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324-326 Broadway Lawrence, MA 01841

OFF-MARKET Investment properties Google Maps
4,837 SF 0.11 ac lot Built 1900
Individually Owned 6-yr Hold
Estimated value (blended)
$440k
Range $396k – $484k (±10%)
Property ID US38-2285092

Property summary

AI-generated overview

This exceptional mixed-use property, located at 324-326 Broadway in Lawrence, Massachusetts, presents a compelling investment opportunity. The 4,837 square foot building, constructed in 1900, features three commercial tenants and boasts a desirable owner/user investment type with a gross lease. The building comprises three stories, including a finished basement with convenient walkout access to a rear parking lot. The property's strategic location on the heavily trafficked Route 2 corridor, nestled amongst established businesses, ensures high visibility and accessibility. The building includes four units in total: two street-level commercial spaces and two multi-level residential dwellings above. The asking price is $1,350,000, translating to $279.10 per square foot. The property is currently occupied, with an occupancy date of July 9, 2024. This unique offering combines the benefits of commercial income with the potential for residential rental income, making it an ideal investment for both established businesses seeking owner-occupancy and seasoned investors looking to expand their portfolios. The property's solid construction, ample parking, and prime location make it a truly remarkable opportunity in the thriving Lawrence market. The building is situated in Essex County, MA, zip code 01841.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1900
Construction FRAME
Total area 4,837 SF
Lot 0.11 ac (5,000 SF)
APN LAWR M:0168 B:0000 L:0011
UPID US38-2285092

Cap rate & NOI

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

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$420k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$440k

Owner & transaction history

since 2020
Last sale
$460,000
7 recorded transactions
2020
Price N/A
2017
$460,000
2006
$380,000
2006
Price N/A
2003
$300,000
2002
Price N/A
2000
Price N/A

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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