Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Drum Hill Title is generated by Realmo AI

    20 Drum Hill Road, Chelmsford, MA 01824

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in established shopping center near I-495.

    Type:Retail
    Property size:
    197,000 SF
    Added:
    Mar 7, 2026
    Days on Market:
    76
    Last Refresh:
    Mar 16 at 11:52 am

    Property Features for 20 Drum Hill Road

    General Information

    Standard status
    Active
    Size
    197,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 20 Drum Hill Road Contact us

    We can help!

    Listing Contact
    Seth Goldfarb

    Listing agent Seth Goldfarb License #MA

    Listing office WS Development

    Listing date Mar 7, 2026

    Source Crexi

    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 WS Development

    HighLights

    • Easily accessible from I‑495
    • Anchored by leading retailers including Walmart, The Paper Store, and Hannaford
    • 197,000 square‑foot shopping center
    • Serves southern Nashua, Lowell, Chelmsford and Billerica
    • Estimated population of 620,000
    • Estimated average annual household income of more than $145,000

    Overview

    Drum Hill Shopping Center offers retail spaces and is easily accessible from I-495. The 197,000 square-foot center includes retailers such as Walmart, The Paper Store, and Hannaford. It serves southern Nashua, Lowell, Chelmsford and Billerica. The estimated population of the area is 620,000 with an estimated average annual household income of more than $145,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Chelmsford Plaza — 101-131 Drum Hill Rd, North Chelmsford, MA 01863
    • Walmart — chel, 27-101-9, north chelmsford, ma 01863
    • Bowers Crossing — 1087-1103 Westford St, Lowell, MA 01851
    • Coinstar Kiosk - Bitcoin ATM — Hannaford Bros, 66 2 Drum Hill Rd, Chelmsford, MA 01824
    • Drum Hill Shopping Center — 90 Drum Hill Rd, Chelmsford, MA 01824

    Location Insight

    • Map
    • Local Demand
    City
    Chelmsford
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3601905
    Latitude
    42.6255808

    Nearby Similar for Lease

    • $3,000/Mo
      1,250 SF

      Bright Corner Office Suite

      Sun-filled office with flexible layout in well-maintained building.
      11 Summer St #2, Chelmsford, MA 01824
      View Details
    • $3,000/Mo
      1,250 SF

      Bright Corner Office Suite

      Sun-filled office suite with flexible layout in Chelmsford, MA.
      11 Summer St 2, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      24,080 SF

      Turn-Key Lab/Office Space Available

      24,080 SF lab/office space in Chelmsford, MA for lease.
      2 Omni Way, Chelmsford, MA 01824
      View Details
    • $450/Mo
      84 SF

      Chelmsford Office Space For Rent

      Office space available in Chelmsford, MA with utilities included.
      2 Meeting House Rd, Chelmsford, MA
      View Details
    • $1.00 SF/Yr

      Chelmsford Street Retail Space Available

      Retail space for lease in Chelmsford, Massachusetts.
      221 Chelmsford St, Chelmsford, MA 01824
      View Details
    • $700/Mo
      140 SF

      Furnished Offices in Chelmsford, MA

      Furnished offices for lease with shared conference room access.
      6 Courthouse Ln, Chelmsford, MA
      View Details
    • $1.00 SF/Yr

      Chelmsford Retail Space For Lease

      Commercial space available for lease on Chelmsford Street.
      221 Chelmsford Street, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      4,732 SF

      Chelmsford Industrial Space For Lease

      4,732 SF industrial space in Chelmsford, MA, built in 1986.
      127 Riverneck Rd Ste 1, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      520 SF

      Chelmsford Office Space for Lease

      Second-floor office suites available with utilities included in rent.
      14 Fletcher St, Chelmsford, MA
      View Details
    • Contact for pricing
      1,800 SF

      Chelmsford Commercial Space For Lease

      Commercial space available on Chelmsford Street in Chelmsford, MA.
      221 Chelmsford St, Chelmsford, MA
      View Details
    • Contact for pricing
      54,000 SF

      Flex/Light Manufacturing Space Available

      54,000 SF flex/manufacturing building with tailboard loading docks.
      7 Stuart Road, Chelmsford, MA 01824
      View Details
    • Contact for pricing
      76,259 SF

      Chelmsford Office/Manufacturing Space Available

      76,259 SF office and advanced manufacturing space for lease.
      5 Omni Way, Chelmsford, MA 01824
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in established shopping center near I-495.
    Where is this shopping center located?
    The property is located at 20 Drum Hill Road Chelmsford, MA.
    What are key features of this property?
    This property features: Easily accessible from I‑495; Anchored by leading retailers including Walmart, The Paper Store, and Hannaford; 197,000 square‑foot shopping center
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Seth Goldfarb
    Real Estate License ID: MA
    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

    Thank You for Inquiry
    20 Drum Hill Road, Chelmsford, MA 01824
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!