540 Merrimack Street, Lowell, MA 01854

Property Description

Corner lot on Merrimack Street and Hanover Street with mixed use building prime for re-development in the MBTA overlay district. Sale includes three parcels: 540 Merrimack Street - an existing mixed use building with 2 commercial units and 6 residential apartments on 0.03 acres; 520 Merrimack Street - a 0.31 acre adjacent vacant lot currently leased out for parking; and 11 Hanover Street - a 0.03 acre lot providing a second entrance to the parking lot/access around the existing building. The El Kareh building at 540 Merrimack Street consists of commercial space on the ground floor: a large street retail unit formerly a high end hair salon, a second street retail unit with separate entrance on Hanover Street formerly used as a dress shop. Upper floors include up to six apartments. At one point the 2nd floor was used as a dentist office. Utilities are on. Adjacent lot offers adequate parking for both businesses and residences. Parking lot is currently leased to adjacent market m2m.