Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    34 Wellman St Lowell, MA 1851

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $15 SF/Yr

    Adaptable commercial space suitable for office, retail, fitness, or medical.

    Added:
    Apr 22, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 22 at 12:18 pm

    Property Features for 34 Wellman St

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    William Dragon
    William Dragon

    Listing agent William Dragon

    Listing office Gibson CRE

    Listing date Apr 22, 2026

    Source Liongatere

    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 Gibson CRE

    Overview

    Versatile Commercial Space for Rent

    This commercial space presents various possibilities for businesses, including office, retail, fitness, and medical uses. A potential live-work opportunity exists, as the property was formerly a hair salon with a residence. The location can be adapted to meet diverse commercial requirements. A land lease opportunity is also available. The property is adjacent to Stairway Plaza.
    Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3227779
    Latitude
    42.619697

    Nearby Similar for Lease

    • $2,000/Mo

      Downtown Lowell Retail Space Available

      600 SF retail space in a high-traffic downtown location.
      183 Appleton St, Lowell, MA 01852
      View Details
    • $3,000/Mo

      Kearney Square Turn-Key Restaurant Space

      Prime restaurant/retail space in high-traffic Kearney Square.
      10 Kearney Sq #100, Lowell, MA 01852
      View Details
    • $3,000/Mo

      Turn-Key Restaurant Space in Lowell

      Prime location near Lowell National Historical Park and UMass Lowell.
      10 Kearney Sq 100, Lowell, MA 01852
      View Details
    • $13 SF/Yr

      High-Visibility Commercial Space Available

      4,700 SF space in a well-known Lowell building.
      595 Pawtucket Blvd #1A, Lowell, MA 01854
      View Details
    • $13 SF/Yr

      Penthouse Office Space with River Views

      Unique 4,700 SF penthouse with panoramic river views.
      595 Pawtucket Blvd 4A, Lowell, MA 01854
      View Details
    • $1,500/Mo

      Street Level Commercial Space Available

      Commercial space with high visibility, traffic, and ample parking.
      89 Loring St, Lowell, MA 01851
      View Details
    • $22 SF/Yr

      Retail Space in High-Traffic Plaza

      Retail space in a vibrant, high-traffic location near Route 3.
      1270 Westford St, Lowell, MA 01851
      View Details
    • $18 SF/Yr

      Historic Downtown Office Space Available

      Handicap accessible office space in historic downtown Lowell building.
      40-44 Church St, Lowell, MA
      View Details
    • $20 SF/Yr

      Lowell Office Space For Lease

      4,700 SF unfinished space with custom build-out opportunity.
      595 Pawtucket Blvd, Lowell, MA
      View Details
    • $15 SF/Yr

      Versatile Office Space Available

      Adaptable office space with modern amenities and ample parking.
      34 Wellman St, Lowell, MA
      View Details
    • Contact for pricing

      Equipped Retail Space Near UMASS

      Equipped retail space near UMASS Lowell, ready for take-out.
      61 Mammoth Rd, Lowell, MA 01854
      View Details
    • Contact for pricing

      Downtown Lowell Office Space Available

      Office space for lease in historic downtown Lowell.
      81 Bridge Street, Lowell, MA 01852
      View Details

    FAQs

    What type of property is this?
    Office property - Adaptable commercial space suitable for office, retail, fitness, or medical.
    Where is this office property located?
    The property is located at 34 Wellman St Lowell, MA.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Versatile space ideal for office, retail, fitness, or medical businesses.; Potential live/work opportunity.; Land lease opportunity available.
    (978) 735-3731
    We can help!
    Listing Contact
    William Dragon
    William Dragon
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!