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    80 Prospect St, Unit 3 Peabody, MA 01960
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    Property profile & analytics

    80 Prospect St, Unit 3 Peabody, MA 01960

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    • Office buildings
    • 4,876 SF
    • 0.38 lot acres
    For Lease
    $1,600/Mo
    View Listing →
    Peabody Office Suite For Rent For Lease
    $1,600/Mo
    1,100 SF

    Peabody Office Suite For Rent

    Centrally air-conditioned office suite in a popular office/retail corridor.

    80 Prospect Street #3, Peabody, MA 1960
    View Listing
    Property ID
    US38-1461131
    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
    $520,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pampered & Polished / Hair Salon / Nail Salon
    • Bliss Massage Studio / Alternative Medicine Practice / Spa & Massage Center
    • PBinJect Medical Spa / Spa & Massage Center / Alternative Medicine Practice
    • Felton Cemetery / Cemetery
    • Thousand Needles Tattoo / Tattoo & Piercing Shop

    Property Details for 80 Prospect St

    Year built
    1960
    Construction
    FRAME
    Lot size
    0.38 lot acres
    Property size
    4,876 SF
    Zone code
    BR
    Property type
    Office buildings
    APN
    PEAB M:0039 B:0007
    APU
    PEABM0039B0007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $614,000
      Market price range: $435k - $1.21M
      AI Estimate
      $592,000
      Market price range: $260k - $1.42M

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

    Location Insight

    • Map
    • Local Demand
    City
    Peabody
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9462
    Latitude
    42.5453
    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
    $8,669
    $375,900
    $84,500
    $460,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,530,000
      35,996 SF

      19 Centennial Dr

      OFFICE BUILDING • 35,996 SF
      19 Centennial Dr, Peabody, MA 01960-7901
      View Details
    • Value Estimation
      $1,030,000
      7,440 SF

      172 Newbury St

      OFFICE BUILDING • 7,440 SF
      172 Newbury St, Peabody, MA 01960-2405
      View Details
    • Value Estimation
      $2,250,000
      34,058 SF

      84 Newbury St

      OFFICE BUILDING • 34,058 SF
      84 Newbury St, Peabody, MA 01960-3864
      View Details
    • Value Estimation
      $2,440,000
      11,968 SF

      8 Bourbon St

      OFFICE BUILDING • 11,968 SF
      8 Bourbon St, Peabody, MA 01960-7481
      View Details
    • Value Estimation
      $2,645,000
      29,768 SF

      11 Dearborn Rd

      OFFICE BUILDING • 29,768 SF
      11 Dearborn Rd, Peabody, MA 01960-3823
      View Details
    • Value Estimation
      $520,000
      6,047 SF

      104 Lowell St

      OFFICE BUILDING • 6,047 SF
      104 Lowell St, Peabody, MA 01960-4259
      View Details

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      10,364 SF

      Peabody Office/Flex Facility For Sale

      10,364 SF office/flex building with warehouse space and loading dock.
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      High-Visibility Commercial Building For Sale

      Standalone commercial building in a strong retail corridor of Peabody, MA.
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      Leased Commercial Property in Peabody

      Two-unit commercial property with steady income stream in Peabody.
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      900 SF

      Peabody Office Condo For Sale

      900 SF office condo with exam rooms and office.
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      Land with Development Potential

      Land with zoning for educational, religious, and daycare facilities.
      4 Wheatland St, Peabody, MA 01960
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    Similar Nearby for Lease

    • Contact for pricing
      871 SF

      Peabody Corporate Center Office Space

      Office space for rent in a professional building.
      100 Corporate Pl, Peabody, MA 01960
      View Details
    • $2,500 /Mo
      1,000 SF

      Central Peabody Retail/Office Space

      Versatile 1,000 SF space in desirable Peabody location.
      101 Foster St, Peabody, MA 01960
      View Details
    • $14 SF/Yr

      Renovated Mill Building with Potential

      Three-story mill building with flexible lease terms and modern updates.
      119R Foster St, Peabody, MA 01960
      View Details
    • $29 SF/Yr

      Professional Office Space on Route 114

      Modern office suite with high visibility and ample parking.
      255 Andover St, Peabody, MA 01960
      View Details
    • Contact for pricing

      Peabody Commercial Space For Rent

      High-visibility commercial space in a multi-tenant strip center.
      8 Bourbon St, Peabody, MA 01960
      View Details
    • Contact for pricing

      Peabody Corporate Center Commercial Space

      Commercial space available in Peabody Corporate Center from April 2026.
      200 Corporate Pl, Peabody, MA 01960
      View Details
    View Listing
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    Peabody, MA 01960
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    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
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