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33532920
33532919

159 South Union Street, Lawrence, MA 01843

DK
MA MA 9504385
Horvath & Tremblay
SN
MA 9562958
Horvath & Tremblay
Listed by Horvath & Tremblay
$1,975,000
0 days on market
Updated 0 days ago
Opportunity zone

161-167 S Union St

Details
Property Type Mixed Use
Square Footage 15,000
Net Rentable (SqFt) 11,280
Units 9
Cap Rate 9.17%
NOI $181,029
Price per SqFt $175
Year Built 1930
Buildings 1
Stories 3
Acreage 0.160
Parking Spaces 7 spaces
Parking Per SqFt 0.47
Ground Lease No
Ownership Fee Simple

Mixed Use | 9 Units | 15,000 Sq Ft

Marketing description

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the mixed-use investment property located at 161-167 South Union Street in Lawrence, MA (the “Property”). The three-story building contains nine (9) total units, comprised of seven (7), 3-Bedroom/1-Bathroom units and two street-level commercial units with 11,280 square feet of gross living area in 15,000 square feet of gross area. Both commercial units are occupied by Hayes Tavern, who recently signed a brand-new lease. The Property is situated on a 0.16-acre parcel and features seven (7) off-street parking spaces.

161-167 South Union Street is strategically located in South Lawrence, providing strong urban visibility within a well-established neighborhood and convenient access to local amenities. The Property is situated in a highly walkable area with numerous retailers, services, and community amenities. Its location places it within walking distance of key regional transit nodes, including the Lawrence MBTA Commuter Rail station, facilitating direct connections to Boston and the surrounding metropolitan area. The site is near major thoroughfares with convenient access to I-495 and Routes 28 and 114, supporting efficient regional travel throughout the Merrimack Valley and into Greater Boston. Nearby commercial and recreational amenities, including multiple shopping plazas, parks such as Lawrence Heritage State Park, and a range of dining and service options, further enhance tenant appeal and livability in this dynamic, transit-oriented urban environment.

Investment highlights

TRANSPORTATION & CONNECTIVITY

The Property is less than a 5-minute drive from Interstate 495 (I-495) access points in Lawrence, providing direct regional highway linkage north toward the New Hampshire border and south toward I 93 and the greater Boston employment corridor. Residents also benefit from proximity to the MBTA Lawrence Commuter Rail Station at the Senator Patricia McGovern Transportation Center at South Union Street and Merrimack Street, which serves the Haverhill Line with direct service into Boston and other Merrimack Valley communities. The McGovern Transportation Center functions as the city’s primary intermodal hub, with multiple Merrimack Valley Transit (MeVa) bus routes converging there, including routes such as 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 14, and 24 that circulate through Lawrence and connect to key retail, institutional, and employment nodes.

AREA AMENITIES & DEMAND DRIVERS

161-167 South Union Street is situated in Lawrence’s South Lawrence/South Common area, a walkable residential neighborhood supported by a strong base of retail, services, and employment that drives demand for multifamily housing.

The Property is less than a mile from multiple neighborhood shopping centers along Winthrop Avenue, including Plaza 114 and Stadium Plaza, which offer grocery, convenience retail, dining options, and daily-needs services attractive to renters seeking car-light living.

Residents also have convenient access to downtown Lawrence and the broader city, which features a diverse range of employers in healthcare, life sciences/medical devices, social services, education, manufacturing, and design/professional services, including Lawrence General Hospital, NxStage Medical, Chartwell Diversified Services, CUBE 3, and other regional firms that collectively support a large employment base in and around the city.

PRIME MERRIMACK VALLEY LOCATION

Lawrence is strategically located in the heart of the Merrimack Valley, offering strong regional connectivity and access throughout northeastern Massachusetts and southern New Hampshire. Situated approximately 25 miles north of Boston, the city benefits from immediate access to major transportation corridors including I-495, I-93, Route 28, and Route 114, as well as direct MBTA commuter rail service to Boston via the Haverhill Line. Lawrence’s central location supports a robust commuter base and regional commerce, while ongoing revitalization efforts, historic mill redevelopment, and proximity to major employment centers enhance its appeal as a place to live, work, and invest.

SEPARATELY METERED UTILITIES

The Property is separately metered for gas powered heat & hot water, as well as individually metered electricity, which tenants pay directly. The Landlord is responsible for providing domestic water and sewer, which they pay directly.

STRONG RENTAL DEMOGRAPHICS & DEMAND

More than 34,100 people live within 1 mile of the Property with an average household income of $83,270. Over 155,200 people reside within 3 miles of the Property with an average household income of $110,536.

QUALITY OF LIFE AMENITIES

Nearby, residents can access Lawrence Heritage State Park and the Spicket River and Merrimack River waterfront park system for walking, biking, and passive recreation, along with regional open-space destinations such as Stevens-Coolidge Place, Smolak Farms, and Windrush Farm within a short drive.

Nearby dining options include brick-oven pizza and craft beer in the Canal District, popular Mexican and Puerto Rican restaurants, neighborhood pubs, and classic breakfast diners all within a short drive of the Property.

In the civic heart of Lawrence, Campagnone Common, a 17.5 acre central green with ballfields, playgrounds, the Robert Frost Fountain, and community gathering spaces, anchors year-round community programming and offers an attractive urban park amenity for city residents.

Listing Contacts

DK
MA MA 9504385
Horvath & Tremblay
SN
MA 9562958
Horvath & Tremblay
Listed by Horvath & Tremblay

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$181,029.00
$15,085.75/mo

Valuation Metrics

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DSCR
9.17%
Cap Rate
9.17%
ROI

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Additional Information

Name
Dennis Kelleher
License
MA 9504385
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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