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    Property profile & analytics

    637 Lowell St Peabody, MA 01960

    • Retail properties
    • 6,541 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Show New England Baseball and Softball Academy / Gym & Fitness Center / Sports Field & Court
    • Big Y World Class Market / Grocery & Convenience Store / Food Market
    • UPS Access Point location / Courier Service / Postal Service
    • Western Union / Bank / Credit Union
    • MoneyGram / Bank / Credit Union

    Property Details for 637 Lowell St

    Property size
    6,541 SF
    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    Big Y Plaza offers exceptional retail opportunities in a thriving Essex County location. This multi-tenant commercial inline property boasts a total of 6,541 square feet, with flexible space options available. Units range from a minimum divisible space of 2,608 square feet to a maximum contiguous space of 3,933 square feet. Currently, there is 8,741 square feet of vacant space presenting a unique chance for expansion or new tenancy. The plaza is strategically situated near Route 1 and I-95, ensuring high visibility and accessibility for customers. Its location within the West Peabody neighborhood, serving Peabody, West Peabody, and Lynnfield, guarantees a dense and affluent customer base. As the only shopping center in West Peabody, Big Y Plaza benefits from strong sales volumes and consistent traffic. The convenient tenant mix caters to everyday needs, encouraging repeat visits and robust sales. The property's proximity to recreational areas like the Independence Greenway and Crystal Lake further enhances its community appeal and creates a vibrant neighborhood atmosphere. This is an ideal opportunity for businesses seeking a high-traffic, easily accessible location within a strong, established retail center. The property's design fosters a neighborhood marketplace feel, making it a convenient and attractive destination for shoppers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Peabody
    County
    Essex
    State
    Massachusetts
    Longitude
    -71.0014
    Latitude
    42.5496

    Comparable in this City

    • Value Estimation
      $3,720,000
      29,920 SF

      47 Newbury St

      RETAIL STORES (PERSONAL SERVICES) • 29,920 SF
      47 Newbury St, Peabody, MA 01960-3867
      View Details
    • Value Estimation
      $2,050,000
      11,400 SF

      161 Andover St

      RETAIL STORES (PERSONAL SERVICES) • 11,400 SF
      161 Andover St, Peabody, MA 01960-1630
      View Details
    • Value Estimation
      $1,105,000
      7,192 SF

      98 Lynn St

      RETAIL STORES (PERSONAL SERVICES) • 7,192 SF
      98 Lynn St, Peabody, MA 01960-5739
      View Details
    • Value Estimation by Request
      2,160 SF

      241 Andover St

      RETAIL STORES (PERSONAL SERVICES) • 2,160 SF
      241 Andover St, Peabody, MA 01960-1520
      View Details
    • Value Estimation by Request
      3,496 SF

      122 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,496 SF
      122 Main St, Peabody, MA 01960-5553
      View Details
    • Value Estimation
      $3,395,000
      28,800 SF

      5 Main St

      RETAIL STORES (PERSONAL SERVICES) • 28,800 SF
      5 Main St, Peabody, MA 01960-5509
      View Details

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    Similar Nearby for Lease

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      6,541 SF

      Big Y Plaza Retail Space Available

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      637 Lowell St, Peabody, MA 01960
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      7,755 SF

      Prime Peabody Retail Space

      7,755 SF Retail Space - For Lease
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      Versatile Office and Retail Space

      Well-maintained office space ideal for retail and professional businesses.
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      Modern mixed-use building on Rt 114 with high visibility.
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      1,702 SF

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      Retail space available in neighborhood shopping center anchored by CVS.
      79 Lynnfield St, Peabody, MA 01960
      View Details
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    637 Lowell St
    Peabody, MA 01960
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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