Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    240 Essex St Haverhill, MA 01832
    Back to Search
    Property profile & analytics

    240 Essex St Haverhill, MA 01832

    View on Map
    • Commercial real estate
    • 2,370 SF
    • 0.05 lot acres
    Off-Market
    Property ID
    US38-1362700
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lantern Cafe / Bar & Pub

    Property Details for 240 Essex St

    Year built
    1900
    Lot size
    0.05 lot acres
    Property size
    2,370 SF
    Property type
    Commercial real estate
    APN
    515/297/18

    Description

    This exceptional mixed-use property presents a compelling investment opportunity in Haverhill, MA. Located at 240 Essex Street, this 2,370 square foot building, constructed in 1900, boasts a vibrant history as the Lantern Cafe, a well-established bar operating for over 40 years. The sale includes all furniture, fixtures, and equipment, along with transferable licenses. The property features a street-level bar with a 55-person capacity (16 bar seats) and a two-bedroom apartment on the second floor. A 660 square foot basement, not included in the listed square footage, provides ample storage. Situated on a 0.05-acre lot, the property is zoned IC, offering flexibility for various uses. The building is a two-story structure with two units. Conveniently located near public transportation (bus and train terminals) and public parking, this property is ideally positioned for continued success as a bar and apartment complex or redevelopment. The property is situated within Opportunity Zone 2608, potentially offering redevelopment incentives. The asking price is $750,000. The property includes two parking spaces per unit. All information is from seller and public records

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Haverhill
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.0886718
    Latitude
    42.776321

    Comparable in this City

    • $525,000
      1,620 SF

      Mixed-Use Property with Income Potential

      Mixed-use property featuring commercial and residential units with income potential.
      219 River St, Haverhill, MA 01832
      View Details
    • $525,000
      1,620 SF

      Mixed-Use Property in Haverhill, MA

      Mixed-use property with retail/office space and residential unit.
      219 River St, Haverhill, MA 01832
      View Details
    • Contact for pricing
      1,620 SF

      Mixed-Use Property with Income Potential

      Mixed-use property with retail and residential units, income-generating potential.
      219 River St, Haverhill, MA 01832
      View Details
    • Contact for pricing
      7,152 SF

      Haverhill Industrial Space on Acreage

      7,152 SF industrial space on 9.59 acres for sale.
      6 Fondi Rd, Haverhill, MA 01832
      View Details
    • Contact for pricing

      Grand Multifamily Residence

      Multifamily residence with income potential in a historic setting.
      37-39 Arch St, Haverhill, MA 01832
      View Details
    • Contact for pricing
      Pending

      Haverhill Four-Unit Building For Sale

      Four-unit building with updated units and ample parking.
      552 Washington St, Haverhill, MA 01832
      View Details

    Similar Nearby for Sale

    • $525,000
      1,620 SF

      Mixed-Use Property with Income Potential

      Mixed-use property featuring commercial and residential units with income potential.
      219 River St, Haverhill, MA 01832
      View Details
    • $525,000
      1,620 SF

      Mixed-Use Property in Haverhill, MA

      Mixed-use property with retail/office space and residential unit.
      219 River St, Haverhill, MA 01832
      View Details
    • Contact for pricing
      1,620 SF

      Mixed-Use Property with Income Potential

      Mixed-use property with retail and residential units, income-generating potential.
      219 River St, Haverhill, MA 01832
      View Details
    • Contact for pricing
      7,152 SF

      Haverhill Industrial Space on Acreage

      7,152 SF industrial space on 9.59 acres for sale.
      6 Fondi Rd, Haverhill, MA 01832
      View Details
    • Contact for pricing

      Grand Multifamily Residence

      Multifamily residence with income potential in a historic setting.
      37-39 Arch St, Haverhill, MA 01832
      View Details
    • Contact for pricing

      Land for Sale in Haverhill

      Land available in Haverhill, MA. Car-dependent location.
      528-9-1 Atlanta St, Haverhill, MA 01832
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      161 SF

      Versatile Office, Storage, Industrial Space

      Flexible spaces for rent: office, storage, light industrial.
      143-145 Essex St, Haverhill, MA 01832
      View Details
    • Contact for pricing
      2,558 SF

      Retail Space in Central Business

      2,558 SF retail space in a high-traffic downtown location.
      86 Essex St, Haverhill, MA 01832
      View Details
    • Contact for pricing
      14,337 SF

      Freestanding Building at River Street

      Freestanding building at the intersection of River Street and Lowell Avenue.
      800 River St, Haverhill, MA 01832
      View Details
    • Contact for pricing

      Haverhill Office Space For Rent

      700 SF office space available in Haverhill, Massachusetts.
      800 Broadway, Haverhill, MA 01832
      View Details
    • Contact for pricing

      Historic Gardner Block Office/Retail Units

      Historic office and retail units with convenient transportation access.
      25 Railroad Sq, Haverhill, MA 01832
      View Details
    • Contact for pricing

      Downtown Haverhill Office/Retail Space

      Office or retail space with high visibility in downtown Haverhill.
      56 Washington St, Haverhill, MA 01832
      View Details
    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.
    240 Essex St
    Haverhill, MA 01832
    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

    Thank You for Inquiry
    240 Essex St, Haverhill, MA, 01832
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!