Renovated First-Floor Office
For Sale
Contact for pricing
5 Pleasant Street # 110, Methuen, MA 01844
Updated office space with air conditioning and access to public transportation.
Property Size600 SF
Price / SF$1.58
Days on Market745
Property Features for 5 Pleasant Street # 110
General Information
Standard status
Active
Size
600 SF
Property subtype
Commercial
Zoning
CBD
Additional Details
Floor
First floor
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$27,355
Building Details
Year Built
1900
Listing Agency:
McKeon / Corcoran Real Estate
(978) 374-0112
Listed By:
Robin R. McKeon
(978) 273-8097
Source:
Churchillprop
Added: Oct 5, 2024
Changed: Oct 6
Last Checked: Oct 16 at 6:52AM
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 McKeon / Corcoran Real Estate
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Investment Insights
Based on property information with market context.
This first-floor office unit offers 600 square feet of recently renovated and updated workspace with air conditioning. The property is located at 5 Pleasant Street #110 in Methuen, within a building constructed in 1900 and zoned CBD.
The downtown setting provides access to public transportation. The layout may accommodate professional office and personal-service uses, including a real estate office, tax practice, massage practice, hair salon, nail salon, or barber shop, as identified for the space.
The downtown setting provides access to public transportation. The layout may accommodate professional office and personal-service uses, including a real estate office, tax practice, massage practice, hair salon, nail salon, or barber shop, as identified for the space.
Key Highlights
- 600 square feet of first‑floor office space
- Renovated and updated interior
- Air conditioning included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,724
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,480
$334.5K
Cap Rate 7%
$238,914
$238.9K
Cap Rate 9%
$185,822
$185.8K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$27.4K $45.60/SF
− Vacancy
−$5.1K −$8.44/SF
EGI
$22.3K $37.16/SF
− OpEx
−$5.6K −$9.29/SF
NOI
$16.7K $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%
$334,480
Cap Rate 7%
$238,914
Cap Rate 9%
$185,822
Alternative Uses
Best Use
Office B
$238.9K
$209.1K – $278.7K
NOI $16,724 @ 7.0% cap · market cap 1,760.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$355.2K
$310.8K – $414.4K
NOI $24,864 @ 7.0% cap · market cap 2,617.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Updated office space with air conditioning and access to public transportation.
Where is this office units located?
The property is located at 5 Pleasant Street # 110 Methuen, MA.
What are key features of this property?
This property features: 600 square feet of first‑floor office space; Renovated and updated interior; Air conditioning included
