Owner-User or Investment Opportunity | Prime Danvers Location near Rt 128 & I-95

Highlights:

• 31,250 SF building
• Two units
• Built in 1985
• Zoned C3
• Located in Boston MSA
• Projected gross income: $630,000 annually
• Allows general and medical office uses
• Adjacent to Liberty Tree Mall
• Excellent access to Route 128/I-95

Description:

5 Federal Street is a two-story, ±30,000 rentable square foot office building situated on 1.63 acres in Danvers, Massachusetts. Zoned Commercial C-3, the property allows for a broad range of general and medical office uses. The first floor is fully leased to Beth Israel Lahey Health, a nationally recognized healthcare provider and long-term tenant at the property since 2015. The second floor offers approximately 15,000 RSF of available space, ideal for owner-occupiers or investors seeking upside through lease-up.

Located adjacent to Liberty Tree Mall with excellent access to Route 128/I-95, the property offers high visibility and strong accessibility within a key North Shore commercial corridor. The building is constructed with a concrete slab and steel frame, featuring brick exterior walls, a TPO membrane roofing system, and 120 surface parking spaces.

Additional building features include:

One passenger elevator

Four restrooms (two per floor)

Rooftop gas-fired heating and electric A/C

Fully sprinklered

Municipal water, sewer, and gas

Projected gross income is $630,000 annually based on full lease-up at $16.50/SF for the second floor. Real estate taxes are $82,619, and net operating expenses (excluding utilities) total $113,200. Tenants pay separately metered gas and electric, and their proportionate share of any increases in taxes and operating costs.

This offering represents a compelling opportunity for an investor or owner-user to acquire a well-located, income-producing asset with stable tenancy and leasing upside in one of Danvers' most accessible and amenity-rich submarkets.

Highly accessible office location in Danvers with direct connectivity to Route 128, I-95, and Route 1, offering convenient access to Greater Boston, Logan Airport, and surrounding North Shore communities. The property is situated in a well-established business corridor near major employers, including Lahey Health, Medtronic, and North Shore Community College, which supports a strong professional labor pool. Nearby amenities include Liberty Tree Mall, TD Bank, Citizens Bank, Lifetime, and national retailers such as Home Depot, Kohl’s, Staples, Best Buy, and Marshalls, along with dining options like Chipotle, Panera Bread, Buffalo Wild Wings, Texas Roadhouse, and Dunkin'. Public transportation is available via MBTA bus service, with commuter rail stations located within a 10-minute drive. Ideal for professional office, medical, or service-based users seeking a central location with excellent infrastructure, workforce accessibility, and proximity to key services.

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