Retail and Distribution Space
588 Gorham Street Lowell, MA 01852
588 Gorham Street, Lowell, MA, 01852
Contact for pricing
For Sale
Contact for pricing
10,106 SF retail and distribution space for sale.
Property Size10,106 SF
Price / SF$143.48
Days on Market69
Property Features for 588 Gorham Street
General Information
- Standard status
- Active
- Size
- 10,106 SF
- Property subtype
- Retail, Industrial
Building Details
- Year Built
- 1956
Listing agency
Avison Young - Boston
Listed by
Tom Aitken · License #MA
Source
Crexi
Added: May 14 Updated: Jul 10 at 1:35PM Checked: Jul 21 at 4:59AM
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
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.9k | $8.70 |
| − Vacancy | −$5.3k | −$0.52 |
| EGI | $82.6k | $8.18 |
| − OpEx | −$12.4k | −$1.23 |
| NOI | $70.2k | $6.95 |
10,106 SF · lease $8.70/SF/yr · vacancy 6.00% · expense 15.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Johnstone Supply
Big Box & Wholesale Store
Similar For Sale Nearby
FAQs
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
