Light Industrial Building with
For Sale
$2,590,000
31 First Street Boulevard, Lowell, MA 01850
Well-maintained light industrial, retail, and office building with in-place leased warehousing and available space for lease.
Property Size25,535 SF
Price / SF$101.43
Days on Market145
Property Features for 31 First Street Boulevard
General Information
Standard status
Active
Size
25,535 SF
Property subtype
Commercial
Zoning
CA
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$32,052
Building Details
Building Size
25,535 SF
Year Built
1920
Listing Agency:
The Edge Group, Inc.
(978) 458-8822
Listed By:
Vladimir Saldana · License #MASSACHUSETTS-9575388
(978) 251-5894
Source:
Churchillprop
Added: May 19
Changed: Oct 6
Last Checked: Oct 9 at 5:42PM
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$177,501
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,550,020
$3.6M
Cap Rate 7%
$2,535,729
$2.5M
Cap Rate 9%
$1,972,233
$2.0M
Market Conditions
NOI Build-Up for 25,535 SF
Gross rent
$222.2K $8.70/SF
− Vacancy
−$13.3K −$0.52/SF
EGI
$208.8K $8.18/SF
− OpEx
−$31.3K −$1.23/SF
NOI
$177.5K $6.95/SF
Area
Lowell, MA
Vacancy
6.00%
Lease Rate
$8.70 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,550,020
Cap Rate 7%
$2,535,729
Cap Rate 9%
$1,972,233
Alternative Uses
Best Use
Flex RnD
$4.79M
$4.19M – $5.59M
NOI $335,208 @ 7.0% cap · market cap 12.94%
Second Best
Warehouse
$2.54M
$2.22M – $2.96M
NOI $177,501 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$8.99M
$7.86M – $10.49M
NOI $629,117 @ 7.0% cap · market cap 24.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,406
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Northeast region
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Similar Off Market Nearby
- Omkar Foods — 17 Warren St, Lowell, MA 01852
- Infuse Catering Services — 17 Warren St, Lowell, MA 01852
- Naturel Juicing — 120 Merrimack St, Lowell, MA 01852
- D&C Catering — 755 Lakeview Ave, Lowell, MA 01850
Frequently Asked Questions
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
