Single-Story Corner Retail/Office
778-788 Gorham Street Lowell, MA 01852
778-788 Gorham Street, Lowell, MA, 01852
$990,000
For Sale
$990,000
Street-level single-story building with basement space, off-street parking, and flexible layout on a corner lot.
Property Size4,107 SF
Price / SF$241.05
Days on Market190
Property Features for 778-788 Gorham Street
General Information
- Standard status
- Active
- Size
- 4,107 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1955
Listing agency
Citylight Homes LLC
Listed by
Stephan Coufos
(978) 658-2345
Source
Wilsonwolfe
Added: Jan 12 Updated: Jul 20 at 11:54PM Checked: Jul 20 at 11:54PM
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 Citylight Homes LLC
Investment Insights
Based on property information with market context.
This single-story, street-level commercial building offers a flexible floor plan with approximately 4,100± square feet of above-grade space plus an additional 2,000± square feet of basement area. The substantial footprint supports a range of uses, including retail, office, manufacturing, or warehouse use, and the property also presents redevelopment potential.
Set on a corner lot along a highly traveled roadway near downtown, the site is designed for visibility and customer access. Off-street parking is available for approximately 13 cars, and convenient connectivity is provided via I-495 and the Lowell Connector.
Overall, the configuration provides an owner-user or investor with a prominent, street-facing asset featuring both above-grade and basement areas for multiple commercial applications.
Set on a corner lot along a highly traveled roadway near downtown, the site is designed for visibility and customer access. Off-street parking is available for approximately 13 cars, and convenient connectivity is provided via I-495 and the Lowell Connector.
Overall, the configuration provides an owner-user or investor with a prominent, street-facing asset featuring both above-grade and basement areas for multiple commercial applications.
Key Highlights
- 4,100± SF single‑story street‑level commercial building plus 2,000± SF basement space
- Corner lot along a highly traveled roadway near downtown
- Off‑street parking for approx. 13 cars
Local Financial Insights For Office B
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 | $128.1k | $31.20 |
| − Vacancy | −$28.8k | −$7.02 |
| EGI | $99.3k | $24.18 |
| − OpEx | −$24.8k | −$6.05 |
| NOI | $74.5k | $18.13 |
4,107 SF · lease $31.20/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.06M
$931.0K – $1.24M
NOI $74,480 @ 7.0% cap · market cap 7.52%
Second Best
Retail
$967.7K
$846.7K – $1.13M
NOI $67,738 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,186 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Storefront property - Street-level single-story building with basement space, off-street parking, and flexible layout on a corner lot.
Where is this storefront property located?
The property is located at 778-788 Gorham Street Lowell, MA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 4,100± SF single‑story street‑level commercial building plus 2,000± SF basement space; Corner lot along a highly traveled roadway near downtown; Off‑street parking for approx. 13 cars
