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    Merrimac Commercial Building with Drive-Thru Title is generated by Realmo AI

    12 School Street, Merrimac, MA 01860

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    Stand-alone 2,924 SF commercial building for lease in Merrimac, MA.

    Type:OFC, SCR-COM, SCR-FREE
    Property size:
    2,924 SF
    Added:
    Jun 26, 2025
    Days on Market:
    340
    Last Refresh:
    Apr 3 at 4:55 am

    Property Features for 12 School Street

    General Information

    Standard status
    Active
    Size
    2,924 SF
    Property subtype
    OFC, SCR-COM, SCR-FREE

    Building Details

    Year Built
    1970

    Spaces For Lease

    at 12 School Street Contact us

    We can help!

    Listing Contact
    Janet Faulkner
    Janet Faulkner

    Listing agent Janet Faulkner License #066987

    Listing office KW Commercial | Faulkner Commercial Group

    Listing date Jun 26, 2025

    Source Realnex

    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 KW Commercial | Faulkner Commercial Group

    HighLights

    • High‑traffic location in the heart of Merrimac, MA.
    • Stand‑alone 2,924 SF commercial building for lease.
    • 28 on‑site parking spaces.
    • Drive‑thru window.
    • Prominent pylon signage for strong street visibility.
    • Flexible space: evenly divided between first floor and lower level (1,462 SF each).

    Overview

    A 2,924 square foot stand-alone commercial building is available for lease in Merrimac, MA. The space is evenly divided between the first floor and lower level, each offering 1,462 square feet. This layout provides flexibility for various business uses, including retail, office, or restaurant. Key features include a drive-thru window, three restrooms, one of which is ADA-compliant, and prominent pylon signage for strong street visibility. The property also includes 28 on-site parking spaces. The layout and amenities make this property suitable for businesses seeking a functional, accessible, and high-traffic location. This is a rare opportunity to lease a free-standing building with strong visibility and infrastructure already in place.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrimac
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.0017443
    Latitude
    42.8332677

    Nearby Similar for Lease

    • $4,800/Mo
      2,924 SF

      Merrimac Commercial Building For Lease

      Stand-alone commercial building in Merrimac, suitable for retail, office, restaurant.
      12 School St, Merrimac, MA 01860
      View Details
    • $13 SF/Yr

      Merrimack Plaza

      Prime retail space with excellent visibility and ample parking.
      117 E Main St Merrimac, MA 01860, Merrimac, MA 01860
      View Details

    FAQs

    What type of property is this?
    Storefront property - Stand-alone 2,924 SF commercial building for lease in Merrimac, MA.
    Where is this storefront property located?
    The property is located at 12 School Street Merrimac, MA.
    What are key features of this property?
    This property features: High‑traffic location in the heart of Merrimac, MA.; Stand‑alone 2,924 SF commercial building for lease.; 28 on‑site parking spaces.
    (978) 828-8944
    We can help!
    Listing Contact
    Janet Faulkner
    Janet Faulkner
    Real Estate License ID: 066987
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    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
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