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    1703 Middlesex St Lowell, MA 01851

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    For Sale
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    100% leased multi-purpose property with recent updates and income potential.

    Building Details

    Year built
    1983

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    Listing Contact
    Taylor Saulnier, Ccim
    Source: Masscommercialproperties

    Listing Agent: Taylor Saulnier, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Overview

    Multi-Tenant Suburban Property For Sale

    This 40,359 square foot multi-tenant suburban property is available for sale and is currently 100% leased. The property features an 18' clear height, 39' column spacing, new LED lighting, a replaced roof, updated HVAC systems, and 4 loading docks. The Year 1 Net Operating Income (NOI) is $303,535, with some leases featuring annual increases as high as 8%. Located 1.47 miles from the Drum Hill Rotary at Route 3, the property is 8 miles south of the New Hampshire border and 32 miles north of Boston. The property also benefits from parking lot lease income. Situated in Lowell, Massachusetts, along the Merrimack River, the city is approximately 25 miles northwest of Boston. Lowell has an estimated population of 111,000, making it the fourth-largest city in Massachusetts and the second-largest in the Boston metropolitan area. The City of Lowell has been undergoing substantial improvements, such as 15 acres of new development, $30 million spent on continuous transportation improvements, and the $200 million construction project to build a new justice center. Lowell is also home to UMass Lowell, a Division 1 University, which has spent over $600 million in the last 10 years on infrastructure improvements. The roof was replaced in 2018.
    Location Intelligence

    Current Use by Public Records

    Just Basketball Gym & Fitness Center Merrimack Valley Food ... Food Bank Mill City Volleyball ... Association / Organization Velocity Sports Performance Gym & Fitness Center Game Time Sports ... Arcade & Gaming Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Bowers Crossing

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3512977
    Latitude
    42.6371246

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    FAQs

    What type of property is this?
    Shopping center - 100% leased multi-purpose property with recent updates and income potential.
    Where is this shopping center located?
    The property is located at 1703 Middlesex St Lowell, MA.
    What are key features of this property?
    This property features: - 100% leased, multi-tenant property providing immediate income.; - Year 1 NOI is $303,535 with potential for increased returns due to annual lease increases (up to 8%).; - Recently updated with new LED lighting, roof, and HVAC systems.
    (617) 510-7035
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    1703 Middlesex St Lowell, MA 01851
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1703 Middlesex St Lowell, MA 01851
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    Listing Contact
    Taylor Saulnier, Ccim
    (617) 510-7035
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