Historic Mixed-Use Commercial
77 Merriam Ave Leominster, MA 01453
77 Merriam Ave, Leominster, MA, 01453
$699,999
For Sale
$699,999
Well-maintained historic building with a flexible layout and substantial space, located moments from downtown.
Property Size4,144 SF
Price / SF$168.92
Days on Market20
Property Features for 77 Merriam Ave
General Information
- Standard status
- Active
- Size
- 4,144 SF
Building Details
- Year Built
- 1920
Listing agency
Coldwell Banker Realty - Leominster
(617) 823-8246
Listed by
Carey Carmisciano · License #456014264
Source
Dohertyproperties
Added: Jul 3 Updated: Jul 22 at 1:46PM Checked: Jul 22 at 1:46PM
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 - Leominster
Investment Insights
Based on property information with market context.
Historic commercial/mixed-use building at 77 Merriam Ave, Leominster, MA. The property offers approximately 4,144 square feet of versatile indoor space with a flexible layout designed to support a range of commercial uses. The building is described as well maintained and full of architectural character.
The property is positioned just moments from downtown, providing convenient proximity for retail, office, and service-oriented tenants and owner-occupants. The available configuration can accommodate a variety of business and investment concepts, including retail, office space, boutique shops, professional services, and mixed-use development.
This offering is intended for buyers seeking an owner-occupant space or an investment with adaptable space and historic appeal, with the property presented as ready for its next chapter.
The property is positioned just moments from downtown, providing convenient proximity for retail, office, and service-oriented tenants and owner-occupants. The available configuration can accommodate a variety of business and investment concepts, including retail, office space, boutique shops, professional services, and mixed-use development.
This offering is intended for buyers seeking an owner-occupant space or an investment with adaptable space and historic appeal, with the property presented as ready for its next chapter.
Key Highlights
- Built in 1920 historic commercial/mixed‑use building
- Over 4,000 sq ft of versatile, flexible space
- Well‑maintained building with character and architectural charm
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.5k | $21.60 |
| − Vacancy | −$2.0k | −$0.48 |
| EGI | $87.5k | $21.12 |
| − OpEx | −$26.3k | −$6.34 |
| NOI | $61.3k | $14.79 |
4,144 SF · lease $21.60/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.08M
$944.1K – $1.26M
NOI $75,524 @ 7.0% cap · market cap 10.79%
Second Best
Retail
$875.4K
$766.0K – $1.02M
NOI $61,279 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,058 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Law Office Of Andrew ...
Law Firm
Gregory J Angelini ...
Law Firm
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FAQs
What type of property is this?
Office units - Well-maintained historic building with a flexible layout and substantial space, located moments from downtown.
Where is this office units located?
The property is located at 77 Merriam Ave Leominster, MA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Built in 1920 historic commercial/mixed‑use building; Over 4,000 sq ft of versatile, flexible space; Well‑maintained building with character and architectural charm
