Apartment Building with Storage
For Sale
$3,199,000
Pending
1311 Middlesex St, Lowell, MA 01851
12-unit apartment building with 8 storage bays for sale.
Property Size9,582 SF
Lot Size0.42 Acres
Days on Market311
Property Features for 1311 Middlesex St
General Information
Standard status
Pending
Size
9,582 SF
Lot size
0.42 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$99
Building Details
Building Size
9,582 SF
Year Built
1900
Stories
2
Units
12
Listing Agency:
Boston Realty Advisors
Listed By:
Christopher Hatem · License #9587053
(781) 690-4037
Source:
Elliman
Added: Nov 28, 2025
Changed: Oct 2
Last Checked: Oct 4 at 10:06AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This property features a 100% occupied asset consisting of 12 apartment units and 8 large garage/storage bays. It offers value-add potential through cosmetic and base-building improvements, as well as future rent growth. The property is located close to area amenities and transit options.
Key Highlights
- 100% occupied asset
- Value‑add potential through cosmetic improvements
- Value‑add potential through base‑building improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$170,928
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,418,560
$3.4M
Cap Rate 7%
$2,441,829
$2.4M
Cap Rate 9%
$1,899,200
$1.9M
Market Conditions
NOI Build-Up for 9,582 SF
Gross rent
$333.5K $34.80/SF
− Vacancy
−$22.7K −$2.37/SF
EGI
$310.8K $32.43/SF
− OpEx
−$139.9K −$14.60/SF
NOI
$170.9K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,418,560
Cap Rate 7%
$2,441,829
Cap Rate 9%
$1,899,200
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.14M – $2.85M
NOI $170,928 @ 7.0% cap · market cap 5.34%
Second Best
Self Storage
$1.41M
$1.24M – $1.65M
NOI $98,880 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $236,076 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - 12-unit apartment building with 8 storage bays for sale.
Where is this apartment building located?
The property is located at 1311 Middlesex St Lowell, MA.
What is the asking price?
The asking price for this property is $3,199,000.
What are key features of this property?
This property features: 100% occupied asset; Value‑add potential through cosmetic improvements; Value‑add potential through base‑building improvements
