Building Details

Year built 1900

Listing Agency: RE/MAX Innovative Properties · RE/MAX International Show Phone

Listed By: Joshua Naughton Show Phone

Added: Oct 22 Last Checked: Oct 23 at 3:06AM

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MLS# 73594167

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Investment Insights

Based on property information with market context.

The four-story mixed-use property contains retail space on the first floor. The building totals 9,500 square feet on a 0.2181-acre parcel and was built in 1900. It is zoned DMU.

The second, third, and fourth floors have been identified as potential residential space, with a preliminary concept of approximately 20 condominiums. No conversion or condominium approvals are represented as being in place; any residential plan remains subject to zoning, permitting, and other required approvals.

Key Highlights

• 9,500‑square‑foot, four‑story mixed‑use property
• First‑floor retail space
• Upper three floors identified for possible conversion to approximately 20 residential condominiums, subject to approvals

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$157,320

Cap Rate

6.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,146,400 $3.1M

Cap Rate 7%

$2,247,429 $2.2M

Cap Rate 9%

$1,748,000 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,500 SF

Gross rent

$273.6K $28.80/SF

− Vacancy

−$21.9K −$2.30/SF

EGI

$251.7K $26.50/SF

− OpEx

−$94.4K −$9.94/SF

NOI

$157.3K $16.56/SF

Area

Lowell, MA

Vacancy

8.00%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,146,400

Cap Rate 7%

$2,247,429

Cap Rate 9%

$1,748,000

Alternative Uses

Best Use

Mixed Use

$2.25M

$1.97M – $2.62M (±1% cap)

NOI $157,320 @ 7.0% cap · market cap 6.29%

Second Best

Retail

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,687 @ 7.0% cap · market cap 6.27%

Theoretical Best

Office A

$3.34M

$2.93M – $3.90M (±1% cap)

NOI $234,056 @ 7.0% cap · market cap 9.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

GDW-African Market Grocery & Convenience Store

Suggested Use

Top Pick Skin Care Clinic Acupuncture Real Estate Agency (Bike/Boat/Book/etc) Store Storage Facility Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,571

Businesses Nearby

4k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

Domino's Pizza Dining

4,258 visits/mo 0.4 miles

Demographics for 01852, MA

36,708

Population

15,363

Households

2.4

Avg Household Size

37

Median Age

33%

College-Educated

86%

High-School Grad

5.0 sq mi

ZIP Area

7,342

Density / Sq Mi

$77,058

Median Household Income

$48,976

Median Earnings

$1,567

Median Rent

$397,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Ground-floor retail occupies a four-story property with upper levels identified for possible residential conversion, subject to approvals.

Where is this mixed-use property located?

The property is located at 134 Merrimack St Lowell, MA.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: 9,500‑square‑foot, four‑story mixed‑use property; First‑floor retail space; Upper three floors identified for possible conversion to approximately 20 residential condominiums, subject to approvals