Lakeview Avenue Portfolio For
For Sale
Contact for pricing
768 Lakeview Ave, Lowell, MA 01850
Multifamily and retail portfolio in Lowell, MA.
Property Size23,250 SF
Lot Size0.76 Acres
Price / SF$278.49
Days on Market176
Property Features for 768 Lakeview Ave
General Information
Standard status
Active
Size
23,250 SF
Lot size
0.76 Acres
Property subtype
Multifamily
Net Operating Income
$388,365
Building Details
Buildings
2
Units
27
Listing Agency:
NorthEast Private Client Group Shelton
Listed By:
Anthony Rakuskas · License #9588289
Source:
Crexi
Added: Feb 25
Changed: Aug 19
Last Checked: Aug 19 at 2:38PM
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 NorthEast Private Client Group Shelton
Investment Insights
Based on property information with market context.
The Lakeview Avenue Portfolio, located at 776 Lakeview Ave & 768 Lakeview Ave with adjacent lots at 10 Island St, and 754.A Aiken Street in Lowell, MA, is available for purchase. The properties include apartment buildings, retail space, warehouses, and commercial real estate. 776 Lakeview Ave, built in 1937, features 12,559 SF GLA and was newly renovated in 2024. It comprises thirteen one-bedroom apartments and two fully leased retail units. Additional income is generated from a T-Mobile cell tower and a coin-op laundry facility. Each apartment has 3 rooms: 1 bedroom, kitchen, living room and bath, approximately 800 SF, and includes one assigned off-street parking space. 768 Lakeview Ave is a 6,903 SF GLA, three-story building constructed in the 1900s, consisting of eight one-bedroom apartments. In the rear on Island St there is approximately 986 SF of commercial/warehouse space along with another 2,926 SF building, consisting of four one-bedroom residential units. Both 10 Island St and 754.A Aiken St are parking lots for both Lakeview Ave buildings. The buildings and parking lots sit on a total of 33,105 square feet of land. The property size is 23,250 square feet.
Key Highlights
- Newly renovated (2024) 15‑unit apartment building at 776 Lakeview Ave.
- Portfolio includes multiple buildings: 776 Lakeview Ave, 768 Lakeview Ave, 10 Island St, and 754.A Aiken Street.
- Additional income from T‑Mobile cell tower and coin‑op laundry.
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
$414,745
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
6.41%
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%
$8,294,900
$8.3M
Cap Rate 7%
$5,924,929
$5.9M
Cap Rate 9%
$4,608,278
$4.6M
Market Conditions
NOI Build-Up for 23,250 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
$809.1K $34.80/SF
− Vacancy
−$55.0K −$2.37/SF
EGI
$754.1K $32.43/SF
− OpEx
−$339.3K −$14.60/SF
NOI
$414.7K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
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%
$8,294,900
Cap Rate 7%
$5,924,929
Cap Rate 9%
$4,608,278
Alternative Uses
Best Use
Apartment 5plus
$5.92M
$5.18M – $6.91M
NOI $414,745 @ 7.0% cap · market cap 6.41%
Second Best
Retail
$5.48M
$4.79M – $6.39M
NOI $383,472 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$8.18M
$7.16M – $9.55M
NOI $572,820 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
901
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily and retail portfolio in Lowell, MA.
Where is this apartment building located?
The property is located at 768 Lakeview Ave Lowell, MA.
What is the asking price?
The asking price for this property is $6,475,000.
What are key features of this property?
This property features: Newly renovated (2024) 15‑unit apartment building at 776 Lakeview Ave.; Portfolio includes multiple buildings: 776 Lakeview Ave, 768 Lakeview Ave, 10 Island St, and 754.A Aiken Street.; Additional income from T‑Mobile cell tower and coin‑op laundry.
