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 Market151
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: Sep 11
Last Checked: Oct 9 at 7:00PM
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 / Yr
$70,250
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
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
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 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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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
