Mixed-Use Village Center
For Sale
$1,925,000
22-26 School Street, Merrimac, MA 01860
Two-building mixed-use property includes a modern office building and a two-family residence with two income-producing apartments.
Property Size5,362 SF
Lot Size1.16 Acres
Price / SF$359.01
Days on Market96
Property Features for 22-26 School Street
General Information
Standard status
Active
Size
5,362 SF
Lot size
1.16 Acres
Property subtype
OFC, RES
Zoning
Village Center
Units
Multifamily Units
2
Office Units
1
Additional Details
Highway Access
Yes
Building Details
Year Built
1855
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Janet Faulkner · License #066987
(800) 281-1316
Source:
Realnex
Added: Jul 17
Changed: Jul 19
Last Checked: Oct 19 at 3:11AM
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 Keller Williams Realty
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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 mixed-use Village Center-zoned property comprises two separate buildings on a single parcel. The first is a 2,800 SF professional office building constructed in 2013 and currently leased to an established dental practice. The second building is a 2,562 SF two-family residence that includes two income-producing apartments.
The property is described as being well located in Merrimac, with convenient access to I-495 and Route 110 and travel connections to Newburyport, Amesbury, Haverhill, and Southern NH.
Financial information is available upon execution of a Confidentiality Agreement, and prospective buyers are encouraged to perform due diligence in all aspects of a contemplated acquisition. The remarks also note that redevelopment possibilities exist.
The property is described as being well located in Merrimac, with convenient access to I-495 and Route 110 and travel connections to Newburyport, Amesbury, Haverhill, and Southern NH.
Financial information is available upon execution of a Confidentiality Agreement, and prospective buyers are encouraged to perform due diligence in all aspects of a contemplated acquisition. The remarks also note that redevelopment possibilities exist.
Key Highlights
- 1.164± acre Village Center‑zoned mixed‑use property with two separate buildings
- 2,800 SF professional office building built in 2013, leased to an established dental practice
- 2,562 SF two‑family residence with two income‑producing apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,455
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,989,100
$3.0M
Cap Rate 7%
$2,135,071
$2.1M
Cap Rate 9%
$1,660,611
$1.7M
Market Conditions
NOI Build-Up for 5,362 SF
Gross rent
$244.5K $45.60/SF
− Vacancy
−$45.2K −$8.44/SF
EGI
$199.3K $37.16/SF
− OpEx
−$49.8K −$9.29/SF
NOI
$149.5K $27.87/SF
Area
Essex County, MA
Vacancy
18.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,989,100
Cap Rate 7%
$2,135,071
Cap Rate 9%
$1,660,611
Alternative Uses
Best Use
Office B
$2.14M
$1.87M – $2.49M
NOI $149,455 @ 7.0% cap · market cap 7.76%
Second Best
Mixed Use
$1.55M
$1.36M – $1.81M
NOI $108,581 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$3.17M
$2.78M – $3.70M
NOI $222,200 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 01860, MA
6,723
Population
2,851
Households
2.4
Avg Household Size
47
Median Age
37%
College-Educated
95%
High-School Grad
8.5 sq mi
ZIP Area
791
Density / Sq Mi
$116,477
Median Household Income
$60,643
Median Earnings
$1,236
Median Rent
$531,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building mixed-use property includes a modern office building and a two-family residence with two income-producing apartments.
Where is this mixed-use property located?
The property is located at 22-26 School Street Merrimac, MA.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: 1.164± acre Village Center‑zoned mixed‑use property with two separate buildings; 2,800 SF professional office building built in 2013, leased to an established dental practice; 2,562 SF two‑family residence with two income‑producing apartments
