Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    345 Merrimac St Newburyport, MA 01950-1929
    Back to Search
    Property profile & analytics

    345 Merrimac St, Newburyport, MA 01950-1929

    View on Map
    • Auto shops
    • 3,496 SF
    • 0.30 lot acres
    Off-Market
    Property ID
    US38-1155760
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Auto shops

    Property Details for 345 Merrimac St

    Year built
    1928
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.30 lot acres
    Property type
    Auto shops
    APN
    NEWP M:0068 B:0028 L:0000
    APU
    NEWPM0068B0028L0000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 9, 2012 $1 Gloria M Eldridge Phil & Sons Props LLC Grant Deed · related —
    Jul 24, 2003 $399,900 Phil & Sons Prop LLC Warwick,bruce C JR Grant Deed $417k · Newburyport Five Cent
    Aug 14, 1998 — Bruce D Warwick JR. — Deed Of Trust · related $145k · Ocean National Bank
    Jul 2, 1996 $175,000 Bruce C Warwick JR. Federal Financial Co Grant Deed $145k · Worth Funding INC
    Oct 13, 1995 $77,000 Federal Financial Co Curtis,edward Grant Deed · related —
    Jan 16, 1990 $190,000 Edward Curtis Barnside Rlty Corp Grant Deed $210k · Bank Of Ne North

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Newburyport
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.8888
    Latitude
    42.8234
    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
    $4,832
    $318,600
    $166,100
    $484,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $850,000
      5,885 SF

      72 Storey Ave

      AUTO REPAIR, GARAGE
      72 Storey Ave, Newburyport, MA 01950-3526
      View Details
    • Value Estimation
      $835,000
      3,938 SF

      92nd Merrimac St

      AUTO REPAIR, GARAGE
      92nd Merrimac St, Newburyport, MA 01950-2556
      View Details
    • Value Estimation by Request
      5,352 SF

      194-196 Rte 1st 1

      AUTO REPAIR, GARAGE
      194-196 Rte 1st 1, Newburyport, MA 01950
      View Details
    • Value Estimation
      $3,370,000
      3,591 SF

      74 Storey Ave

      CAR WASH
      74 Storey Ave, Newburyport, MA 01950-3526
      View Details
    • Value Estimation by Request
      0.36 Acres

      10 Ashland Ct

      PARKING LOT
      10 Ashland Ct, Newburyport, MA 01950
      View Details
    • Value Estimation by Request
      0.14 Acres

      140th Merrimac St

      PARKING LOT
      140th Merrimac St, Newburyport, MA 01950-2416
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Downtown Newburyport Retail Condo

      Retail condo with high visibility in downtown Newburyport.
      19-23 Pleasant St, Newburyport, MA 01950
      View Details
    • Contact for pricing

      Industrial Building with Expansion Potential

      Distribution space with warehouse, offices, and expansion rights.
      3 Stanley Tucker Dr, Newburyport, MA 01950
      View Details
    • Contact for pricing

      Updated Office Condo in Newburyport

      2,201 SF office condo with modern updates and historic charm.
      1 Harris St, Newburyport, MA 01950
      View Details
    • Contact for pricing
      2,200 SF

      Newburyport Office For Sale

      2,200 SqFt office space available in Newburyport, Massachusetts.
      1 Harris St, Newburyport, MA 01950
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Retail/Office Condo For Rent

      Retail/office condo in prime downtown location with water views.
      11 Market Sq, Newburyport, MA 01950
      View Details
    • Contact for pricing

      Retail Space with Bank Infrastructure

      Retail space available with existing bank infrastructure and high ceilings.
      45 Storey Ave, Newburyport, MA 01950
      View Details
    • Contact for pricing

      Waterfront Commercial Space in Newburyport

      2,000 SF waterfront commercial space with flexible layout potential.
      226 Merrimac St, Newburyport, MA 01950
      View Details
    • Contact for pricing

      Waterfront Commercial Space in Newburyport

      2,000 SF waterfront commercial space with flexible layout potential.
      226 Merrimac St, Newburyport, MA 01950
      View Details
    • Contact for pricing

      Downtown Retail/Office Condo For Rent

      Retail/office condo in prime downtown location with water views.
      11 Market Sq, Newburyport, MA 01950
      View Details
    • Contact for pricing
      3,042 SF

      Newburyport Industrial Flex Unit

      3,042 SF industrial flex unit for lease in Newburyport.
      65 Parker St, Newburyport, MA 01950
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    345 Merrimac St
    Newburyport, MA 01950-1929
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    345 Merrimac St, Newburyport, MA, 01950
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!