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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Market St Ipswich, MA 01938

    • Commercial real estate
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for Market St

    Year built
    1847
    Lot size
    0.55 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.55-acre lot in downtown Ipswich, MA, presents a truly remarkable investment opportunity. All necessary approvals are in place for the development of a five-unit condominium complex, eliminating lengthy permitting delays and streamlining the development process. The property's prime location, just steps from the Ipswich train station, offers unparalleled convenience for commuters seeking easy access to Boston and surrounding areas. Residents will enjoy the vibrant downtown atmosphere, with its diverse selection of restaurants and shops within walking distance. The renowned Crane Beach is also easily accessible, providing residents with a beautiful coastal escape. Ipswich itself is a highly desirable community, known for its strong sense of community and excellent amenities. This shovel-ready project represents a unique chance to capitalize on the growing demand for housing in this sought-after location. The 0.55-acre lot provides ample space for the planned five-unit condominium complex, ensuring comfortable living spaces for residents. This is an exceptional opportunity for developers and investors seeking a streamlined, high-return project in a thriving New England town. The asking price is $999,000. Don't miss this chance to secure a prime development site in the heart of Ipswich.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ipswich
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8377
    Latitude
    42.6799

    Comparable in this City

    • Value Estimation by Request
      3.70 Acres

      114 County Rd

      COMMERCIAL (GENERAL) • 3.70 Acres
      114 County Rd, Ipswich, MA 01938-2501
      View Details
    • Value Estimation by Request
      1,621 SF

      1 Market St

      COMMERCIAL CONDOMINUIM • 1,621 SF
      1 Market St, Ipswich, MA 01938-2212
      View Details
    • Value Estimation by Request
      3,906 SF

      3 Un St

      SHOW ROOM, WAREHOUSE • 3,906 SF
      3 Un St, Ipswich, MA 01938-2221
      View Details
    • Value Estimation by Request
      2.00 Acres

      280 Argilla Rd

      COMMERCIAL (GENERAL) • 2.00 Acres
      280 Argilla Rd, Ipswich, MA 01938-2647
      View Details
    • Value Estimation by Request
      2.46 Acres

      38 Essex Rd

      COMMERCIAL (GENERAL) • 2.46 Acres
      38 Essex Rd, Ipswich, MA 01938-2662
      View Details
    • Value Estimation by Request
      3.93 Acres

      76-78 Tpke Rd

      COMMERCIAL (GENERAL) • 3.93 Acres
      76-78 Tpke Rd, Ipswich, MA 01938
      View Details

    Similar Nearby for Sale

    • $1,200,000
      0.55 Acres

      Downtown Ipswich Development Opportunity

      Approved five-unit condo project in downtown Ipswich near train.
      50-56 Market St, Ipswich, MA 01938
      View Details
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      Large Building Lot on Topsfield

      Scenic building lot close to town with approved septic design.
      125 Topsfield Rd, Ipswich, MA 01938
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      Ipswich Historic Mixed-Use Building

      Historic Ipswich building with retail, restaurant, and residential potential.
      57 East St, Ipswich, MA 01938
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    Similar Nearby for Lease

    • $13 SF/Yr

      Industrial Warehouse with Loading Docks

      Large warehouse with offices, high ceilings, and loading docks.
      44 Mitchell Rd, Ipswich, MA 01938
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    • Sponsored
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      Contact for pricing

      MA, Ipswich - 118 County Road

      Discover many ways to work your way in Downtown
      118 County Rd, Ipswich, MA 01938
      View Details
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    Market St
    Ipswich, MA 01938
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    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
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