvers Square

      3,100 SF retail unit in a prime location.
      36 Maple St, Danvers, MA 01923
      View Details
    • $960/Mo

      Danvers Office Suite For Rent

      Four-room office suite in Danvers, ideal for professional use.
      435 Newbury Street #216, Danvers, MA 01923
      View Details
    • Contact for pricing

      Professional Office Suite For Rent

      Newly available 2,300sf professional office suite on the second floor.
      2-10 Elm 2nd FL, Danvers, MA 01923
      View Details
    • Contact for pricing

      Retail Storefront in Danvers Village

      Street-level retail space in a high-traffic Danvers location.
      67 High St 1, Danvers, MA 01923
      View Details
    • Contact for pricing

      Commercial Garage Condo For Lease

      2,000+/- SF garage condo near Route 1 and I-95.
      100 Ferncroft Rd #108, Danvers, MA 01923
      View Details

    FAQs

    What type of property is this?
    Office building - Up to 22,000 SF available near Interstate 95.
    Where is this office building located?
    The property is located at 99 Conifer Hill Dr Danvers, MA.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: Up to 22,000 SF available boutique office building.; Opportunity to convert to medical or lab use.; Conveniently located on Route 1, adjacent to Interstate 95 interchange.
    (781) 223-3999 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Greg Klemmer
    Greg Klemmer
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!