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    FOR LEASE
    Turn key restaurants

    15 Newbury St, Peabody, MA 01960

    9,655 SF 1.59 ac lot Built 1974
    Entity Owned 22-yr Hold ~ Est. High Equity
    Property ID
    US38-1897549
    Property summary
    AI-generated overview

    This exceptional 7,755-square-foot retail space, located at 15 Newbury Street in Peabody, Massachusetts, presents a unique opportunity for a single-tenant business. Situated on a generous 1.6-acre lot, the property boasts ample parking with 94 spaces, ensuring convenient access for customers and employees. The building is zoned BR-1, offering flexibility for a variety of retail or restaurant uses. The entire space is currently vacant, providing a blank canvas for a new tenant to customize to their specific needs. The property's prominent location on Newbury Street in Essex County offers excellent visibility and accessibility, making it an ideal location to establish or expand a business. With its substantial size, ample parking, and prime location, this property is poised to attract significant foot traffic and contribute to the success of any retail or restaurant operation. The address is 15 Newbury Street, Peabody, MA 01960. The property's convenient location and substantial size make it an attractive option for businesses seeking a high-profile presence in a thriving community. The entire 7,755 square feet is available for lease. This is a single-tenant property.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1974
    Construction FRAME
    Total area 9,655 SF
    Lot 1.59 ac (69,348 SF)
    Zoning code BR1
    APN PEAB M:0088 B:0006
    UPID US38-1897549
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Pardon My Cheesesteak Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $610k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.30M
    Blend (final) Blend
    $955k
    Owner & transaction history
    153 W Hancock St. LP · 22 yrs held
    153 W Hancock St. LP
    since 2003
    4 recorded transactions
    2010
    2003
    $2.9M
    1995
    $1.3M
    1990
    $17,500
    Zoning & alternative use
    BR1 · Peabody, MA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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