Fully rented (Long term tenants at will) in both the commercial and residential tenants. This mixed use property is in the busy village center of Merrimac Massachusetts. There are 3 residential apartments. Merrimac has long had a strong demand for rentals. Additionally there are 3 street level commercial spaces. Each unit is separately metered for utilities. This mixed use building is located 1 mile to Hwy 495, with access to points north and south. Parking is along street and in an adjacent lot. Merrimac (Pentucket School District) recently built a new state of the art High School. Zoned VC, the property has the fewest restrictions regarding potential usages.
7-17 School St, Merrimac, MA, 01860
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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