Renovated Office/Retail Space
For Sale
Contact for pricing
31 1st St, Lowell, MA
Move-in ready office/retail space with high visibility and accessibility.
Property Size5,200 SF
Lot Size0.82 Acres
Price / SF$498.08
Days on Market303
Property Features for 31 1st St
General Information
Standard status
Active
Size
5,200 SF
Lot size
0.82 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 31 1st St Contact us- Floor
- 1
- Size
- 5,250 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
31 1st St
- Renovated light industrial and office/retail property offering excellent visibility,...
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Listing Agency:
Bell Tower Commercial Real Estate Group
(978) 458-8822
Listed By:
Vladimir Saldana · License #MASSACHUSETTS-9575388
(978) 251-5894
Source:
Moodyscre
Added: Nov 11, 2025
Changed: Sep 8
Last Checked: Sep 9 at 11:52AM
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 Bell Tower Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This renovated light industrial and office/retail property offers excellent visibility, accessibility, and flexible use potential. The building is partially occupied by a national auto parts retailer under a long-term NNN lease. There is 5,200 square feet of office/retail space and 2,000 square feet of storage space currently available for lease. Recent upgrades include a new roof, HVAC systems, and fire protection improvements. The property benefits from a high-traffic location with 17,949 vehicles per day and ample on-site parking, situated on separate parcels under common ownership. It is ideal for a wide range of commercial users seeking well-maintained, move-in-ready space in a strong market area. Environmental remediation, including former tank removal and asbestos abatement, was completed during the 2020 renovation. Full reports are available upon request.
Key Highlights
- Long‑term NNN lease with national auto parts retailer for immediate income.
- Renovated with new roof, HVAC systems, and fire protection improvements.
- High‑traffic location with excellent visibility (17,949 vehicles per day).
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
$94,302
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
3.64%
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%
$1,886,040
$1.9M
Cap Rate 7%
$1,347,171
$1.3M
Cap Rate 9%
$1,047,800
$1.0M
Market Conditions
NOI Build-Up for 5,200 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
$162.2K $31.20/SF
− Vacancy
−$36.5K −$7.02/SF
EGI
$125.7K $24.18/SF
− OpEx
−$31.4K −$6.05/SF
NOI
$94.3K $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%
$1,886,040
Cap Rate 7%
$1,347,171
Cap Rate 9%
$1,047,800
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.57M
NOI $94,302 @ 7.0% cap · market cap 3.64%
Second Best
Retail
$1.23M
$1.07M – $1.43M
NOI $85,766 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,115 @ 7.0% cap · market cap 4.95%
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
2,599
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Move-in ready office/retail space with high visibility and accessibility.
Where is this office units located?
The property is located at 31 1st St Lowell, MA.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: Long‑term NNN lease with national auto parts retailer for immediate income.; Renovated with new roof, HVAC systems, and fire protection improvements.; High‑traffic location with excellent visibility (17,949 vehicles per day).
