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 Market100
Property Features for 17 Broadway
General Information
Standard status
Active
Size
6,600 SF
Lot size
0.33 Acres
Property subtype
Commercial
Building Details
Year Built
1998
Listing Agency:
(978) 804-7425
Listed By:
Johan Lopez
(978) 804-7425
Source:
Elliman
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 30 at 7:21AM
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 Johan Lopez
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $158.4k | $24.00 |
| − Vacancy | −$3.5k | −$0.53 |
| EGI | $154.9k | $23.47 |
| − OpEx | −$46.5k | −$7.04 |
| NOI | $108.4k | $16.43 |
6,600 SF · lease $24.00/SF/yr · vacancy 2.20% · expense 30.00%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
52k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Texas Roadhouse
Dining
34,705 visits/mo
0.4 miles
Dunkin' Donuts
Dining
17,346 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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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.
