Retail and Warehouse Space
For Sale
Contact for pricing
Pending
98 Hall St, Lowell, MA
Retail and warehouse space with mezzanine storage and garage access.
Property Size6,191 SF
Lot Size0.17 Acres
Days on Market470
Property Features for 98 Hall St
General Information
Standard status
Pending
Size
6,191 SF
Lot size
0.17 Acres
Property subtype
RETAIL
Listing Agency:
Bell Tower Commercial Real Estate Group
(978) 251-5894
Listed By:
Vladimir Saldana · License #MASSACHUSETTS-9575388
(978) 251-5894
Source:
Moodyscre
Added: May 8, 2025
Changed: Aug 8
Last Checked: Aug 19 at 8:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bell Tower Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This property features both retail and warehouse space, offering flexibility for various business needs. The retail space benefits from excellent street visibility, enhancing its appeal to customers. The warehouse component includes additional mezzanine storage, maximizing space utilization. Garage access is available, providing convenient entry and exit points. On-site parking accommodates 4-5 vehicles at the curb. The property is located in the emerging Umass Lowell "LINC" District. The property size is 6191 square feet.
Key Highlights
- Excellent street visibility for retail
- Warehouse space included
- Located in the emerging Umass Lowell "LINC" District
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,035
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$860,700
$860.7K
Cap Rate 7%
$614,786
$614.8K
Cap Rate 9%
$478,167
$478.2K
Market Conditions
NOI Build-Up for 6,191 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$53.9K $8.70/SF
− Vacancy
−$3.2K −$0.52/SF
EGI
$50.6K $8.18/SF
− OpEx
−$7.6K −$1.23/SF
NOI
$43.0K $6.95/SF
Area
Lowell, MA
Vacancy
6.00%
Lease Rate
$8.70 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$860,700
Cap Rate 7%
$614,786
Cap Rate 9%
$478,167
Alternative Uses
Best Use
Retail
$1.46M
$1.28M – $1.70M
NOI $102,111 @ 7.0% cap · market cap 12.38%
Second Best
Warehouse
$614.8K
$537.9K – $717.3K
NOI $43,035 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$2.18M
$1.91M – $2.54M
NOI $152,530 @ 7.0% cap · market cap 18.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,676
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail and warehouse space with mezzanine storage and garage access.
Where is this retail space located?
The property is located at 98 Hall St Lowell, MA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Excellent street visibility for retail; Warehouse space included; Located in the emerging Umass Lowell "LINC" District
