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

    397 School St Lowell, MA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Freestanding automotive repair garage available for lease in Lowell, MA.

    Type:INDUSTRIAL
    Property size:
    658 SF
    Lot size:
    0.13 Acres
    Added:
    Jul 26, 2024
    Days on Market:
    645
    Last Refresh:
    Apr 5 at 11:17 pm

    Property Features for 397 School St

    General Information

    Standard status
    Active
    Size
    658 SF
    Lot size
    0.13 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 397 School St Contact us

    We can help!

    Listing Contact
    Derek Cotoni
    Derek Cotoni

    Listing agent Derek Cotoni

    Listing office Moore Real Estate

    Listing date Jul 26, 2024

    Source Moodyscre

    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 Moore Real Estate

    Overview

    Automotive Repair Garage For Lease

    A freestanding automotive repair garage is available for lease at 397 School Street in Lowell, MA. The property includes approximately 2,854 square feet, with 2,196 square feet on the first floor and 658 square feet on the second floor, situated on approximately 0.13 acres. It features a 12-foot overhead garage door and a fenced yard. The property benefits from high visibility on heavily traveled School Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Saem's Auto Services ... Auto Repair Shop Tepsena Auto Repair Auto Repair Shop

    Suggested Use

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

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

    Similar Places Nearby

    • The Brake Stop Shop — 48 Shaw St, Lowell, MA 01851
    • C & F Auto Custom & Frame Collision - Auto Body — 14 E St, Lowell, MA 01851
    • Jon Kazanjian's Auto Repair — 256 Smith St, Lowell, MA 01851
    • Pelletier's Auto Repair — 256 Smith St, Lowell, MA 01851
    • Seminary Auto Body — 16 Arthur St, Lowell, MA 01851

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3252
    Latitude
    42.6397

    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
    • $1,700/Mo

      Downtown Lowell Commercial Storefront

      Two-level commercial space in downtown Lowell, move-in ready.
      466 Merrimack St, Lowell, MA 01854
      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
    • Contact for pricing

      Penthouse Office Space with River Views

      Unique 4,700 SF penthouse with panoramic river views.
      595 Pawtucket Blvd 4A, Lowell, MA 01854
      View Details
    • Contact for pricing

      Medical Office Near Lowell General

      Turnkey medical office space connected to Lowell General Hospital.
      33 Bartlett St 303, Lowell, MA 01852
      View Details
    • Contact for pricing

      Commercial Storage Space Near Route 495

      Flexible storage space near Route 495, ideal for various needs.
      225 Stedman St, Lowell, MA 01851
      View Details
    • Contact for pricing

      Renovated Office with Heated Garage

      Commercial condo featuring renovated office and heated garage.
      70 Wilbur St 5, Lowell, MA 01851
      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

    FAQs

    What type of property is this?
    Auto shop - Freestanding automotive repair garage available for lease in Lowell, MA.
    Where is this auto shop located?
    The property is located at 397 School St Lowell, MA.
    What are key features of this property?
    This property features: Free‑standing automotive repair garage available for lease.; **High visibility location on heavily traveled School Street.**; Approximately 2,854 SF total space (2,196 SF on the 1st floor and 658 SF on the 2nd floor).
    (978) 955-0624 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Derek Cotoni
    Derek Cotoni
    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

    Thank You for Inquiry

    397 School St, Lowell, MA

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!