November 10, 2022 – Dennis Kelleher, John Pentore and Spencer Norton of Horvath & Tremblay have arranged the sale of a mixed-use investment property (retail and residential units) in Lawrence, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $2,800,000.
The mixed-use residential and retail property is located at 281-285 Essex Street in Lawrence, Massachusetts. The Mixed-Use Property is comprised of sixteen (16) units consisting of two (2) commercial units (leased to Reyes Appliance and Angels Nails), eleven (11), 2-Bedroom/1-Bathroom units, and three (3), 1-Bedroom/1-Bathroom units with 18,000 square feet of total gross area on 0.11-acre parcel of land. 281-285 Essex Street is centrally located in Lawrence’s vibrant downtown. The Property is positioned adjacent to the signalized intersection of Lawrence Street and Essex Street. The high-traffic location provides walkable access to a multitude of downtown businesses, government employers and amenities, including Lawrence City Hall, Lawrence General Hospital, Central Catholic High School and numerous retailers and restaurants. The location features convenient access (0.8-miles) to MBTA commuter rail and Express-bus service to Boston via the nearby McGovern Transportation Center. Regional highway access is also easily accessed via nearby Interstates 495 and 93 as well as MA Route 28.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.