1R Newbury StPeabody, MA 01960

Property Details for 1R Newbury St

Lot size

1.71 AC

Property size (Sq ft)

41,303 SF

Property type

Office properties

Property subtype

Industrial properties

Description

This exceptional investment opportunity presents a 41,303-square-foot flex building situated on a 1.71-acre lot in Peabody, Massachusetts. The property, located at 1 R Newbury Street, boasts a prime location at the intersection of I-95, Route 1, and Route 128, offering unparalleled highway access and high visibility. Currently 69% occupied with 23 tenants, this multi-tenant building generates a strong net operating income (NOI) of $168,000. The building features four stories and 106 parking spaces. Its BR1 (Regional Business 1) zoning allows for a variety of uses. The property benefits from its proximity to major transportation arteries, placing it just 14 miles from downtown Boston and 9.6 miles from Woburn. Nearby amenities include the North Shore Mall and Whole Foods. This asset presents a stable cash flow with significant upside potential due to potential rent increases and the possibility of achieving a significantly higher NOI. The property is part of the Peabody Corporate Center and could be purchased in conjunction with other nearby properties. This is a rare opportunity to acquire a well-located, income-producing asset in a thriving market.

Location Insight

City

Peabody

County

Essex

State

Massachusetts

Latitude

42.5182

Longitude

-70.9972

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