Six-Unit Apartment
New
For Sale
$1,175,000
255 Liberty Street, Lowell, MA 01851
TMF-zoned property with tenant-paid gas utilities and separately metered electricity.
Property Size4,603 SF
Lot Size0.13 Acres
Price / SF$255.27
Days on Market4
Property Features for 255 Liberty Street
General Information
Standard status
Active
Size
4,603 SF
Total Parking Spaces
4
Lot size
0.13 Acres
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Building Details
Year Built
1940
Listing Agency:
Horvath & Tremblay
Listed By:
Spencer Norton · License #9562958
(781) 776-4524
Source:
Inrealtyinc
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 10:09AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
255 Liberty Street is a six-unit apartment property containing six one-bedroom, one-bath residences. The building offers 4,603 square feet of gross living area within 7,122 square feet of gross area on a 0.13-acre parcel. Four off-street parking spaces serve the property, which was built in 1940. Zoning is TMF.
Tenants pay for gas-fired heat and hot water along with individually metered electricity, while the landlord provides municipal water and sewer service. The property is located in Lowell near the central business district, local retail corridors, and established residential areas. Regional access includes Route 110, Route 3, and Interstate 495. The University of Massachusetts Lowell is approximately 2.0 miles away and enrolls more than 16,500 students; Middlesex Community College Lowell is located in downtown Lowell.
Tenants pay for gas-fired heat and hot water along with individually metered electricity, while the landlord provides municipal water and sewer service. The property is located in Lowell near the central business district, local retail corridors, and established residential areas. Regional access includes Route 110, Route 3, and Interstate 495. The University of Massachusetts Lowell is approximately 2.0 miles away and enrolls more than 16,500 students; Middlesex Community College Lowell is located in downtown Lowell.
Key Highlights
- Six 1‑bedroom/1‑bathroom apartment units
- 4,603 square feet of gross living area within 7,122 square feet of gross area
- 0.13‑acre parcel with four off‑street parking spaces
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
$82,111
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
6.99%
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%
$1,642,220
$1.6M
Cap Rate 7%
$1,173,014
$1.2M
Cap Rate 9%
$912,344
$912.3K
Market Conditions
NOI Build-Up for 4,603 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
$160.2K $34.80/SF
− Vacancy
−$10.9K −$2.37/SF
EGI
$149.3K $32.43/SF
− OpEx
−$67.2K −$14.60/SF
NOI
$82.1K $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%
$1,642,220
Cap Rate 7%
$1,173,014
Cap Rate 9%
$912,344
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,111 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,406 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - TMF-zoned property with tenant-paid gas utilities and separately metered electricity.
Where is this apartment building located?
The property is located at 255 Liberty Street Lowell, MA.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Six 1‑bedroom/1‑bathroom apartment units; 4,603 square feet of gross living area within 7,122 square feet of gross area; 0.13‑acre parcel with four off‑street parking spaces
