4 Lake St, Peabody MA 01960
Peabody, MA 01960
$2,700,000
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Sale Statistics
Sale Overview
Original List Price:
$3,400,000
Final Sale Price:
$2,700,000
Difference:
$700,000 (-20.6%)
Performance Metrics
79.4%
List to Sale Ratio
Sold below asking price
74
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft:
$462
Sale $/sq ft:
$367
This property sold for $367 per square foot
Sale Summary
This property sold for 20.6% below the original asking price.
The property spent 74 days on market before selling.
About this home
The retail strip consists of 7 fully leased stores with a diverse mix of tenants, including a Greek Bakery, Tattoo Shop, Nail/Pedicure Salon, Driving School, Chinese Fast-Food Restaurant, Barbershop, and Physical Therapy Establishment. Convenient location on Lake Street, cornering Lowell Street, attracting customers from surrounding areas like West Peabody, Lynnfield, and Reading and more. Well-maintained property with ample parking and convenient access for deliveries. Fully leased properties ensure immediate income generation for investors, providing stability and cash flow. With the adjacent residential property also fully leased, investors benefit from diversified income streams. Given the prime location and zoning designation, there may be opportunities for future development or renovation to increase the value of the properties further. This property could be sold with MLS # 732114637 which is priced at $799,900.
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Recently Sold Nearby
Property History
Market Insights
97.9%
Price Range
1
Previous Sales
Property Timeline
Sold
Jun 26, 2024
$2,700,000
Property sold
Listed for Sale
Mar 20, 2024
$3,400,000
Original listing
Agent: Frank Pasciuto
Office: Pasciuto and Associates
Previous Transaction - MLS #73184804
Full transaction history available when tracking began
Previously Sold
Jan 8, 2024
$72,000
MLS #73184804
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 06/26/2024 | ✓ Sold | $2,700,000 | - | - | Property sold |
| 03/20/2024 | 🏠 Listed for Sale | $3,400,000 | - | - | Original listing |
| 01/08/2024 | 🏷️ Previously Sold | $72,000 | - | - | MLS #73184804 |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2024 | $25,283 | — |
Financial Details
Annual Property Tax
$25,283
Tax Year 2024
Facts & Features
Home Facts
Type
Commercial Sale
Year Built
1960
Living Area
7,360 sq ft
Lot Size
1.85 acres
Interior
Heating
None
Cooling
None
Flooring
None
Appliances
None
Fireplace
None
Basement
None
Laundry
None
Features
None
Exterior
Construction
None
Architecture
None
Roof
None
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
None
Utilities
Electric
None
Water
None
Sewer
None
Gas
None
Other
Public Water, Public Sewer
Financial
Annual Tax
$25,283
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Seller Disclosures
Owner Would Like To Sell 4 Lake Street With 12 Lake Street. Mls # Is 73214637 An Nda Attached To This Listing Must Be Signed Before Any Financials Are Provided.however Individual All Would Be Presented.
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Documents
None
County
Essex
Property Overview
Listing Type
Sold
Year Built
1960
Living Area
7,360 sq ft
Floor Layout
Interactive room guide
Floor Layout
Display Options
Room Markers
KKitchen (1)
BABathroom (4)
BRBedroom (5)
DDining (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:
Construction & Materials
Year Built:
1960
Structure Type:
Exterior Materials:
Roof:
Foundation:
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Water Source:
Sewer:
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:
Parking & Garage
Parking Features:
Nearby Schools
School District
Peabody School District local
C
School Safety
2024-25
2.1%
Average
1.9%
Suspensions
1.7%
In-School
0.2%
Emergency
3.4% below state avg
Elementary Schools
10 schools
Covenant Christian Academy
0.4 mi
Grades PK-12
The Recreational Education Center, LLC
0.4 mi
Grades PK-12
F
Peabody Personalized Remote Education Program (Peabody P.R.E.P.)
1.0 mi
|
#346 of 346
|
Score: 14.3
Improved 32 spots from last year
-43.9 below state avg
97 students
Diverse
Rising School
Grades K-12
B+
West Memorial School
0.4 mi
|
#284 of 824
|
Score: 51.2
Improved 182 spots from last year
-7 below state avg
294 students
Moderate
Rising School
Grades PK-05
C
John E. McCarthy School
0.7 mi
|
#612 of 824
|
Score: 40.0
Dropped 34 spots from last year
-18.2 below state avg
385 students
Diverse
Diverse Student Body
Grades K-05
B+
John E Burke School
1.3 mi
|
#298 of 824
|
Score: 50.9
Improved 239 spots from last year
-7.3 below state avg
294 students
Moderate
Rising School
Grades K-05
C-
Center School
3.4 mi
|
#731 of 824
|
Score: 33.7
Dropped 351 spots from last year
-24.6 below state avg
123 students
Diverse
Diverse Student Body
Grades PK-05
A-
South Memorial School
3.7 mi
|
#235 of 824
|
Score: 53.0
Improved 270 spots from last year
-5.2 below state avg
506 students
Moderate
Rising School
Grades PK-05
B-
Captain Samuel Brown School
4.1 mi
|
#482 of 824
|
Score: 45.3
Improved 39 spots from last year
-12.9 below state avg
369 students
Diverse
Rising School
Grades K-05
C-
William A Welch Sr School
4.4 mi
|
#666 of 824
|
Score: 37.6
Improved 124 spots from last year
-20.7 below state avg
408 students
Diverse
Rising School
Grades K-05
Middle Schools
1 school
C+
J. Henry Higgins Middle School
3.7 mi
|
#240 of 352
|
Score: 37.2
Improved 5 spots from last year
-21 below state avg
1,320 students
Diverse
Grades 06-08
High Schools
2 schools
C
Peabody Veterans Memorial High School
1.7 mi
|
#251 of 346
|
Score: 45.9
Improved 8 spots from last year
-12.3 below state avg
1,333 students
Diverse
19 sports
• 1,614 athletes
Career Tech Programs
Strong Athletics
Grades 09-12
Bishop Fenwick High School
4.7 mi
17 sports
• 1,390 athletes
Strong Athletics
Grades 09-12
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Location
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Neighborhood
4 Lake St, Peabody MA 01960
Peabody, MA 01960
Listing Information
Listing Agent
Frank Pasciuto
Listing Office
Pasciuto and Associates
Office Phone
781-883-0707
Agent MLS ID
B0367814
Office MLS ID
AN6511
Listing Data Updated
Jun 27, 2024 6:07 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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