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    Prime Retail Space Available Title is generated by Realmo AI

    154 Elm St, Salisbury, MA 01952

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    For Lease
    $8 SF/Yr $5,400/Mo (calc)

    Retail space for lease near major highways in Salisbury.

    Type:Rental
    Property size:
    8,100 SF
    Lot size:
    0.45 Acres
    Added:
    Sep 9, 2023
    Days on Market:
    987
    Last Refresh:
    May 19 at 8:31 pm

    Property Features for 154 Elm St

    General Information

    Standard status
    Active
    Size
    8,100 SF
    Lot size
    0.45 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1976

    We can help!

    Listing Contact
    AJ Pappas
    AJ Pappas

    Listing agent AJ Pappas License #452001651

    Listing office eXp Realty

    Listing date Sep 9, 2023

    Source Exitrealty

    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 eXp Realty

    HighLights

    • Strategically located near major highways, providing excellent accessibility and visibility.
    • Ideal for retail businesses seeking high traffic and convenient access for customers.
    • Situated in an up‑and‑coming commercial hub.
    • Space can be subdivided into 2 or 3 spaces, offering flexibility.
    • Price per square foot as low as $8 for storage spaces.
    • Property built in 1976.

    Overview

    This commercial space for lease presents an opportunity for retail businesses. The property is strategically located near major highways within an up-and-coming commercial hub. The location offers convenient accessibility and visibility. The space, totaling 8100 square feet, can be subdivided into two or three spaces. The price per square foot is as low as $8 for the storage spaces in the back.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8880535
    Latitude
    42.8441711

    Nearby Similar for Lease

    • $12 SF/Yr
      3,282 SF

      Retail/Office Space on Route One

      Retail/office space with high visibility and ample parking.
      102 Bridge, Salisbury, MA 01952
      View Details
    • $20 SF/Yr
      1,200 SF

      Professional Office Space Available

      Office space for rent with heat, AC, and electric.
      191 Elm St #8, Salisbury, MA 01952
      View Details
    • $12 SF/Yr

      Retail/Office Space on Bridge Road

      Retail/office space in Salisbury, near downtown Newburyport, Massachusetts.
      102 Bridge #1E, Salisbury, MA 01952
      View Details
    • Contact for pricing

      Retail/Office Space on Bridge Road

      Retail/office space in Salisbury, one mile from downtown Newburyport.
      102 Bridge Road, Salisbury, MA 01952
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space for lease near major highways in Salisbury.
    Where is this retail space located?
    The property is located at 154 Elm St Salisbury, MA.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: Strategically located near major highways, providing excellent accessibility and visibility.; Ideal for retail businesses seeking high traffic and convenient access for customers.; Situated in an up‑and‑coming commercial hub.
    (978) 270-5225
    We can help!
    Listing Contact
    AJ Pappas
    AJ Pappas
    Real Estate License ID: 452001651
    Learn More
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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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