Building Details

Year Built 1880

Buildings 1

Listing Agency: Diamond Key Real Estate Show Phone

Listed By: Catherine Duff Show Phone

Source: Lockandkeyre

Added: Oct 1 Changed: Oct 4 Last Checked: Oct 5 at 6:09PM

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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 Diamond Key Real Estate

Investment Insights

Based on property information with market context.

Built in 1880, this two-unit duplex contains 3,200 square feet. Each unit has two bedrooms, separate utilities, a private driveway, and unfinished walk-up attic space.

The property occupies nearly 2 acres in Merrimac, Massachusetts.

Key Highlights

• Two units, each with 2 bedrooms
• 3,200 square feet
• Nearly 2 acres

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,908

Cap Rate

7.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,078,160 $1.1M

Cap Rate 7%

$770,114 $770.1K

Cap Rate 9%

$598,978 $599.0K

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$80.6K $25.20/SF

− Vacancy

−$3.6K −$1.13/SF

EGI

$77.0K $24.07/SF

− OpEx

−$23.1K −$7.22/SF

NOI

$53.9K $16.85/SF

Area

Essex County, MA

Vacancy

4.50%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,078,160

Cap Rate 7%

$770,114

Cap Rate 9%

$598,978

Alternative Uses

Best Use

Multifamily LT 5

$770.1K

$673.9K – $898.5K (±1% cap)

NOI $53,908 @ 7.0% cap · market cap 7.30%

Second Best

Apartment 5plus

$695.1K

$608.3K – $811.0K (±1% cap)

NOI $48,660 @ 7.0% cap · market cap 6.59%

Theoretical Best

Office A

$1.89M

$1.66M – $2.21M (±1% cap)

NOI $132,607 @ 7.0% cap · market cap 17.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Law Firm Plumbing Service Parking Lot & Garage Grocery & Convenience Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

200

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 Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Each residence has two bedrooms, separate utilities, and its own driveway.

Where is this duplex located?

The property is located at 25-27 S Pleasant St Merrimac, MA.

What is the asking price?

The asking price for this property is $738,000.

What are key features of this property?

This property features: Two units, each with 2 bedrooms; 3,200 square feet; Nearly 2 acres