Property profile

140 Commonwealth Ave Danvers, MA 01923

OFF-MARKET
Showrooms
Property ID
US38-2301197
32,382 SF 3.55 ac lot Built 1984
Entity Owned 3-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 1,900-square-foot medical office space is now available for lease. Ideally situated on a main thoroughfare with high visibility and traffic flow from both Danvers and Peabody, this single-tenant property offers unparalleled convenience and accessibility. The building features a professionally managed and maintained landscape, enhancing its curb appeal and creating a welcoming environment for patients and staff. Inside, the space boasts seven patient rooms, two bathrooms, and a spacious waiting area, perfectly configured for a medical practice. The building is equipped with an elevator and is fully handicapped accessible, ensuring compliance with ADA standards. Updated common areas and two main entrances provide convenient access from either side of the building. Ample free parking is available on both sides, offering convenient parking for patients and staff. Currently operating as a doctor's office, this versatile space is also well-suited for a variety of other medical or related uses, including pediatric offices, spas, massage therapy businesses, laser hair removal clinics, and beauty and cosmetic practices. Prospective tenants are encouraged to conduct their own due diligence regarding permitted uses with the town. This is a turn-key opportunity in a high-traffic location.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1984
Construction STEEL FRAME
Total area 32,382 SF
Lot 3.55 ac (154,638 SF)
Zoning code C3
APN DANV M:062 L:176 P:
UPID US38-2301197

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician
  • Dental Office
  • Physician Medical Clinic
  • Medical Clinic
  • Physician Medical Clinic

Location

140 Commonwealth Ave Danvers, MA 01923-3629
Danvers metro Census 211201 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.37M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$835k

Owner & transaction history

since 2023
Last sale
$855,000
2 recorded transactions
2023
$855,000
2022
$363,000

Zoning & alternative use

C3 · Danvers, MA
Zoning description

The purpose of this section of the Danvers Zoning By-Laws is to define a specific zoning district in the Endicott Street area and to regulate the future growth and development within the district based upon, and consiste…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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