Renovated Commercial Asset with
For Sale
$2,690,000
17 Broadway, Methuen, MA 01844
High-visibility commercial property with established businesses for sale.
Property Size6,600 SF
Lot Size0.33 Acres
Price / SF$407.58
Days on Market146
Property Features for 17 Broadway
General Information
Standard status
Active
Size
6,600 SF
Lot size
0.33 Acres
Property subtype
Commercial
Zoning
RG
Taxes and HOA fees
Annual Taxes
$7,850
Building Details
Year Built
1998
Listing Agency:
RE/MAX Partners
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 22
Changed: Sep 13
Last Checked: Sep 13 at 4:37AM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This offering presents a rare opportunity to acquire a high-visibility commercial asset on Broadway in Methuen, MA. The property was totally renovated in 2023. Included in the sale are the established businesses Musicarro Auto Sound and Musicarro Auto Sales, along with relevant licenses and permits. The package comprises three contiguous parcels totaling approximately 0.33 acres. It features a freestanding commercial building of approximately 6,600 square feet, accompanied by two additional lots currently utilized for parking. Musicarro Auto Sound has over 25 years of operation and local recognition. The property is strategically positioned along a heavily traveled corridor, providing excellent access to Routes 28, 110, 213, I-93, and I-495. It offers strong frontage, on-site parking, business continuity, and long-term upside. The location has a walk score of 74, indicating it is very walkable, a bike score of 35, indicating it is somewhat bikeable, and a transit score of 40, indicating some transit options are available.
Key Highlights
- Established Businesses Included: Musicarro Auto Sound and Musicarro Auto Sales with existing licenses and permits, offering immediate business continuity and revenue.
- High‑Visibility Location: Situated on Broadway in Methuen, MA, a heavily traveled corridor with strong frontage.
- The commercial building was totally renovated in 2023.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,441
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,168,820
$2.2M
Cap Rate 7%
$1,549,157
$1.5M
Cap Rate 9%
$1,204,900
$1.2M
Market Conditions
NOI Build-Up for 6,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$158.4K $24.00/SF
− Vacancy
−$3.5K −$0.53/SF
EGI
$154.9K $23.47/SF
− OpEx
−$46.5K −$7.04/SF
NOI
$108.4K $16.43/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,168,820
Cap Rate 7%
$1,549,157
Cap Rate 9%
$1,204,900
Alternative Uses
Best Use
Retail
$1.55M
$1.36M – $1.81M
NOI $108,441 @ 7.0% cap · market cap 4.03%
Second Best
Industrial
$1.00M
$877.6K – $1.17M
NOI $70,204 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$3.91M
$3.42M – $4.56M
NOI $273,502 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01844, MA
52,970
Population
19,496
Households
2.7
Avg Household Size
42
Median Age
30%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
2,397
Density / Sq Mi
$103,292
Median Household Income
$52,176
Median Earnings
$1,610
Median Rent
$471,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Automotive property - High-visibility commercial property with established businesses for sale.
Where is this automotive property located?
The property is located at 17 Broadway Methuen, MA.
What is the asking price?
The asking price for this property is $2,690,000.
What are key features of this property?
This property features: Established Businesses Included: Musicarro Auto Sound and Musicarro Auto Sales with existing licenses and permits, offering immediate business continuity and revenue.; High‑Visibility Location: Situated on Broadway in Methuen, MA, a heavily traveled corridor with strong frontage.; The commercial building was totally renovated in 2023.
