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Property profile & analytics
FOR LEASE
Commercial real estate
60 Island St, Lawrence, MA 01840
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US38-1739555
For Lease
1 / 3
$580/Mo
60 Island St, Lawrence, MA 01840
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
1.44 ac (62,789 SF)
APN
LAWR M:0085 B:0000 L:0016
UPID
US38-1739555
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
-
Aclem Cleaning Services Commercial Cleaning Service
-
Valley Home Insulation LLC General Contractor Renovation Specialist
-
Brother's Contractors Painting Painting Service General Contractor
-
Sentinel Technology (Bike/Boat/Book/etc) Store Corporate Office
-
Bocaditos by Angie Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Bell Tower Square LLC · 17 yrs held
Bell Tower Square LLC
since 2008
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lawrence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lawrence submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$96,440
Tax year 2020
Assessed value
$5,704,100
Assessed 2024
Previous assessed
$5,704,100
+0.0% YoY
Effective rate
1.69%
On assessed value
Assessed land
$394,900
Assessed improvement
$5,309,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Heating
NONE
Cooling
YES
Buildings
2
Units
1
Lot
1.44 ac (62,789 SF)
APN
LAWR M:0085 B:0000 L:0016
UPID
US38-1739555
Jurisdiction
LAWRENCE
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Cooling
Yes
Buildings
2
Units
1
Lot
1.44 ac
Current owner
From public records · entity-resolved
Bell Tower Square LLC
Entity
Mailing address
91 GLENN ST, LAWRENCE, MA 01843-1036
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2024
—
60 Island Street LLC
—
Deed
related
$5,186,828 · Reading Cooperative Bank
Sep 27, 2018
—
60 Island Street LLC
—
Deed
related
$7,534,000 · Bank Of New England
Apr 6, 2012
—
Island Street LLC
—
Deed Of Trust
related
$3,950,000 · Everett Coop Bank
Oct 28, 2009
—
60 Island Street LLC
—
Deed Of Trust
related
$295,370 · Ges Realty LLC
Dec 30, 2008
$1
Bell Tower Square LLC
Cfs RT
Grant Deed
—
Dec 30, 2008
$4,150,000
60 Island Street LLC
Bell Tower Square LLC
Grant Deed
$4,100,000 · Barracuda Investm INC
Sep 18, 2007
—
E Island Community LLC
—
Deed Of Trust
related
$400,000 · Community Economic
Jul 10, 2007
—
Bell Tower Square LLC
—
Deed Of Trust
related
$100,000 · River Bank
Oct 20, 2006
—
Bell Tower Square LLC
—
Deed Of Trust
related
$300,000 · River Bank
Feb 3, 2006
—
Bell Tower Square LLC
—
Deed Of Trust
related
$400,000 · Lawrence Savings Bank
Feb 18, 2004
$1
Bell Tower Square LLC
Cfs RT
Grant Deed
related
—
Feb 18, 2004
—
Bell Tower Sq LLC
—
Deed Of Trust
related
$1,400,000 · Lawrence Savings Bank
Mar 15, 1994
—
Cfs RT
—
Deed Of Trust
related
$606,000 · Certified Dev Co Massachusetts
Mar 5, 1993
—
Cfs RT
—
Deed Of Trust
related
$1,350,000 · First Essex Savings Bank
Dec 31, 1992
—
Cfs RT
—
Deed Of Trust
related
$232,000 · First Essex Savings Bank
Oct 15, 1992
$470,000
Cfs RT
Gnk RT
Grant Deed
$376,000 · First Essex Savings Bank
Jan 21, 1987
—
Gnk Realty Tr
—
Deed Of Trust
related
$1,300,000 · Shawmut Arlington Tr
—
—
60 Island Street LLC
—
Deed Of Trust
related
$7,534,000 · Bank Of New England
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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