420 Common St new Save Request In-Person Tour Request Virtual Tour
Lawrence,MA 01840
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 73305125
HOA Y/N false
Year Built 1971
Annual Tax Amount $44,773
Tax Year 2024
Lot Size 9,583 Sqft
Acres 0.22
Property Description
Seize the opportunity to own a cornerstone property in the thriving Lawrence, MA Opportunity Zone. This three-story, steel-frame office building with striking glass facades, located at 420 Common St, is fully leased to the Commonwealth of Massachusetts for Northern Essex Community College. Ideally situated across from the Lawrence Post Office, the building is part of the college’s "Educational Campus." In stellar condition, this property will be the crown jewel of any investors portfolio. It is fully occupied, with the tenant responsible for all maintenance, except HVAC, electrical servicing, and exterior upkeep, which fall under the owner's responsibilities. The strong and reliable tenancy ensures the building's structural integrity and consistent functionality.The 10-year lease, October 3, 2017 with scheduled increases of $10,000 per year in the final two years of the lease. This property performs month to month and year to year.
Location
State MA
County Essex
Zoning B3
Direction Located just off Broadway, at the corner of Common and Hampshire. Be sure to use GPS for directions
Exterior
Utilities Available Public Water,Public Sewer,Natural Gas Available,440 Volts
Waterfront false
Total Parking Spaces 3
Others
Senior Community false