Building Details

Building Size 1,651 SF

Year Built 1985

Tenancy Multi

Listing Agency: Keller Williams Realty Evolution Show Phone

Listed By: Shailyn Harrington Danahy Show Phone

Source: Condonrealty

Added: Oct 19 Changed: Oct 23 Last Checked: Oct 23 at 4:25PM

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Investment Insights

Based on property information with market context.

This retail condominium comprises two adjoining end units totaling 1,651 square feet. The spaces have flexible layouts and two private restrooms. Current occupants include a hair salon and a beauty supply retailer; the salon business is also available for purchase with the real estate.

The property is on Boston Road, designated Route 3A, in Billerica. I-495 and Route 3 are a short drive away. The site also has on-site parking and signage opportunities.

Key Highlights

• Two adjoining end‑unit retail spaces totaling 1,651 square feet
• Two private restrooms
• Current uses include a hair salon and a beauty supply retailer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,730

Cap Rate

5.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$474,600 $474.6K

Cap Rate 7%

$339,000 $339.0K

Cap Rate 9%

$263,667 $263.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,651 SF

Gross rent

$36.3K $21.96/SF

− Vacancy

−$2.4K −$1.43/SF

EGI

$33.9K $20.53/SF

− OpEx

−$10.2K −$6.16/SF

NOI

$23.7K $14.37/SF

Area

Middlesex County, MA

Vacancy

6.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$474,600

Cap Rate 7%

$339,000

Cap Rate 9%

$263,667

Alternative Uses

Best Use

Retail

$339.0K

$296.6K – $395.5K (±1% cap)

NOI $23,730 @ 7.0% cap · market cap 5.46%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$977.4K

$855.2K – $1.14M (±1% cap)

NOI $68,417 @ 7.0% cap · market cap 15.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Talk of the Town Hair Salon BB Hair Salon ... Hair Salon Haircuts Hair Salon Expresso Pizza Restaurant Blackbird tattoo co. Tattoo & Piercing Shop

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm (Bike/Boat/Book/etc) Store Locksmith Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

340

Businesses Nearby

59k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 73% Shops & Services 25% Beauty & Spa 2%

Starbucks Dining

17,646 visits/mo 0.5 miles

Speedway Shops & Services

14,591 visits/mo 0.5 miles

Panera Bread Dining

12,807 visits/mo 0.4 miles

Dunkin' Donuts Dining

12,529 visits/mo 0.5 miles

Massage Envy Beauty & Spa

1,240 visits/mo 0.5 miles

Demographics for 01862, MA

11,430

Population

4,263

Households

2.7

Avg Household Size

40

Median Age

39%

College-Educated

91%

High-School Grad

9.1 sq mi

ZIP Area

1,256

Density / Sq Mi

$131,214

Median Household Income

$67,595

Median Earnings

$1,881

Median Rent

$503,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - The adjoining spaces have flexible layouts, two private restrooms, and on-site parking.

Where is this retail space located?

The property is located at 131 Boston #11&12 Billerica, MA.

What is the asking price?

The asking price for this property is $435,000.

What are key features of this property?

This property features: Two adjoining end‑unit retail spaces totaling 1,651 square feet; Two private restrooms; Current uses include a hair salon and a beauty supply retailer