Loft-Style Unit in Dutton
For Sale
Contact for pricing
491 Dutton St, Lowell, MA 01854
Versatile loft space in historic Dutton Building, ideal for business.
Property Size2,060 SF
Price / SF$191.70
Days on Market478
Property Features for 491 Dutton St
General Information
Standard status
Active
Size
2,060 SF
Class
A
Property subtype
Mixed Use, Office
Zoning
UMUAOT
Investment Type
Owner/User
Building Details
Year Built
2019
Buildings
1
Stories
1
Units
1
Listing Agency:
Liriano Realty
(617) 372-1717
Listed By:
Jefri Liriano · License #9576115
Source:
Crexi
Added: Apr 30, 2025
Changed: Aug 8
Last Checked: Aug 8 at 2:39PM
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 Liriano Realty
Investment Insights
Based on property information with market context.
This loft-style unit, situated in the restored Dutton Building, is suitable for entrepreneurs, investors, or business owners seeking flexibility and visibility. The unit features soaring ceilings and large windows that overlook the building’s interior museum. The open layout is customizable for various business needs, including a creative office, boutique studio, or mixed-use setup. Utilities are included. The property is located in a prime location with access to local shops, dining, and transportation. The property size is 2060 square feet.
Key Highlights
- Prime location with convenient access to shops, dining, and transportation.
- Loft‑style unit in the beautifully restored Dutton Building (local landmark).
- Open layout customizable for various business needs (office, studio, mixed‑use).
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
$34,114
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
8.64%
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%
$682,280
$682.3K
Cap Rate 7%
$487,343
$487.3K
Cap Rate 9%
$379,044
$379.0K
Market Conditions
NOI Build-Up for 2,060 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
$59.3K $28.80/SF
− Vacancy
−$4.7K −$2.30/SF
EGI
$54.6K $26.50/SF
− OpEx
−$20.5K −$9.94/SF
NOI
$34.1K $16.56/SF
Area
Lowell, MA
Vacancy
8.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
37.50%
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%
$682,280
Cap Rate 7%
$487,343
Cap Rate 9%
$379,044
Alternative Uses
Best Use
Office B
$533.7K
$467.0K – $622.6K
NOI $37,358 @ 7.0% cap · market cap 9.46%
Second Best
Mixed Use
$487.3K
$426.4K – $568.6K
NOI $34,114 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$725.0K
$634.4K – $845.9K
NOI $50,753 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile loft space in historic Dutton Building, ideal for business.
Where is this mixed-use property located?
The property is located at 491 Dutton St Lowell, MA.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: Prime location with convenient access to shops, dining, and transportation.; Loft‑style unit in the beautifully restored Dutton Building (local landmark).; Open layout customizable for various business needs (office, studio, mixed‑use).
