Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    408 Suffolk St Lowell, MA 01854

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $12 SF/Yr

    Retail, service, and office spaces available for rent.

    Lot size:
    0.32 Acres

    Property Features for 408 Suffolk St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.32 Acres

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    Fred D. Faust
    Source: Elliman

    Listing Agent: Fred D. Faust

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

    Learn more

    Overview

    New Retail Space in Lowell

    Suffolk Place offers new retail, service, and office spaces for commercial renters, situated on Market Street and Suffolk Streets in Lowell. Completion is scheduled for June 2026. Visible first-floor spaces range from 1,331 to 6,291 square feet. The spaces will be finished with street access, storefronts, mechanical systems, and bathrooms. Additional fit-out will be at the tenant's expense. Suffolk Place complements the completed Acre Crossing Merrimack Street retail, office, and condominiums. Located between downtown Lowell and UMASS Lowell’s Union Crossing, Suffolk Place is suitable for various businesses. A unique feature allows tenants to purchase their commercial space as a condominium after two years or longer of tenancy. Plans and preview showings are available, with floor plans showing three space options.
    Location Intelligence

    Current Use by Public Records

    Prathna Convenience Grocery & Convenience Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3178876
    Latitude
    42.6471877

    Nearby Similar for Lease

    • $2,000 /Mo
      5,227 SF

      Downtown Lowell Retail Space Available

      600 SF retail space in a high-traffic downtown location.
      183 Appleton St, Lowell, MA 01852
      View Details
    • Contact for pricing

      Equipped Retail Space Near UMASS

      Equipped retail space near UMASS Lowell, ready for take-out.
      61 Mammoth Rd, Lowell, MA 01854
      View Details
    • $22 SF/Yr

      Retail Space in High-Traffic Plaza

      Retail space in a vibrant, high-traffic location near Route 3.
      1270 Westford St, Lowell, MA 01851
      View Details
    • $950 /Mo

      Second Floor Corner Office Unit

      Second floor office unit available for rent in Methuen.
      12 Baldwin St, Lowell, MA 01851
      View Details
    • $1,000 /Mo
      1,200 SF

      Retail Space on Mammoth Road

      Retail space for lease on heavily traveled Mammoth Road.
      49-51 Mammoth Rd, Lowell, MA 01854
      View Details
    • Contact for pricing

      Downtown Lowell Equipped Bar Space

      Equipped bar space for lease in downtown Lowell.
      15-2 Kearney Sq, Lowell, MA 01852
      View Details
    • Contact for pricing
      658 SF

      Automotive Repair Garage For Lease

      Freestanding automotive repair garage available for lease in Lowell, MA.
      397 School St, Lowell, MA 01851
      View Details
    • Contact for pricing

      Retail Space Available on Route 3A

      Retail spaces available with high traffic and signalized access.
      199- Plain St, Lowell, MA 01852
      View Details
    • Contact for pricing
      1,087 SF

      Renovated Retail/Office Suite in Lowell

      Newly renovated retail/office suite available for lease in Downtown Lowell.
      134-142 Middlesex St, Lowell, MA 01852
      View Details
    • Contact for pricing
      2,600 SF

      Retail Space on Route 3A

      Retail spaces available with high traffic and signalized access.
      199 Plain St, Lowell, MA 01852
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Central Plaza

      Retail space available in a busy central business district.
      55-131 Church St, Lowell, MA 01852
      View Details
    • $12 SF/Yr

      Downtown Lowell Office/Retail Suite

      Spacious 3,000 sq. ft. office/retail suite in downtown Lowell.
      50 Central St, Lowell, MA 01852
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail, service, and office spaces available for rent.
    Where is this retail space located?
    The property is located at 408 Suffolk St Lowell, MA.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Prime location between downtown Lowell and UMASS Lowell's Union Crossing.; - Option to purchase the commercial space as a condominium after two years of tenancy.; - New construction with completion scheduled for June 2026.
    (978) 397-8086
    Request Owner's contact information
    408 Suffolk St Lowell, MA 01854
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    408 Suffolk St
    Lowell, MA 01854
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    408 Suffolk St Lowell, MA 01854
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Fred D. Faust
    Real Estate License ID: 456011216
    (978) 397-8086 (978) 458-8822
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!