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Property profile & analytics
OFF-MARKET
Estimated value
$10,560,000
Assisted living facilities
1010 Varnum Ave, Lowell, MA 01854-1915
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-0203735
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1977
Construction
FRAME
Total area
35,974 SF
Lot
3.44 ac (149,846 SF)
Zoning code
SSF
APN
LOWE M:31 B:5880 L:1010
UPID
US38-0203735
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Northwood Rehabilitation & Health Care Center Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.56M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.56M
Owner & transaction history
Rima 1010 Varnum Ave Real · 2 yrs held
Rima 1010 Varnum Ave Real
since 2024
Last sale
$10.6M
7 recorded transactions
Zoning & alternative use
SSF · Lowell, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$10.0M
+55.8%
Apartment house (5+ units)
$8.3M
+29.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lowell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lowell submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$10,560,000
ML approach
$10,560,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$6,400,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$9,965,000
Change: +56% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,290,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$10.56M
Range $9.50M – $11.62M · ±10% · vs last sale $10.56M (May 6 2024)
Last sale anchor
$10.56M
May 6 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$294 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$71,979
Tax year 2024
Assessed value
$3,093,200
Assessed 2024
Previous assessed
$3,093,200
+0.0% YoY
Effective rate
2.33%
On assessed value
Assessed land
$861,000
Assessed improvement
$2,232,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1977
Construction
FRAME
Heating
BASEBOARD
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
35,974 SF
Lot
3.44 ac (149,846 SF)
Zoning code
SSF
APN
LOWE M:31 B:5880 L:1010
UPID
US38-0203735
Jurisdiction
LOWELL
Metro division
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN DIVISION
Zoning & alternative use
SSF · Lowell, MA
Zoning SSF · permitted uses
SSF · Lowell, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lowell. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$6.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.3M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Construction
FRAME
Heating
BASEBOARD
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
3.44 ac
Current owner
From public records · entity-resolved
Rima 1010 Varnum Ave Real
Individual
Mailing address
1218 BROADWAY, HEWLETT, NY 11557-2002
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2024
—
Rima 1010 Varnum Ave Real
Rima 1010 Varnum Ave Real
Warranty Deed
related
$9,748,990 · Capital Funding
Jan 4, 2021
$10,560,000
Rima 1010 Varnum Ave Real
Northwood Landlord Ma LLC
Quit Claim Arm's Length For Ne States
$9,500,000 · X Caliber Funding LLC
Sep 28, 2012
$8,184,819
Northwood Landlord Ma LLC
Radius Northwood Rlty LLC
Grant Deed
related
—
Sep 27, 2010
$8,035,848
Radius Northwood Rlty LLC
Hcri Mass Prop T
Grant Deed
$7,440,000 · Wells Fargo Mortgage
Nov 5, 2004
$3,405,380
Mass Prop T Hcri
Oakwood Living Centers
Grant Deed
—
Jan 28, 2002
—
Oakwood Liv Ctr Mass
—
Deed Of Trust
related
$21,703,679 · Gmac Mortgage Corp Pa
Jan 5, 1999
—
Living Ctrs Ma Oakwood
—
Deed Of Trust
related
$6,000,000 · Zuckerman Family Nomi
Jun 10, 1994
$4,630,000
Oakwood Living Ctrs
Health Care Reit INC
Grant Deed
$42,000,000 · Wmc Mortgage Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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