Corner Flex
For Sale
Contact for pricing
778 Gorham St, Lowell, MA 01852
Street-level commercial building with basement area, off-street parking, and access to I-495 and the Lowell Connector.
Property Size6,100 SF
Price / SF$162.30
Days on Market203
Property Features for 778 Gorham St
General Information
Standard status
Active
Size
6,100 SF
Total Parking Spaces
13
Property subtype
Industrial, Retail
Zoning
TMU
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Stories
1
Listing Agency:
City Light Homes
Listed By:
Stephan Coufos · License #MA 9540898
Source:
Crexi
Added: Feb 8
Changed: Aug 30
Last Checked: Aug 30 at 5:36AM
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 City Light Homes
Investment Insights
Based on property information with market context.
This TMU-zoned flex property includes a 4,100± square foot, single-story building at street level, plus approximately 2,000 square feet of basement space. The layout supports a range of commercial functions, including retail, office, manufacturing, and warehouse operations. Off-street parking for approximately 13 vehicles adds practical functionality for occupants and visitors.
Positioned on a corner lot along a highly traveled roadway near downtown, the property offers direct exposure and convenient regional connectivity. Access to I-495 and the Lowell Connector links the site with surrounding markets. The building’s substantial footprint and basement component provide additional space for storage, operations, or other supported uses.
Positioned on a corner lot along a highly traveled roadway near downtown, the property offers direct exposure and convenient regional connectivity. Access to I-495 and the Lowell Connector links the site with surrounding markets. The building’s substantial footprint and basement component provide additional space for storage, operations, or other supported uses.
Key Highlights
- 4,100± square foot single‑story commercial building
- Additional 2,000 square feet of basement space
- TMU zoning
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
$80,077
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
8.09%
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%
$1,601,540
$1.6M
Cap Rate 7%
$1,143,957
$1.1M
Cap Rate 9%
$889,744
$889.7K
Market Conditions
NOI Build-Up for 6,100 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
$131.8K $21.60/SF
− Vacancy
−$8.6K −$1.40/SF
EGI
$123.2K $20.20/SF
− OpEx
−$43.1K −$7.07/SF
NOI
$80.1K $13.13/SF
Area
Lowell, MA
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,601,540
Cap Rate 7%
$1,143,957
Cap Rate 9%
$889,744
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.68M
NOI $100,610 @ 7.0% cap · market cap 10.16%
Second Best
Flex RnD
$1.14M
$1.00M – $1.33M
NOI $80,077 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$2.15M
$1.88M – $2.50M
NOI $150,288 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road 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 Industrial 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?
Flex space - Street-level commercial building with basement area, off-street parking, and access to I-495 and the Lowell Connector.
Where is this flex space located?
The property is located at 778 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± square foot single‑story commercial building; Additional 2,000 square feet of basement space; TMU zoning
