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    551 River St Haverhill, MA 01832

    • Automotive properties
    • 14,715 SF
    • 0.66 lot acres
    For Sale
    View listing
    $1,289,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0427548
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • East Coast Auot Detailing / Car Wash
    • Bob Baker's Auto Sales / Used Car Dealer
    • East coast professional auto detailing / Car Detailing Service

    Property Details for 551 River St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.66 lot acres
    Property size
    14,715 SF
    Zone code
    TY
    Property type
    Automotive properties
    APN
    HAVE M:0508 B:00255 L:2
    APU
    HAVEM0508B00255L2

    Description

    This exceptional Haverhill, MA property at 551 River Street presents a unique investment opportunity. Spanning nearly 29,000 square feet on a 0.66-acre lot, the property currently operates as a well-established used car lot with over 15,000 square feet of flexible leasable space. The existing car sales business has been in operation for many years and the license is negotiable with the sale. The property's versatility allows for a multitude of uses, including industrial, retail, or office space. Ample surface parking is available, catering to both business operations and customer needs. The property's location on River Street ensures high visibility and accessibility, making it ideal for a variety of commercial ventures. Consider the potential for establishing your own business while simultaneously generating income through commercial leasing. The substantial size and adaptable nature of this property offer a rare chance to create a thriving commercial enterprise. The existing infrastructure provides a solid foundation for immediate occupancy and operation, minimizing initial setup costs. This is a prime opportunity for an investor seeking a high-return property with significant upside potential. Contact us today to learn more about this remarkable commercial property and explore the possibilities it offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $450,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $723,000
      Market price range: $686k - $2.35M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Haverhill
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.1024
    Latitude
    42.7654
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $13,661
    $294,600
    $411,400
    $706,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $385,000
      10,060 SF

      455 Riv St

      VEHICLE SALES, RENTALS • 10,060 SF
      455 Riv St, Haverhill, MA 01832-5146
      View Details
    • Value Estimation
      $305,000
      391 SF

      162 Riv St

      VEHICLE SALES, RENTALS • 391 SF
      162 Riv St, Haverhill, MA 01832-5303
      View Details
    • Value Estimation
      $645,000
      17,300 SF

      112 Bank Rd

      VEHICLE SALES, RENTALS • 17,300 SF
      112 Bank Rd, Haverhill, MA 01832-3603
      View Details
    • Value Estimation
      $595,000
      1,872 SF

      1422 Broadway

      VEHICLE SALES, RENTALS • 1,872 SF
      1422 Broadway, Haverhill, MA 01832
      View Details
    • Value Estimation
      $310,000
      1,634 SF

      534 Riv St

      VEHICLE SALES, RENTALS • 1,634 SF
      534 Riv St, Haverhill, MA 01832-5117
      View Details
    • Value Estimation
      $790,000
      20,814 SF

      116 Bank Rd

      VEHICLE SALES, RENTALS • 20,814 SF
      116 Bank Rd, Haverhill, MA 01832-3603
      View Details

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      Mixed-Use Property in Haverhill, MA

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    Similar Nearby for Lease

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      Haverhill Industrial Space Available

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      200,000 SF

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      Versatile Office, Storage, Industrial Space

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      View Details
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    Haverhill, MA 01832
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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