Flexible Creative
191 Elm St #B, Salisbury, MA 01952
For Sale
Contact for pricing
Versatile commercial space offers elevator access, on-site parking, and convenient connections to Routes 495 and 95.
Property Size3,450 SF
Price / SF$0.01
Days on Market61
Property Features for 191 Elm St #B
General Information
Standard status
Size
Elevators
Additional Details
Highway Access
Building Details
Year Built
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
The North Shore Realty Group
(978) 710-9388
Source:
Lockandkeyre
Added: Sep 10
Changed: Nov 8
Last Checked: Nov 8 at 6:20AM
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 LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,450± SF commercial space, completed in 1988, provides a flexible setting for creative and professional operations. The layout can accommodate office functions, a medical or doctor’s office, dance or fitness instruction, martial arts training, or other workspace needs. Elevator service supports convenient access throughout the building.
The property includes on-site parking and is positioned for access to Routes 495 and 95. Its combination of adaptable commercial space, building access, and parking supports a range of business formats without limiting the premises to a single use.
The property includes on-site parking and is positioned for access to Routes 495 and 95. Its combination of adaptable commercial space, building access, and parking supports a range of business formats without limiting the premises to a single use.
Key Highlights
- 3,450± SF of adaptable commercial space
- Built in 1988
- Access to Routes 495 and 95
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,640
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,272,800
$1.3M
Cap Rate 7%
$909,143
$909.1K
Cap Rate 9%
$707,111
$707.1K
Market Conditions
NOI Build-Up for 3,450 SF
Gross rent
$115.9K $33.60/SF
− Vacancy
−$9.9K −$2.86/SF
EGI
$106.1K $30.74/SF
− OpEx
−$42.4K −$12.30/SF
NOI
$63.6K $18.45/SF
Area
Essex County, MA
Vacancy
8.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,272,800
Cap Rate 7%
$909,143
Cap Rate 9%
$707,111
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $96,162 @ 7.0% cap · market cap 506,115.79%
Second Best
Healthcare Medical
$909.1K
$795.5K – $1.06M
NOI $63,640 @ 7.0% cap · market cap 334,947.37%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,967 @ 7.0% cap · market cap 752,457.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 01952, MA
9,236
Population
4,981
Households
1.9
Avg Household Size
52
Median Age
44%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
600
Density / Sq Mi
$102,521
Median Household Income
$54,344
Median Earnings
$1,646
Median Rent
$450,100
Median Home Value
Market
Average Price Trend$/SF for Creative space in Essex County, MA
Properties on Market for Creative space in Essex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Creative space - Versatile commercial space offers elevator access, on-site parking, and convenient connections to Routes 495 and 95.
Where is this creative space located?
The property is located at 191 Elm St #B Salisbury, MA.
What are key features of this property?
This property features: 3,450± SF of adaptable commercial space; Built in 1988; Access to Routes 495 and 95
