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You are here:
28 Days on Boston Pads
30 Photos
$4,000,000
Type: Office
Triple Net Lease (NNN)
SQFT: N/A
11 Restroom
Parking: N/A
420 Common St
Lawrence, MA 01840

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.

Property Overview

Property Details click or tap to expand

Property Information

  • Type: Office
  • Location: Legal Conforming
  • MLS ID#: 73305125

Financial

  • Gross Annual Expenses: 54400
  • Gross Annual Income: 292500
  • Net Operating Income: 238100
  • Lease Type: Triple Net Lease (NNN)

Construction & Utilities

  • Utilities: 440 Volts, Natural Gas, Public Sewer, Public Water

Property History click or tap to expand

Date Event Price Price/Sq Ft Source
10/26/2024Active$4,000,000MLSPIN
10/22/2024New$4,000,000MLSPIN
07/02/2022Expired$5,300,000$164MLSPIN
07/01/2021Active$5,300,000$164MLSPIN
05/30/2010Expired$575$0MLSPIN
02/01/2010Expired$825$0MLSPIN
02/01/2010Expired$2,300$0MLSPIN
02/01/2010Expired$1,450$0MLSPIN
11/16/2009Extended$2,300$0MLSPIN
11/16/2009Extended$1,450$0MLSPIN
11/16/2009Extended$825$0MLSPIN
11/16/2009Extended$575$0MLSPIN
08/13/2009Extended$1,450$0MLSPIN
08/13/2009Extended$2,300$0MLSPIN
08/13/2009Extended$825$0MLSPIN
08/13/2009Extended$575$0MLSPIN
05/27/2009Active$2,300$0MLSPIN
05/27/2009Active$575$0MLSPIN
05/27/2009Active$1,450$0MLSPIN
05/27/2009Active$11$0MLSPIN
05/27/2009Active$825$0MLSPIN

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View Breakdown

Map & Resources

Northern Esssex Community College

University

0.03mi

Northern Essex Community College - Bookstore

University

0.05mi

Northern Essex Community College

University

0.08mi

Northern Esssex Community College

University

0.1mi

Blessed Stephen Bellesini O.S.A. Academy

Private School, Grades: 5-7

0.26mi

Blessed Stephen Bellesini O.S.A. Academy

Private School, Grades: 5-8

0.28mi

High School Learning Center

Grades: 9-12

0.29mi

Francis M. Leahy School

Public Elementary School, Grades: PK-5

0.3mi

El Taller

Cafe

0.22mi

La Tambora

Regional & Dominican Restaurant

0.29mi

Viva Bar

Restaurant

0.35mi

Attika Restaurant

Dominican & Hispanic & Puerto Rican & Mexican Restaurant

0.39mi

Lawrence Police Station

Police

0.13mi

Lawrence Police Department

Local Police

0.13mi

Lawrence Fire Department

Fire Station

0.17mi

Lawrence Fire Department

Fire Station

0.59mi

Lawrence Heritage State Park - Visitors Center

Museum

0.37mi

YMCA

Sports Centre

0.24mi

Canal Street Gym

Fitness Centre

0.43mi

Downtown Lawrence Historic District

Park

0.08mi

Pemberton State Park

State Park

0.21mi

Campagnone Common

Municipal Park

0.22mi

Campagnone Common

Park

0.33mi

O"Neill Park

Municipal Park

0.35mi

Lawrence Heritage State Park

State Park

0.36mi

Plainsman Park

Park

0.36mi

Jackson Terrace Historic District

Park

0.39mi

Resource Center

Library

0.19mi

Lawrence Law Library

Library

0.22mi

Lawrence Public Library

Library

0.31mi

Santander

Bank

0.39mi

CVS Pharmacy

Pharmacy

0.4mi

Kelley's Furniture

Furniture

0.27mi

Seller's Representative: Coa Realty Group, Empire Real Estate™
MLS ID#: 73305125

© 2024 MLS Property Information Network, Inc.. All rights reserved.

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2024-10-26 03:05:00