Mixed-Use Building Near UMASS
169-171 Salem Street Lowell, MA 01854
169-171 Salem Street, Lowell, MA, 01854
$1,300,000
For Sale
$1,300,000
Five-unit mixed-use building with retail space and residential units.
Property Size7,178 SF
Price / SF$181.11
Days on Market416
Property Features for 169-171 Salem Street
General Information
- Standard status
- Active
- Size
- 7,178 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency
RE/MAX Innovative Properties
Listed by
Raymond Boutin
Source
Stevebremis
Added: May 28, 2025 Checked: Jul 16 at 1:41 pm
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 RE/MAX Innovative Properties
Investment Insights
Based on property information with market context.
This five-unit mixed-use building is located near UMASS Lowell and within walking distance of various amenities. The property has been well-maintained and updated, offering ample off-street parking. The first floor features a retail space equipped with a kitchen area, including two walk-in coolers, one walk-in freezer, and pizza ovens. Above the commercial space are two updated three-bedroom apartments. Additionally, there are two adjacent one-bedroom residential units. Unit 4 includes access to the basement and laundry hookups, while Unit 5 features a walk-up attic with two semi-finished rooms. All units have separate utilities and washer/dryer hookups. The sale includes the business and equipment. The property size is 7178 square feet.
Key Highlights
- Mixed‑use building featuring retail space with kitchen, coolers, freezer, and pizza ovens, plus residential units.
- Includes existing business (Cote's Market) name, equipment, and inventory.
- Two updated 3‑bedroom apartments.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $206.7k | $28.80 |
| − Vacancy | −$16.5k | −$2.30 |
| EGI | $190.2k | $26.50 |
| − OpEx | −$71.3k | −$9.94 |
| NOI | $118.9k | $16.56 |
7,178 SF · lease $28.80/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$2.02M
$1.76M – $2.35M
NOI $141,155 @ 7.0% cap · market cap 10.86%
Second Best
Apartment 5plus
$1.83M
$1.60M – $2.13M
NOI $128,045 @ 7.0% cap · market cap 9.85%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $176,848 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Five-unit mixed-use building with retail space and residential units.
Where is this mixed-use property located?
The property is located at 169-171 Salem Street Lowell, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Mixed‑use building featuring retail space with kitchen, coolers, freezer, and pizza ovens, plus residential units.; Includes existing business (Cote's Market) name, equipment, and inventory.; Two updated 3‑bedroom apartments.
