540 Merrimack St Lowell, MA 01854

Located on the corner of Merrimack Street and Hanover Street, this mixed-use property presents a redevelopment opportunity within the MBTA overlay district. The sale includes three parcels: 540 Merrimack Street, featuring an existing mixed-use building with two commercial units and six residential apartments on 0.03 acres; 520 Merrimack Street, an adjacent 0.31-acre vacant lot currently leased for parking; and 11 Hanover Street, a 0.03-acre lot providing a second entrance to the parking lot and access around the existing building. The building at 540 Merrimack Street, known as the El Kareh building, includes commercial space on the ground floor. One unit formerly housed a hair salon, while the other, with a separate entrance on Hanover Street, was previously a dress shop. The upper floors contain up to six apartments. The second floor was once used as a dentist's office. Utilities are connected. The adjacent lot provides parking for both businesses and residences. The parking lot is currently leased to an adjacent market on a month-to-month basis.