Auto Repair Shop For
For Sale
Contact for pricing
429 Riverside St, Lowell, MA
Former auto repair shop on high-traffic street near UMass Lowell.
Property Size2,016 SF
Lot Size0.08 Acres
Price / SF$235.62
Days on Market490
Property Features for 429 Riverside St
General Information
Standard status
Active
Size
2,016 SF
Lot size
0.08 Acres
Property subtype
RETAIL
Listing Agency:
Bell Tower Commercial Real Estate Group
(978) 251-5894
Listed By:
Vladimir Saldana · License #MASSACHUSETTS-9575388
(978) 251-5894
Source:
Moodyscre
Added: Apr 9, 2025
Changed: Jul 6
Last Checked: Aug 11 at 1:37PM
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 former auto repair shop, situated on a 7,170 square foot lot on a high-traffic street, presents an opportunity to own an income-producing business. The property is located near the Lowell/Dracut line and within walking distance of the UMass Lowell North Campus. Previously operated as an auto repair and towing business, the property's frontage spans from Lafayette to New York Streets. The 2,016 square foot building includes two garage doors, three auto lifts, an office, a small customer waiting area, a restroom, and off-street parking. Environmental due diligence has been completed, and a report will be filed with Mass DEP, concluding a condition of 'no significant risk'.
Key Highlights
- High‑traffic location ideal for business.
- Immediate income‑producing opportunity.
- Large 7,170 SF lot near UMass Lowell North Campus.
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
$33,251
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
7.00%
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%
$665,020
$665.0K
Cap Rate 7%
$475,014
$475.0K
Cap Rate 9%
$369,456
$369.5K
Market Conditions
NOI Build-Up for 2,016 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
$50.8K $25.20/SF
− Vacancy
−$3.3K −$1.64/SF
EGI
$47.5K $23.56/SF
− OpEx
−$14.3K −$7.07/SF
NOI
$33.3K $16.49/SF
Area
Lowell, MA
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$665,020
Cap Rate 7%
$475,014
Cap Rate 9%
$369,456
Alternative Uses
Best Use
Retail
$475.0K
$415.6K – $554.2K
NOI $33,251 @ 7.0% cap · market cap 7.00%
Second Best
Industrial
$164.9K
$144.3K – $192.4K
NOI $11,541 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$709.6K
$620.9K – $827.8K
NOI $49,669 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
33k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 33%
Family Dollar
Shops & Services
13,546 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,593 visits/mo
0.4 miles
Shell
Shops & Services
4,396 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
3,452 visits/mo
0.3 miles
Cancun Mexican Restaurant
Dining
2,297 visits/mo
0.3 miles
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- S.W.A.T. Automotive Services Inc — 10 Riverside St, Lowell, MA 01854
- Empire Truck Tires Of New England — 22 Gershom Ave, Lowell, MA 01854
- Dunlavey's Auto — 352 Riverside St, Lowell, MA 01854
- Pro Car Auto Repair — 352 Riverside St, Lowell, MA 01854
- TMK Mobile Mechanix — 9 Clinton Ave, Lowell, MA 01854
Frequently Asked Questions
What type of property is this?
Auto shop - Former auto repair shop on high-traffic street near UMass Lowell.
Where is this auto shop located?
The property is located at 429 Riverside St Lowell, MA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: High‑traffic location ideal for business.; Immediate income‑producing opportunity.; Large 7,170 SF lot near UMass Lowell North Campus.
