Single-Story Corner Retail/Office
For Sale
$990,000
778-788 Gorham St, Lowell, MA 01852
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 Market213
Property Features for 778-788 Gorham St
General Information
Standard status
Active
Size
4,107 SF
Total Parking Spaces
13
Property subtype
Commercial
Zoning
TMU
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,693
Building Details
Building Size
4,107 SF
Year Built
1955
Stories
1
Listing Agency:
Atlantic Properties
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Feb 4
Changed: Sep 5
Last Checked: Aug 13 at 2:18PM
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 Atlantic Properties
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
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
$67,738
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
6.84%
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%
$1,354,760
$1.4M
Cap Rate 7%
$967,686
$967.7K
Cap Rate 9%
$752,644
$752.6K
Market Conditions
NOI Build-Up for 4,107 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
$103.5K $25.20/SF
− Vacancy
−$6.7K −$1.64/SF
EGI
$96.8K $23.56/SF
− OpEx
−$29.0K −$7.07/SF
NOI
$67.7K $16.49/SF
Area
Lowell, MA
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,354,760
Cap Rate 7%
$967,686
Cap Rate 9%
$752,644
Alternative Uses
Best Use
Retail
$967.7K
$846.7K – $1.13M
NOI $67,738 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
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 authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
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 St 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
