Residential Condo for Studio
New
For Sale
$250,000
219 Central Street, Lowell, MA 01852
Commercial Sale, Lowell, MA
Property Size604 SF
Price / SF$413.91
Days on Market2
Property Features for 219 Central Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DMU
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
.9mi off Exit 4B off Lowell Connector, Rt on Middlesex St, Left on Marston St, Rt on Jackson St.
Subdivision
Downtown
Standard status
Active
APN
3190023
Size
604 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2344
Building Details
Year built
1985
Listing Agency:
Keller Williams Realty-Merrimack
(978) 692-3280
Listed By:
Claire Ryan
(978) 996-8287
Added: Sep 24
Last Checked: Sep 25 at 3:06AM
MLS# 73582232
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 604-square-foot residential condominium was built in 1985 and includes one bathroom. The unit is presented as a possible setting for an artist studio or professional office, while remaining a residential condo rather than commercial space. Its zoning designation is DMU.
Key Highlights
- 604‑square‑foot residential condominium
- Built in 1985
- DMU zoning
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
$10,954
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
4.38%
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%
$219,080
$219.1K
Cap Rate 7%
$156,486
$156.5K
Cap Rate 9%
$121,711
$121.7K
Market Conditions
NOI Build-Up for 604 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
$18.8K $31.20/SF
− Vacancy
−$4.2K −$7.02/SF
EGI
$14.6K $24.18/SF
− OpEx
−$3.7K −$6.05/SF
NOI
$11.0K $18.13/SF
Area
Lowell, MA
Vacancy
22.50%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
25.00%
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%
$219,080
Cap Rate 7%
$156,486
Cap Rate 9%
$121,711
Alternative Uses
Best Use
Office B
$156.5K
$136.9K – $182.6K
NOI $10,954 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$153.9K
$134.7K – $179.6K
NOI $10,774 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$212.6K
$186.0K – $248.0K
NOI $14,881 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,417
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - DMU zoning and a compact interior give the unit a distinct residential configuration.
Where is this residential income property located?
The property is located at 219 Central Street Lowell, MA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 604‑square‑foot residential condominium; Built in 1985; DMU zoning
