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.
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Last Updated: December 20th, 2024 at 6:33am
General Information for 420 Common St, Lawrence, Massachusetts 01840
Property TypeCommercial Sale
Price$3,600,000
MLS #73305125
List Date2024-10-22
Special Listing Conditions
StateMassachusetts
Street NameCommon St
Unit
CityLawrence
Zip Code01840
CountyEssex
MLS Status
AssociationNo
Heat Zones
Sold Date
Building Area Total
Building Area Units0
Close Date
Close Price$0
Listing Service
UnparsedAddress420 Common St, Lawrence MA 01840
Zoning
Zoning DescriptionLegal Conforming
Business TypeProfessional/office
Interior Features for 420 Common St, Lawrence, Massachusetts 01840
* Approx. Living Area Total0 sq ft
MLS Area (Major)
OffMarketDate
Exterior Features for 420 Common St, Lawrence, Massachusetts 01840
* Parking Spaces3
* Year Built1971
Year Built Details
Year Built Source
Construction Materials
Approx. Street Frontage
Utilities
Disclosures for 420 Common St, Lawrence, Massachusetts 01840
Buyer Agent Compensation
Contingency
Financing
Disclosures
Documents Available
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MLSPIN_COOP_COMP
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Lead PaintUnknown
Facilitator Compensation
TransactionBrokerCompensationType
BuyerAgencyCompensationType
Financial Information for 420 Common St, Lawrence, Massachusetts 01840
Association Fee$0
Association Fee Frequency
Associaton Fee Includes
AssociationNo
Assessed Value
Real Estate Tax$0
Tax Year
Existing Lease TypeNNN
OriginalListPrice$4,000,000
Lifestyle Information for 420 Common St, Lawrence, Massachusetts 01840
Association Amenities
Frontage Type
GarageYNNo
Location information for 420 Common St, Lawrence, Massachusetts 01840
Marketing History for 420 Common St, Lawrence, Massachusetts 01840
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Agent Information for 420 Common St, Lawrence, Massachusetts 01840