For Sale
$2,700,000

191 Elm StSalisbury, MA 01952

13,700 SF Office Building, 6.36% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
118
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.

Highlights

  • 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.
  • 20 dedicated parking spaces plus additional parking available.
  • Excellent location near Routes 95 & 495, the NH border, beaches, and Newburyport; surrounded by businesses and a fitness center.

Property Details for 191 Elm St

Property type
Office properties, Medical offices
Square Feet
13,700 SF
Class
A

Location Insight

City
Salisbury
County
Essex
State
Massachusetts
Latitude
42.8436918
Longitude
-70.8933557
191 Elm St, Salisbury, Massachusetts

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191 Elm St
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