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

    5 Lan Dr Westford, MA 1886

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

    Office and flex space available for rent in Westford.

    Type:Office, Industrial
    Property size:
    13,000 SF
    Added:
    May 19, 2020
    Days on Market:
    2162
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 5 Lan Dr

    General Information

    Standard status
    Active
    Size
    13,000 SF
    Property subtype
    Office, Industrial

    Building Details

    Year Built
    2000

    Spaces For Lease

    at 5 Lan Dr Contact us

    2nd Floor $18 /Mo

    Size
    2,622 SF
    Type
    Office, Industrial
    2nd floor space consists 9 offices, conference room, kitchenette
    Contact us

    3rd Fl $18 /Mo

    Size
    13,000 SF
    Type
    Office, Industrial
    Entire third floor available. Subdividable to 4,300 RSF.
    Contact us

    We can help!

    Listing Contact
    Anne Flanagan

    Listing agent Anne Flanagan License #MA 9033032

    Listing office Omni Properties

    Listing date May 19, 2020

    Source Crexi

    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 Omni Properties

    Overview

    Westford Office Space Available

    The property offers office and flex space for rent. The second floor provides 2,622 rentable square feet. The entire third floor is also available, offering 13,000 square feet, which can be subdivided to 4,314 rentable square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Westford
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.4310441
    Latitude
    42.5592481

    Nearby Similar for Lease

    • Contact for pricing

      Westford Commercial Space on Route 110

      Highly visible commercial space suitable for retail, office, or salon.
      434 Littleton Rd, Westford, MA 01886
      View Details
    • Contact for pricing

      Westford Retail/Office Space Available

      Prime location on Route 40, suitable for various businesses.
      225 Groton Road unit: 2, Westford, MA 01886
      View Details
    • Contact for pricing

      Westford Commercial Space on Route 40

      Prime location near Route 3, suitable for various businesses.
      225 Groton Road unit: 1, Westford, MA 01886
      View Details
    • Contact for pricing

      Westford Retail Space on Route 40

      Prime retail location suitable for various quick-service eateries.
      223 Groton Road, Westford, MA 01886
      View Details
    • Contact for pricing

      Westford Commercial Space For Rent

      1428 sq ft of flexible space in Westford, MA.
      175 Littleton Rd unit: L, Westford, MA 01886
      View Details
    • Contact for pricing

      Westford Flex Space For Rent

      700 SF flex space with loading door and office.
      7 Littleton Rd, Westford, MA
      View Details
    • Contact for pricing

      Westford Office Sublease Opportunity

      5,050 SF office space available for sublease in Westford, MA.
      133 Littleton Rd, Westford, MA, 01886, Westford, MA 01886
      View Details
    • Contact for pricing

      Westford Retail/Office Space Available

      Retail/office space for lease in Westford, Massachusetts.
      439 Littleton Rd, Westford, MA
      View Details
    • $18/mo

      Westford Office Space Available

      Office space available for rent in Westford, Massachusetts.
      4 Lan Dr, Westford, MA
      View Details
    • Contact for pricing

      Westford Office Space Available

      Office space for rent in Westford, Massachusetts.
      5 Technology Park Drive, Westford, MA, 01886
      View Details
    • Contact for pricing

      Westford Office Space For Rent

      97,500 SF office space available for rent.
      4 Technology Park Drive, Westford, MA, 01886
      View Details
    • $15/mo

      Westford Flex / Industrial Space

      3,100 SF flex/industrial space available for lease.
      1 Park Dr, Westford, MA
      View Details

    FAQs

    What type of property is this?
    Office units - Office and flex space available for rent in Westford.
    Where is this office units located?
    The property is located at 5 Lan Dr Westford, MA.
    What are key features of this property?
    This property features: Entire 3rd floor available: 13,000 SF; 3rd floor is subdividable to 4,314 RSF; 2nd floor space: 2,622 RSF
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Anne Flanagan
    Real Estate License ID: MA 9033032
    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!