Peabody, MA Commercial Real Estate for Sale and Lease

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What to Expect

With a population of around 51,300, this Essex County city, which is roughly 15 miles northeast of Boston, is large enough to have plenty of commercial real estate offerings. Whether you seek office, industrial or retail space or are leasing or buying, you'll find the perfect thing right away by using our search feature.

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After submitting the form on this page, use our search feature to identify viable commercial properties in this city. You can further refine your results based on square footage, price and other criteria. Every listing includes in-depth descriptions, photos and, in many cases, virtual tours and floor plans.

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With 16.2 square miles of land within the city limits, this town of 52,491 in Essex County, Massachusetts, has a vibrant density and a slew of natural and cultural attractions. Located only 15 miles from Boston, the area is prime for redevelopment. Investors will delight in how close the city center is to the neighboring town of Salem, which opens up the possibility for recreational, hospitality, and mixed-use developments to capitalize on the high number of visitors that come to the area annually.

Green spaces include the banks of the Ipswich River, the Waters River, the Suntaug Lake, the Winnona Pond Conservatory Land, and numerous small city parks and recreation areas. A historic preservation site containing the Nathaniel Felton Houses regularly attracts architectural tourists. The city is exceptionally easy to reach by car via a number of major thoroughfares, including Route 128, Interstate 95, Route 35, Route 114, and Interstate 95. Although there is no dedicated MBTA Commuter Rail line stop in town, neighboring Salem contains a station. Those who prefer to travel by bus can do so via the MBTA Bus service.

Commercial parcels of land are highly desirable in this area. The property at 0 Newbury Street is located near the Winnona Pond Conservatory Land off Route 1. The lot had previously been earmarked for hotel development, but is open to a number of other business possibilities. The 2.00 acre site will need fill brought in to create a level surface. The price for this lot is $1,900,000.

For those investors interested in developing a residential property, the parcel at 160R Main Street offers an ideal lot in a downtown location. Located on the riverfront, the 0.70 acre lot is permitted for a 40 unit apartment or condo complex. The sale list price for this property is $2,500,000.

The property at 41 Newbury Street is located off Route 1 near the Winnona Pond Conservatory Land and features 1.01 acres of commercially zoned land. The proposed use includes a 10,000 square foot retail/fast food complex. The sale price for this property is $1,500,000. Meanwhile, the property at 58-60 Foster Street has an unbeatable downtown location. The 0.32 acre property has been classified as a redevelopment project, with due diligence to be conducted by the new buyer. The sale list price for this property is $499,900.

Office Space Market

The array of historically preserved buildings and recently constructed office complexes in this city has created a variety of different spaces available for lease or purchase, most of which are competitively priced. The structure at 185 Lake Street is located off Route 1 in a scenic setting on four acres of lakefront property, and features a beautifully maintained three story mansion dating from 1883. With a driveway that leads to a gazebo-like covered entry, the white clapboard structure has bay windows and a variety of differently sized suites for lease. These range from 300 square feet in size to 1,500 square feet. With a total leasable area of 12,000 square feet, the estimated rent for this property has not been disclosed.

The five story brick building at 80 Foster Street has an excellent location close to the downtown business district. With a typical floor size of 6,900 square feet, the 50,000 square foot building occupies a 0.95 acre lot, and was built in 1920. The ground floor features a canopied entrance and street parking. Currently, a 1,938 square foot office unit is available for purchase that features two half baths, carpeted floors, and street level signage. The sale list price for this unit is $64,900, or $34.49 per square foot.

Meanwhile, the three story office complex at 39 Cross Street is suited to medical office needs. With a bright central atrium and a landscaped lot, this 26,000 square foot building is located close to downtown off Route 114. The building features a masonry exterior over a steel frame construction with ribbon windows and underground parking. Suites vary in size from 395 square feet to 1,723 square feet. Built in 1987, the building has been well maintained. The estimated rent for this property has not been disclosed.

Retail Space Market

A mixture of complexes out by the interstate and ground floor storefront suites near busy downtown sidewalks make up the bulk of the retail market in this area. The retail complex at 130 Newbury Street is located off Route 1, and features a large onsite parking lot. It also has two stories of retail, allowing patrons to look out at their surroundings from the second floor. Built in 2012, the building has a total of 30,282 square feet of leasable space, and has an average unit size of 1,440 square feet. The estimated rent for this property is $2.08 per square foot per month.

The retail complex at 82 Newbury Street has signage viewable from Route 1, and is sited on a parking lot near other businesses. The wide open floor plans make this an ideal locale for custom configuration or build-outs. With 16,164 square feet of total leasable space, the property currently has a space of 1,900 to 3,000 square feet available. The estimated rent for this property is $1.17 per square foot per month.

For those who want a downtown location in a classic brick building, the property at 65-75 Main Street may offer the perfect solution. Built in 1880, the three story brick building has ample display windows on the ground floor that look out on a busy sidewalk in downtown. With 11,774 square feet of leasable area, the property has suites of approximately 1,000 square feet available. These suites have been fully remodeled. The estimated rent for this property is $1.17 per square foot per month.

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