Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    283 Broadway Lawrence, MA 01841-3509

    • Turn key restaurants
    • 1,831 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Nov 10, 2024
    $370,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1829350
    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.

    Current Use by Public Records

    • Bay State Chiropractic-Sports / Chiropractor
    • Michael J. Dimauro, DC / Chiropractor

    Property Details for 283 Broadway

    Year built
    1900
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.05 lot acres
    Property size
    1,831 SF
    Property type
    Turn key restaurants
    APN
    LAWR M:0168 B:0000 L:0131
    APU
    LAWRM0168B0000L0131

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1716
    Latitude
    42.7094
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,160
    $123,700
    $194,300
    $318,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $540,000
      7,916 SF

      501 Broadway, Unit 507

      RESTAURANT • 7,916 SF
      501 Broadway, Lawrence, MA 01841-3005
      View Details
    • Value Estimation by Request
      3,294 SF

      241 Lawrence St, Unit 247A

      RESTAURANT • 3,294 SF
      241 Lawrence St, Lawrence, MA 01841-1703
      View Details
    • Value Estimation by Request
      1,650 SF

      773 Essex St

      RESTAURANT • 1,650 SF
      773 Essex St, Lawrence, MA 01841-4606
      View Details
    • Value Estimation by Request
      1,257 SF

      55 Berkeley St

      RESTAURANT • 1,257 SF
      55 Berkeley St, Lawrence, MA 01841-1805
      View Details
    • Value Estimation by Request
      1,280 SF

      326 Lowell St

      RESTAURANT • 1,280 SF
      326 Lowell St, Lawrence, MA 01841-4308
      View Details
    • Value Estimation by Request
      1,730 SF

      102 Marston St

      RESTAURANT • 1,730 SF
      102 Marston St, Lawrence, MA 01841
      View Details

    Similar Nearby for Sale

    • $149,900

      Turnkey Salon & Medspa Business

      Thriving salon and medspa business with loyal client base.
      525 Broadway, Lawrence, MA 01841
      View Details
    • $1,250,000
      4,828 SF

      Mixed-Use Building in Lawrence, MA

      Three-story mixed-use building with commercial and residential units.
      324-326 Broadway, Lawrence, MA 01841
      View Details
    • Contact for pricing

      Riverwalk Innovation District Mixed-Use Campus

      Office, retail, and residential spaces designed for live-work-play experience.
      Riverwalk Innovation District, Lawrence, MA 01841
      View Details
    • $995,000

      Mixed-Use Investment Property in Lawrence

      Mixed-use property with residential and commercial buildings in Tower Hill.
      34-38 Milton St, Lawrence, MA 01841
      View Details
    • $1,399,000

      Lawrence Retail Investment Opportunity

      Prime commercial property with high traffic and long-term tenants.
      138-160 Broadway, Lawrence, MA 01841
      View Details
    • $895,000

      Prime Lawrence Medical Office Space

      Turnkey medical office, river views, ample parking.
      25 Marston St, Lawrence, MA 01841
      View Details

    Similar Nearby for Lease

    • $2,395 /Mo

      Retail Space on Route 28

      Retail space available for immediate occupancy on Route 28.
      138 Broadway, Lawrence, MA 01841
      View Details
    • $2,000 /Mo
      5,998 SF

      Lawrence Retail/Office Space For Rent

      Commercial unit in high-traffic area, suitable for retail or office.
      324 Broadway, Lawrence, MA 01841
      View Details
    • $16 SF/Yr
      14,000 SF

      Lawrence Industrial/Retail/Medical Opportunity

      Prime location near I-495, ideal for various uses.
      35 Marston St, Lawrence, MA 01841
      View Details
    • Contact for pricing

      Commercial Land For Rent

      New development land available near Interstate 495.
      207 Marston St, Lawrence, MA 01841
      View Details
    • Contact for pricing
      596,181 SF

      IndusPAD Lawrence: Industrial Space

      Prime Lawrence, MA industrial space; flexible layouts.
      46 Stafford St Lawrence, MA 01841, Lawrence, MA 01841
      View Details
    • Contact for pricing
      600,000 SF

      600,000 SF Industrial Campus

      Merrimack Valley Flex Space, 9 Units Available
      46 Stafford St, Lawrence, MA 01841
      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.
    283 Broadway
    Lawrence, MA 01841-3509
    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

    Google sign-in failed. Please try again or use another login method.