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 Market191
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:
Home Shop Properties, Inc.
(978) 655-3016
Listed By:
Johan Lopez · License #G8000671
(978) 804-7425
Source:
Churchillprop
Added: Apr 22
Changed: Oct 25
Last Checked: Oct 28 at 5:41AM
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 Home Shop Properties, Inc.
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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 / Yr
$108,441
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 151 Hampshire St, Lawrence, MA 01840
- U-Haul Moving & Storage of Manchester Park — 65 Manchester St, Lawrence, MA 01841
- U-Haul of Lawrence — 375 Broadway #28, Lawrence, MA 01841
- U-Box at U-Haul — 375 Broadway #28, Lawrence, MA 01841
- Bargain Rent-A-Car — 27 Manchester St, Lawrence, MA 01841
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.
