Building Details

Building Size 2,000 SF

Year Built 1988

Buildings 1

Construction brick

Listing Agency: Doherty Properties

Listed By: Christian Doherty · License #456015020 Show Phone

Source: Kevinfruh

Added: Oct 12 Changed: Oct 15 Last Checked: Oct 15 at 1:11AM

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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 Doherty Properties

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Investment Insights

Based on property information with market context.

This 2,000-square-foot flex property was built in 1988 and has solid brick construction with 12-foot ceilings. The interior includes a garage bay, a broad work area, 1.5 baths, and a full kitchen with washer and dryer hookups. Gas forced-air heat, central air conditioning, and insulation serve the building. The property is vacant and zoned UMU.

A parking lot accommodates approximately 10 vehicles, with additional off-street parking also available. The property is located in downtown Lowell, Massachusetts.

Key Highlights

• 2,000‑square‑foot building constructed in 1988
• Garage bay and substantial work area
• 12‑foot ceilings and brick construction

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,987

Cap Rate

7.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$659,740 $659.7K

Cap Rate 7%

$471,243 $471.2K

Cap Rate 9%

$366,522 $366.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$50.4K $25.20/SF

− Vacancy

−$3.3K −$1.64/SF

EGI

$47.1K $23.56/SF

− OpEx

−$14.1K −$7.07/SF

NOI

$33.0K $16.49/SF

Area

Lowell, MA

Vacancy

6.50%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$659,740

Cap Rate 7%

$471,243

Cap Rate 9%

$366,522

Alternative Uses

Best Use

Retail

$471.2K

$412.3K – $549.8K (±1% cap)

NOI $32,987 @ 7.0% cap · market cap 7.33%

Second Best

Flex RnD

$375.1K

$328.2K – $437.6K (±1% cap)

NOI $26,255 @ 7.0% cap · market cap 5.83%

Theoretical Best

Office A

$703.9K

$615.9K – $821.3K (±1% cap)

NOI $49,275 @ 7.0% cap · market cap 10.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Skin Care Clinic Acupuncture Storage Facility Pet Grooming Service Carpet & Flooring Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12 ft

Clear height

1

Service bays

Location Intelligence

Trade Area within ½ mile

2,713

Businesses Nearby

Under-served

Demand for This Use

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

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Vacant space offers a dedicated work area, kitchen, and on-site parking.

Where is this flex space located?

The property is located at 26 Howard St Lowell, MA.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 2,000‑square‑foot building constructed in 1988; Garage bay and substantial work area; 12‑foot ceilings and brick construction