357 Merrimack St Methuen, MA 01844-6531
This exceptional 1.4-acre commercial land parcel, located at 357-361 Merrimack Street in Methuen, Massachusetts, presents a compelling investment opportunity. The property, identified by APN METH-001109-000110-A000059, consists of two adjacent lots ideally situated on Route 110, ensuring high visibility and accessibility. Its Neighborhood Business (BN) zoning allows for a diverse range of commercial uses, making it suitable for various business ventures. The location offers easy access to downtown Methuen and major highways, maximizing convenience for both businesses and customers. High traffic counts on Route 110 guarantee significant exposure for any development on this site. The asking price for this prime commercial land is $925,000. This property's strategic location and flexible zoning make it an attractive prospect for developers and investors seeking a high-impact commercial investment in a thriving Massachusetts market. The substantial lot size provides ample space for a variety of development possibilities, capitalizing on the high traffic volume and excellent visibility afforded by its Route 110 location in Essex County, with a Methuen, MA 01844 zip code. This is a rare opportunity to acquire a well-positioned commercial property with significant growth potential.
BN Neighborhood Business District. The Neighborhood Business District is composed of all those areas so designated on the official zoning map. Predominant uses include small retail and service establishments serving the needs of adjacent neighborhoods and oriented to pedestrian traffic. Uses, which would detract from this small-scale business character, or o…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
BN · Methuen, MABN Neighborhood Business District. The Neighborhood Business District is composed of all those areas so designated on the official zoning map. Predominant uses include small retail and service establishments serving the needs of adjacent neighborhoods and oriented to pedestrian traffic. Uses, which would detract from this small-scale business character, or otherwise interfere with the intent of the ordinance, are prohibited. CBD Central Business District. The Central Business District is composed of all those areas so designated on the official zoning map. It includes retail, service, office and residential uses. It is the intent of this ordinance that the CBD be a place of diversity and a mixture of uses, provided public health and safety are protected. BH Highway Business District. The Highway Business District is composed of all those areas so designated on the official zoning map. Uses include retail, wholesale, office and service uses. BL Limited Business Districts. The Limited Business District is composed of all those areas so designated on the official zoning map. It is established primarily to accommodate uses such as offices, smaller scale retail and general business, research and development laboratories, and light assembly. Attached Dwellings, Multi-Family Developments and Planned Unit Developments (PUD’s) are also allowed by a special permit. IL Limited Industrial District. The Limited Industrial District is composed of all those areas designated on the official zoning map. It is intended to accommodate light industrial uses. Residential uses are prohibited, and retail uses are permitted by special permit only. H Hospital District. The intent and purpose of the Hospital District is to allow, by right or by Special Permit, those uses that would serve a hospital. MFOD Multi-family Overlay District. The Multi-family Overlay District (MFOD) is an overlay district which allows multi-family housing as of right in accordance with section 3A o the Zoning Act (Massachusetts General Laws Chapter 40A) and Section V-X of this Zoning Ordinance.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
