Remodeled Mixed-Use
For Sale
$699,900
230 Cumberland Road, Lowell, MA 01850
Residential Income, Lowell, MA
Property Size3,880 SF
Lot Size0.11 Acres
Price / SF$180.39
Days on Market48
Property Features for 230 Cumberland Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
TTF
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 1
Parking
8
Directions
Lakeview Ave to Aiken to Cumberland Road
Subdivision
Centralville
Standard status
Active
APN
M:154 B:1595 L:230,3186765
Size
3,880 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6906
Amenities
off-street parking
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Listing Agency:
Keller Williams Realty-Merrimack
(978) 692-3280
Listed By:
Claire Ryan
(978) 692-3280
Added: Jul 14
Changed: Aug 26
Last Checked: Aug 30 at 11:06AM
MLS# 73549697
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 mixed-use property contains 3,880 square feet within a building constructed in 1940. The residential component includes two apartments: a studio and a one-bedroom unit. A remodeled commercial area occupies the first floor, creating a distinct arrangement of residential and business space within the same property. The site also includes off-street parking for occupants and commercial users.
Located at 230 Cumberland Road in Lowell, Massachusetts, the property sits on a 0.11-acre lot and carries TTF zoning. Its combination of apartment units, first-floor commercial space, and parking provides a varied physical configuration for ownership or occupancy.
Located at 230 Cumberland Road in Lowell, Massachusetts, the property sits on a 0.11-acre lot and carries TTF zoning. Its combination of apartment units, first-floor commercial space, and parking provides a varied physical configuration for ownership or occupancy.
Key Highlights
- 3,880‑square‑foot mixed‑use building constructed in 1940
- Two residential units: one studio and one one‑bedroom apartment
- Remodeled first‑floor commercial area
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
$64,253
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
9.18%
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%
$1,285,060
$1.3M
Cap Rate 7%
$917,900
$917.9K
Cap Rate 9%
$713,922
$713.9K
Market Conditions
NOI Build-Up for 3,880 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
$111.7K $28.80/SF
− Vacancy
−$8.9K −$2.30/SF
EGI
$102.8K $26.50/SF
− OpEx
−$38.6K −$9.94/SF
NOI
$64.3K $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 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%
$1,285,060
Cap Rate 7%
$917,900
Cap Rate 9%
$713,922
Alternative Uses
Best Use
Apartment 5plus
$988.8K
$865.2K – $1.15M
NOI $69,213 @ 7.0% cap · market cap 9.89%
Second Best
Mixed Use
$917.9K
$803.2K – $1.07M
NOI $64,253 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,593 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
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 - Combines a remodeled commercial area with two residential apartments and off-street parking.
Where is this mixed-use property located?
The property is located at 230 Cumberland Road Lowell, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3,880‑square‑foot mixed‑use building constructed in 1940; Two residential units: one studio and one one‑bedroom apartment; Remodeled first‑floor commercial area
