Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    354 Merrimack St Lawrence, MA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available in a mixed-use campus.

    Type:OFFICE
    Property size:
    1,650 SF
    Lot size:
    3.57 Acres
    Added:
    Jun 20, 2024
    Days on Market:
    679
    Last Refresh:
    Apr 5 at 9:28 pm

    Property Features for 354 Merrimack St

    General Information

    Standard status
    Active
    Size
    1,650 SF
    Lot size
    3.57 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 354 Merrimack St Contact us

    We can help!

    Listing Contact
    Scott Moreau
    Scott Moreau

    Listing agent Scott Moreau

    Listing office Lupoli Companies

    Listing date Jun 20, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Lupoli Companies

    Overview

    Office Space in Riverwalk District

    Located within the Riverwalk Innovation District, this property is part of a mixed-use campus featuring office, retail, and residential spaces. On-site amenities include restaurants, banks, a daycare, and function space. The property is located immediately off Route 495 and is minutes from Routes 93, 95, and the Lawrence MBTA Commuter Rail Station. The property offers 1650 square feet of office space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Salvatore's Restaurant Isurus Market Research ... Advertising Agency Rene Thomas, DC Alternative Medicine Practice Paul Schoonman D.C. Alternative Medicine Practice Joe Kim at CrossCountry ... Loan Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1442
    Latitude
    42.7047

    Nearby Similar for Lease

    • $14 SF/Yr

      Lawrence Industrial Flex Condominium Unit

      9,975 SF flex space with warehouse and office buildout.
      678 Andover St unit: 3, Lawrence, MA 01843
      View Details
    • $5,900/Mo

      Revitalized Downtown Retail Opportunity

      Centrally located retail space in a revitalized, growing downtown area.
      218 Essex St, Lawrence, MA 01840
      View Details
    • $6,000/Mo

      Top-Floor Medical Suite for Lease

      Medical suite with river views near Lawrence General Hospital.
      25 Marston St #402, Lawrence, MA 01841
      View Details
    • $5,800/Mo

      Retail Space Near Interstate 495

      Retail space with high visibility and easy highway access.
      601 South Union Street #2, Lawrence, MA 01843
      View Details
    • $14 SF/Yr

      Lawrence Industrial Flex Condominium Unit

      9,975 SF flex space with warehouse and office buildout.
      678 Andover St #3, Lawrence, MA 01843
      View Details
    • $10,000/Mo

      Versatile Commercial Space Available

      Adaptable space suitable for restaurant, gym, entertainment, or events.
      250 Canal Street #Front, Lawrence, MA 01840
      View Details
    • $2,200/Mo

      Retail Space on Route 28

      Retail space in mini plaza with high traffic volume.
      8 South Broadway, Lawrence, MA 01843
      View Details
    • $900/Mo

      Office Unit with Private Amenities

      Office space with private bath and kitchenette near highways.
      1 Ballard Way, Lawrence, MA 01843
      View Details
    • $595/Mo

      Office Space with Utilities Included

      Office space for rent with utilities included and parking.
      49 Blanchard St #408, Lawrence, MA 01834
      View Details
    • $6,000/Mo

      Top-Floor Medical Suite for Rent

      Stunning medical suite with river views near Lawrence General Hospital.
      25 Marston St 402, Lawrence, MA 01841
      View Details
    • $18 SF/Yr

      Freestanding Brick Building For Lease

      Freestanding brick building suitable for office, manufacturing, medical, or storage.
      81-83 Holly Street, Lawrence, MA 01841
      View Details
    • $350/Mo

      Office Space in Lawrence, MA

      Office space for lease in a fast-growing city.
      49 Blanchard St #416, Lawrence, MA 01834
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available in a mixed-use campus.
    Where is this office units located?
    The property is located at 354 Merrimack St Lawrence, MA.
    What are key features of this property?
    This property features: Location within Riverwalk's Innovation District (live, work, play environment).; On‑site amenities including restaurants, banks, and daycare.; Immediate access to Route 495.
    (978) 479-5852 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott Moreau
    Scott Moreau
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!