130 Ctr St Danvers, MA 01923-1400
- Investment properties
- 2.65 lot acres
Current Use by Public Records
- Runway Lashes & Makeup / Eyelash Salon / Spa
- Hanson Mark S PhD / Psychologist
- Premier Painting Inc. / Painter / Contractor
- Weiner Howard / Psychologist / Nurse Practitioner
- Erin Murphy Inc / Accountant
Property Details for 130 Ctr St
- Lot size
- 2.65 lot acres
- Zone code
- VD
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- DANV M:040 L:033 P:
- APU
- DANVM040L033P
Description
Wadsworth Village, located at 130 Centre St, Danvers, MA 01923, presents a compelling mixed-use investment opportunity. This fee-simple property encompasses seven buildings on a 2.65-acre lot, totaling 40,070 square feet with 29,708 square feet of net rentable area. The property boasts 49 units, including 37 office units, one 2-bedroom/1.5-bathroom unit, four 2-bedroom/1-bathroom units, six 1-bedroom/1-bathroom units, and one studio unit. Built between 1820 and 2004, the three-story buildings have undergone capital improvements, with many residential units featuring modern upgrades like hardwood floors, granite countertops, and in-unit laundry. The property enjoys a prime location in a desirable Danvers neighborhood, offering excellent access to major transportation routes (I-95 and US Route 1), public transportation (MBTA Bus Routes 435 and 436), and a wealth of nearby amenities including major shopping centers (Liberty Tree Mall, North Shore Mall), retail giants (Costco, Home Depot, Walmart), and grocery stores (Stop & Shop, Trader Joe's). The property's strong suburban demographics, with over 56,300 people within 3 miles and an average household income exceeding $145,000, further enhance its investment appeal. The asking price is $5,100,000, representing a price per square foot of $172 and a price per unit of $104,082. The property's strong NOI of $351,175 translates to a 6.89% cap rate, indicating significant potential for value appreciation and strong investment returns. Development potential exists through the construction of additional buildings or the conversion of office units to residential units. This well-maintained property offers a unique blend of immediate income and long-term growth potential in a thriving North Shore location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,635,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,735,000
- 6.5%
- $4,040,000
- 7%
- $3,735,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,845,000
- Geo Method
- $4,150,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,620,000
- Retail
- $4,345,000
- Mixed-Use
- $4,665,000
- Hospitality
- $4,770,000
- Educational
- $4,285,000
- Residential Income
- $3,810,000
- Energy
- $3,615,000
- Income-Based Land
- $4,535,000
- Food Service
- $4,320,000
Location Insight
- Map
- Local Demand
- City
- Danvers
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.9697
- Latitude
- 42.5664
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
