Retail and Distribution Space
For Sale
Contact for pricing
588 Gorham Street, Lowell, MA 01852
10,106 SF retail and distribution space for sale.
Property Size10,106 SF
Price / SF$143.48
Days on Market104
Property Features for 588 Gorham Street
General Information
Standard status
Active
Size
10,106 SF
Property subtype
Retail, Industrial
Zoning
UMV
Investment Type
Owner/User
Building Details
Year Built
1956
Year Renovated
2004
Buildings
1
Tenancy
Single
Listing Agency:
Avison Young - Boston
Listed By:
Tom Aitken · License #MA
Source:
Crexi
Added: May 14
Changed: Aug 10
Last Checked: Aug 24 at 5:57AM
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 Avison Young - Boston
Investment Insights
Based on property information with market context.
The property at 588 Gorham Street in Lowell, MA, is a 10,106 SF retail and distribution space available for sale. Constructed in 1956, the building features exterior cinder block construction. A rubber membrane roof was installed in 2023. The building includes retail space, distribution space, small office areas with HVAC, warehouse and basement areas with heat only, and a wet sprinkler system. The electrical system provides 200 Amp, 3 phase, 240 Volt electricity.
Key Highlights
- Great Location on Major Hwy
- Rustic and Ready
- Various types of businesses will fit
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
$70,250
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
4.84%
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%
$1,405,000
$1.4M
Cap Rate 7%
$1,003,571
$1.0M
Cap Rate 9%
$780,556
$780.6K
Market Conditions
NOI Build-Up for 10,106 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
$87.9K $8.70/SF
− Vacancy
−$5.3K −$0.52/SF
EGI
$82.6K $8.18/SF
− OpEx
−$12.4K −$1.23/SF
NOI
$70.2K $6.95/SF
Area
Lowell, MA
Vacancy
6.00%
Lease Rate
$8.70 /SF/Yr
Expense Ratio
15.00%
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%
$1,405,000
Cap Rate 7%
$1,003,571
Cap Rate 9%
$780,556
Alternative Uses
Best Use
Mixed Use
$2.39M
$2.09M – $2.79M
NOI $167,355 @ 7.0% cap · market cap 11.54%
Second Best
Retail
$2.38M
$2.08M – $2.78M
NOI $166,682 @ 7.0% cap · market cap 11.50%
Theoretical Best
Office A
$3.56M
$3.11M – $4.15M
NOI $248,986 @ 7.0% cap · market cap 17.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 01852, MA
36,708
Population
15,363
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
5.0 sq mi
ZIP Area
7,342
Density / Sq Mi
$77,058
Median Household Income
$48,976
Median Earnings
$1,567
Median Rent
$397,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 10,106 SF retail and distribution space for sale.
Where is this mixed-use property located?
The property is located at 588 Gorham Street Lowell, MA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Great Location on Major Hwy; Rustic and Ready; Various types of businesses will fit
