Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    124 Merrimack St Lowell, MA 01852-1718

    • Retail properties
    • 10,710 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $405,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-2232138
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • El Potro Mexican Bar & Grill / Restaurant / Mexican Restaurant

    Property Details for 124 Merrimack St

    Year built
    1871
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.08 lot acres
    Property size
    10,710 SF
    Zone code
    DMU
    Property type
    Retail properties
    APN
    LOWE M:159 B:4060 L:124
    APU
    LOWEM159B4060L124

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $474,000
      Market price range: $439k - $1.50M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.3099
    Latitude
    42.6455
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $13,038
    $167,800
    $392,500
    $560,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $230,000
      3,365 SF

      285 Pln St

      DEPARTMENT STORE • 3,365 SF
      285 Pln St, Lowell, MA 01852-4537
      View Details
    • Value Estimation
      $535,000
      69,600 SF

      159 Merrimack St

      DEPARTMENT STORE • 69,600 SF
      159 Merrimack St, Lowell, MA 01852
      View Details
    • Value Estimation by Request

      107 Central St

      Restaurants
      107 Central St, Lowell, MA 01852
      View Details
    • Value Estimation
      $515,000
      137,357 SF

      181 Pln St

      DEPARTMENT STORE • 137,357 SF
      181 Pln St, Lowell, MA 01852-5165
      View Details
    • Value Estimation
      $495,000
      22,554 SF

      953 Gorham St

      DEPARTMENT STORE • 22,554 SF
      953 Gorham St, Lowell, MA 01852-5052
      View Details
    • Value Estimation
      $275,000
      5,308 SF

      295 Central St

      DEPARTMENT STORE • 5,308 SF
      295 Central St, Lowell, MA 01852-2202
      View Details

    Similar Nearby for Sale

    • $649,900

      Mixed-Use Restaurant/Residential Building

      Mixed-use building with restaurant and residential units in Downtown Lowell.
      110 Gorham St, Lowell, MA 01852
      View Details
    • $895,000

      Updated Restaurant Space in Lowell

      Turnkey restaurant in vibrant downtown Lowell with modern upgrades.
      197 Market St, Lowell, MA 01852
      View Details
    • Contact for pricing
      4,600 SF

      Retail Investment Opportunity in Lowell

      Historic 4,600 SF building with operating Walgreens and vacant restaurant.
      19 Merrimack St, Lowell, MA 01852
      View Details
    • $1,999,000

      Downtown Lowell Restaurant/Bar Opportunity

      Prime location with restaurant, bar, and open space.
      15-17-27 Kearney Sq, Lowell, MA 01852
      View Details
    • $290,000
      1,368 SF

      Lowell Commercial Storefront Condo

      Upgraded commercial condo in historic Lowell, suitable for retail/office.
      58 Prescott St, Lowell, MA 01852
      View Details
    • Contact for pricing

      Established Nail Salon Business

      Well-established nail salon business opportunity in Downtown Lowell.
      248 High St, Lowell, MA 01852
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,680 SF

      Central Lowell Retail Space

      7,680 SF Retail Space - Available Now
      55 Church St, Lowell, MA 01852
      View Details
    • $2,500 /Mo

      Downtown Lowell Equipped Bar Space

      Equipped bar space for lease in downtown Lowell.
      15-2 Kearney Sq, Lowell, MA 01852
      View Details
    • $4,500 /Mo

      Downtown Lowell Restaurant For Lease

      Established restaurant space available for lease in downtown Lowell.
      15 Kearney Sq, Lowell, MA 01852
      View Details
    • $12 SF/Yr

      Downtown Lowell Office/Retail Suite

      Spacious 3,000 sq. ft. office/retail suite in downtown Lowell.
      50 Central St, Lowell, MA 01852
      View Details
    • Contact for pricing

      Retail Space Available on Route 3A

      Retail spaces available with high traffic and signalized access.
      199- Plain St, Lowell, MA 01852
      View Details
    • $3,750 /Mo
      1,827 SF

      Downtown Lowell Retail Space Available

      Retail space with existing restaurant infrastructure in downtown Lowell.
      30 Central St, Lowell, MA 01852
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    124 Merrimack St
    Lowell, MA 01852-1718
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.