Light Industrial Building with
31 First Street Boulevard Lowell, MA 01850
31 First Street Boulevard, Lowell, MA, 01850
$2,590,000
For Sale
$2,590,000
Well-maintained light industrial, retail, and office building with in-place leased warehousing and available space for lease.
Property Size25,435 SF
Price / SF$101.83
Days on Market90
Property Features for 31 First Street Boulevard
General Information
- Standard status
- Active
- Size
- 25,435 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing agency
The Edge Group,Inc.
Listed by
Vladimir Saldana
(617) 846-8000
Source
Highlandre
Added: Apr 23 Updated: Jul 20 at 5:00PM Checked: Jul 21 at 9:23AM
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 The Edge Group,Inc.
Investment Insights
Based on property information with market context.
Well-maintained light industrial/retail/office building with in-place income and additional space available. Approximately two-thirds of the property is leased to a national tenant under a 5-year NNN lease for warehousing and inventory, totaling 18,335 SF. The remaining space includes 5,000+/- SF of retail/office area available, along with an additional 2,000+/- SF of rear warehousing/storage that is also available.
Recent capital improvements include roof, HVAC, electrical, and fire protection upgrades. The property is located on a high-visibility state highway with strong access and on-site parking.
Total property size is approximately 25,435 SF, offering a mix of leased warehousing and flexible space that may support leasing or owner occupancy.
Recent capital improvements include roof, HVAC, electrical, and fire protection upgrades. The property is located on a high-visibility state highway with strong access and on-site parking.
Total property size is approximately 25,435 SF, offering a mix of leased warehousing and flexible space that may support leasing or owner occupancy.
Key Highlights
- 1920‑built light industrial/retail/office building with in‑place income and additional space available for lease or owner occupancy
- Approximately 18,335 SF leased for warehousing and inventory under a 5‑year NNN lease to a national tenant (about two‑thirds of the property)
- Additional space available: 5,000+/- SF retail/office plus 2,000+/- SF rear warehousing/storage
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $221.3k | $8.70 |
| − Vacancy | −$13.3k | −$0.52 |
| EGI | $208.0k | $8.18 |
| − OpEx | −$31.2k | −$1.23 |
| NOI | $176.8k | $6.95 |
25,435 SF · lease $8.70/SF/yr · vacancy 6.00% · expense 15.00%
Alternative Uses
Best Use
Office B
$6.59M
$5.77M – $7.69M
NOI $461,264 @ 7.0% cap · market cap 17.81%
Second Best
Flex RnD
$4.77M
$4.17M – $5.56M
NOI $333,895 @ 7.0% cap · market cap 12.89%
Theoretical Best
Office A
$8.95M
$7.83M – $10.44M
NOI $626,653 @ 7.0% cap · market cap 24.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Naturel Juicing — 120 Merrimack St, Lowell, MA 01852
- Omkar Foods — 17 Warren St, Lowell, MA 01852
- D&C Catering — 755 Lakeview Ave, Lowell, MA 01850
- Infuse Catering Services — 17 Warren St, Lowell, MA 01852
FAQs
What type of property is this?
Flex space - Well-maintained light industrial, retail, and office building with in-place leased warehousing and available space for lease.
Where is this flex space located?
The property is located at 31 First Street Boulevard 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: 1920‑built light industrial/retail/office building with in‑place income and additional space available for lease or owner occupancy; Approximately 18,335 SF leased for warehousing and inventory under a 5‑year NNN lease to a national tenant (about two‑thirds of the property); Additional space available: 5,000+/- SF retail/office plus 2,000+/- SF rear warehousing/storage
