Conventional Restaurant Space with
For Sale
Contact for pricing
311 Merrimack St, Lawrence, MA 01841
Former food-service space near Route 495 with I2 zoning and tenant-controlled fit-up.
Property Size2,100 SF
Price / SF$1.90
Days on Market237
Property Features for 311 Merrimack St
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial
Zoning
I2
Taxes and HOA fees
Annual Taxes
$28,000
Building Details
Building Size
2,100 SF
Year Built
1900
Listing Agency:
Coldwell Banker Realty - Haverhill
(978) 372-8577
Listed By:
The Fisichelli Team
(978) 994-6503
Source:
Churchillprop
Added: Feb 21
Changed: Oct 6
Last Checked: Oct 16 at 7:29AM
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 Coldwell Banker Realty - Haverhill
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Investment Insights
Based on property information with market context.
Previously operated as a sub and pizza restaurant, this property offers an established commercial setting for restaurant use or other business applications. The space is positioned on a high-traffic road near Route 495 and an established concentration of businesses, providing a practical location for customer-facing operations.
The building was constructed in 1900 and carries I2 zoning. Any incoming tenant will be responsible for completing the fit-up and maintaining the equipment, allowing operational improvements to be managed according to the selected business concept.
The building was constructed in 1900 and carries I2 zoning. Any incoming tenant will be responsible for completing the fit-up and maintaining the equipment, allowing operational improvements to be managed according to the selected business concept.
Key Highlights
- Former sub and pizza restaurant space
- I2 zoning
- Located near Route 495 and surrounding businesses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,504
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,080
$690.1K
Cap Rate 7%
$492,914
$492.9K
Cap Rate 9%
$383,378
$383.4K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$50.4K $24.00/SF
− Vacancy
−$1.1K −$0.53/SF
EGI
$49.3K $23.47/SF
− OpEx
−$14.8K −$7.04/SF
NOI
$34.5K $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%
$690,080
Cap Rate 7%
$492,914
Cap Rate 9%
$383,378
Alternative Uses
Best Use
Specialty Retail
$554.5K
$485.2K – $647.0K
NOI $38,817 @ 7.0% cap · market cap 970.43%
Second Best
Retail
$492.9K
$431.3K – $575.1K
NOI $34,504 @ 7.0% cap · market cap 862.60%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,023 @ 7.0% cap · market cap 2,175.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,280
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 01841, MA
53,654
Population
17,546
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
3.0 sq mi
ZIP Area
17,885
Density / Sq Mi
$54,525
Median Household Income
$34,741
Median Earnings
$1,565
Median Rent
$393,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Former food-service space near Route 495 with I2 zoning and tenant-controlled fit-up.
Where is this conventional restaurant located?
The property is located at 311 Merrimack St Lawrence, MA.
What are key features of this property?
This property features: Former sub and pizza restaurant space; I2 zoning; Located near Route 495 and surrounding businesses
