Renovated Mixed-Use
For Sale
$999,950
18 Appleton, Lowell, MA 01852
Four-story building combining ground-floor retail with updated residential units and UMU zoning.
Property Size5,066 SF
Price / SF$197.38
Days on Market132
Property Features for 18 Appleton
General Information
Standard status
Active
Size
5,066 SF
Property subtype
Multi-Family
Zoning
UMU
Net Operating Income
$76,800
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,697
Building Details
Building Size
5,066 SF
Year Built
1940
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Coelho Realty Group LLC
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 29 at 6:53PM
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 Coelho Realty Group LLC
Investment Insights
Based on property information with market context.
This four-story mixed-use property contains 5,066 square feet and was built in 1940. Renovation work completed within the last five years included a new rubber roof along with plumbing, electrical, and heating-system upgrades. The building includes a first-floor retail space, while the residential units feature FHA and central AC, new hardwood flooring, fresh paint, and updated kitchens with white cabinetry and stainless steel appliances. Open living and dining areas provide natural light, and basement laundry hookups add functional support space.
Located at 18 Appleton in Downtown Lowell, the property offers access to the Lowell Connector and MBTA Commuter Rail. Municipal parking garages, dining, theater, parks, and schools are nearby. The property is zoned UMU and combines commercial and residential components within a single building.
Located at 18 Appleton in Downtown Lowell, the property offers access to the Lowell Connector and MBTA Commuter Rail. Municipal parking garages, dining, theater, parks, and schools are nearby. The property is zoned UMU and combines commercial and residential components within a single building.
Key Highlights
- 5,066 SF, four‑story mixed‑use property built in 1940
- Renovated within the last five years
- New rubber roof, plumbing, electrical, and heating systems
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$90,370
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,807,400
$1.8M
Cap Rate 7%
$1,291,000
$1.3M
Cap Rate 9%
$1,004,111
$1.0M
Market Conditions
NOI Build-Up for 5,066 SF
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.
Gross rent
$176.3K $34.80/SF
− Vacancy
−$12.0K −$2.37/SF
EGI
$164.3K $32.43/SF
− OpEx
−$73.9K −$14.60/SF
NOI
$90.4K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,807,400
Cap Rate 7%
$1,291,000
Cap Rate 9%
$1,004,111
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,370 @ 7.0% cap · market cap 9.04%
Second Best
Mixed Use
$1.20M
$1.05M – $1.40M
NOI $83,893 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,813 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,293
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story building combining ground-floor retail with updated residential units and UMU zoning.
Where is this mixed-use property located?
The property is located at 18 Appleton Lowell, MA.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: 5,066 SF, four‑story mixed‑use property built in 1940; Renovated within the last five years; New rubber roof, plumbing, electrical, and heating systems
