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

    384 Lowell Street #205 & 205B Wakefield, MA 01880

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $199,900

    Rare Wakefield office condo near I-95/Rt128 and I-93.

    Type:Commercial
    Added:
    Apr 25, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 25 at 6:18 am

    Property Features for 384 Lowell Street #205 & 205B

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    Nikki Martin Team

    Listing agent Nikki Martin Team

    Listing office Compass

    Listing date Apr 25, 2026

    Source Liongatere

    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 Compass

    Overview

    Wakefield Office Condo For Sale

    This Wakefield office condominium offers an opportunity for ownership instead of renting. The property, created by combining two units, is located approximately one minute from I-95/Rt128 and ten minutes from I-93. The space is suitable for a variety of businesses and features two reception areas, four private offices, and a conference room with space for file cabinets. It also includes a kitchen, access to two restrooms, and a walk-up attic for storage. Parking is available. The property provides convenient access to downtown Wakefield and Lake Quannapowitt. The monthly association fee covers water/sewer, master insurance, landscaping, snow removal, refuse removal, extra storage, and housekeeping of common areas. Updates within the last five years include the parking lot, LED lights, bathrooms, and windows.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Wakefield
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0656
    Latitude
    42.5039

    Nearby Similar for Sale

    • $849,000
      1,942 SF

      Two-Family Home in Wakefield, MA

      Two-family home near transportation, shopping, and Lake Quannapowitt.
      293 Albion St, Wakefield, MA 01880
      View Details
    • $1,695,000
      2,700 SF

      Renovated Office Building in Wakefield

      Turn-key office building with recent renovations and expansion.
      45 Albion St, Wakefield, MA 01880
      View Details
    • $989,000

      Two-Family Home Near Lake Quannapowitt

      Two-family home near Lake Quannapowitt with expansion potential.
      57 Wave Ave, Wakefield, MA 01880
      View Details
    • $1,000,000

      Wakefield Four-Family Home

      Well-maintained four-family home in convenient Wakefield location.
      43-45 Crescent St, Wakefield, MA 01880
      View Details
    • $199,900

      Wakefield Office Condo For Sale

      Rare office condo in pristine condition, ideal Wakefield location.
      384 Lowell St 205 & 205B, Wakefield, MA 01880
      View Details
    • $989,000
      2,433 SF

      Two-Family Home Near Lake Quannapowitt

      Two-unit property with yard, near Lake Quannapowitt.
      57 Wave Avenue, Wakefield, MA 01880
      View Details
    • Contact for pricing
      18,500 SF

      Wakefield Mixed-Use Value-Add Opportunity

      Mixed-use property in Wakefield center with value-add potential.
      401-411 Main Street, Wakefield , MA 01880
      View Details
    • $849,000
      1,942 SF

      Two-Family Home in Wakefield

      Value-add two-family home in Wakefield's desirable West Side.
      293 Albion St, Wakefield, MA 01880
      View Details
    • $199,900

      Wakefield Office Condo For Sale

      Rare office condo in pristine condition near major routes.
      384 Lowell Street, Unit 205 & 205B, Wakefield, MA 01880
      View Details
    • Contact for pricing

      Prime Location Development Opportunity

      High-profile site suitable for various commercial uses.
      Wakefield, MA 01880
      View Details
    • Contact for pricing

      Wakefield Redevelopment Opportunity

      Property being redeveloped into approximately 90 assisted living units.
      338 Main Street, Wakefield, MA 01880
      View Details

    FAQs

    What type of property is this?
    Office units - Rare Wakefield office condo near I-95/Rt128 and I-93.
    Where is this office units located?
    The property is located at 384 Lowell Street #205 & 205B Wakefield, MA.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: Ideal Wakefield location: just 1 minute from I95/Rt128, and 10 minutes to I93.; Pristine condition, with updates within the last 5 years including the parking lot, LED lights, bathrooms, and windows.; Combined unit featuring two reception areas, four private offices, and a conference room.
    (781) 710-1440
    We can help!
    Listing Contact
    Nikki Martin Team
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!