191 Elm St Salisbury, MA 01952
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13,700 SF Office Building, 6.36% Cap Rate
Property size:
13,700 SFProperty Features for 191 Elm St
General Information
- Property type
- Medical offices
- Square Feet
- 13,700 SF
- Class
- A
Listing Agency: The North Shore Realty Group Listing Agent: Frank Bertolino
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This Class A, multi-tenant office building at 191 A Elm Street in Salisbury, Massachusetts, presents a compelling investment opportunity. The 13,700 square foot property boasts a 6.36% capitalization rate and currently enjoys 73% occupancy with nine professional tenants, generating a net operating income (NOI) of $171,800. The building features 20 dedicated parking spaces, supplemented by additional parking options, and benefits from a convenient location near major roadways (Routes 95 and 495), the New Hampshire border, beaches, and the historic city of Newburyport. The property is zoned C and offers a mix of creative, medical, and traditional office spaces, all under a gross lease structure with yearly rent bumps. The building's current occupancy is projected to reach full capacity by January 1, 2024. The 4,087 square feet of net rentable space provides significant upside potential for future growth. This stabilized investment is an excellent opportunity for investors seeking a strong return in a desirable location with high traffic and surrounded by numerous businesses and a fitness center. The property is currently listed at $2,700,000.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Medical offices
Location Insight
- Map
- Local Demand
- City
- Salisbury
- County
- Essex
- State
- Massachusetts
- Longitude
- -70.8933557
- Latitude
- 42.8436918
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FAQs
What type of property is this?
Medical office - 13,700 SF Office Building, 6.36% Cap Rate
Where is this medical office located?
The property is located at 191 Elm St Salisbury, MA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Class A, multi-tenant office building totaling 13,700 square feet, located at 191 A Elm Street, Salisbury, MA.; 6.36% capitalization rate with a $171,800 net operating income (NOI).; 73% occupancy with nine professional tenants; projected full occupancy by January 1, 2024.